Page 57 - RLI April 2019

SHANGHAI YDNEY
As a highly prominent fashion hub in Australia, Sydney
infuses modern- day retail into its historic passageways
Sto offer the best of big-city shopping to both locals
and tourists alike. The arrival of international brands is a recent
phenomenon, but these brands are quickly enhancing the
traditional retail offering provided by major department stores.
High Street
Pitt Street Mall is Australia’s most expensive retail
destination and arguably the busiest and most cosmopolitan
shopping catchment area in the country. The pedestrianised
high street has transformed in the last five to seven years
and now showcases many recognisable domestic and
international fashion brands, including Seed, Witchery,
Country Road, H&M, Forever 21, Zara, and Sephora. A
number of luxury accessory and jewellery brands also reside
here such as Bally, Pandora, Oroton, Mimco, and Swarovski.
Castlereagh Street, located parallel to Pitt Street Mall, is
AN FRANCISCO HANGHAI Sydney’s traditional luxury retail precinct, with Cartier, Dior,
San Francisco, though smaller in population than many One of the wealthiest and most cosmopolitan cities in Bulgari, Gucci, Chanel, Georg Jensen, and Rolex all present.
other US gateway markets, has an outsized influence all of China, Shanghai has attracted more international Shopping Centres
Saround the world. Known largely for the clustered Sbrands than any other city on the mainland. The city is Sydney CBD offers four major shopping centres, and the
tech economy in Silicon Valley, San Francisco and the larger Bay also a key market for domestic retailers seeking to broaden their largest of these is Westfield Sydney, which recorded over
Area region, it appeals to a young and educated workforce. customer base and build exposure. Notable recent entrants to 45.4 million customer visits in 2016. The centre benefits from
High Street Shanghai include Lululemon, Calzedonia, Victoria’s Secret, and its positioning between two key CBD retail high street areas:
High-end locally-owned retailers were once the typical Gentle Monster, as well as the first Starbuck’s Roastery and Pitt Street Mall and Castlereagh Street. Two major department
tenants in Union Square, but now the corridor features more Reserve Tasting Room outside of the US. stores (Myer and David Jones) anchor the southern end of Pitt
national brands as its desirability and visibility has increased. High Street Street Mall and both link to Westfield Sydney.
Apple’s move to the northwest corner of Union Square Shanghai’s European heritage has left it with a better
in 2016 has drawn sales activity towards that intersection developed high street scene than most mainland Chinese
SAN FRANCISCO where Nike has a four-floor flagship as well. Luxury tenants cities. Nanjing West Road is the street of choice for upscale SYDNEY
like Chanel, Harry Winston, and Maison Goyard continue to shoppers, with the Plaza 66 mall serving as one of the city’s
be attracted to the consistent crowds the square promises. top luxury shopping spots. Meanwhile, the pedestrianised
EOUL Shopping Centres Nanjing East Road is popular among tourists, who flock to
Seoul is renowned for its sophisticated and image- Multiple shopping centres are found within the city limits the street’s flagship shops and department stores.
conscious consumers, and is a gateway to other of San Francisco, such as Westfield San Francisco Centre on Shopping Centres
SKorean cities. The expansion of new-to-market the periphery of the Union Square corridor. But many of Shanghai has the highest level of shopping mall stock in
brands and an influx of tourists, most notably from Mainland the Bay Area’s prime shopping centres are in the outlying China, and over the years, this has evolved into several core
China, are driving retail demand. neighbourhoods in the South and East Bay regions. The districts and decentralised submarkets. In the core retail area,
High Street Westfield Valley Fair is currently undergoing a multimillion dollar foreign developers such as CapitaLand, Hang Lung, and Sun
Myeongdong is the main representative retail area in renovation to add an expanded luxury collection and over Hung Kai have established some of the best-quality and best-
Seoul and is considered the primary location for flagship 150 new shops. Broadway Plaza in Walnut Creek, ownedby performing malls in the country.
stores by most international and domestic retailers. Near the Macerich, has also received an update with an influx of new
Central Business District and several tourist sites, the area tenants since last year including Arhaus, H&M, LUSH, and Tesla. INGAPORE
has the highest foot traffic and is renowned for the highest Albeit small in size, Singapore maintains a high
average rents nationwide. Some of the most well-known standing among other retail destinations in Asia,
international fashion brands such as Zara, H&M, and Forever Sas it strives to harness the latest trends to keep a
21 have opened their first stores in this area. Cheongdam- competitive edge over neighbours. Malls are also incorporating
dong is widely considered the only retail area in Seoul with more niche entertainment categories and have adopted tenant
luxury fashion and luxury automobile flagships. While the mixes that blend lifestyle concepts that embody the work-live-
area has lower foot traffic than other major retail areas in play paradigm. Some of the latest retailers in the market include
Seoul, it benefits from the strong spending power of affluent Devialet, Gentle Monster, Lumine and Don Don Donki.
residents living nearby in upscale residential communities. High Street
Shopping Centres Orchard Road is home to Singapore’s largest concentration of
Shopping malls are often connected to major transport fashion retailers that cater to the market at large. Inside the malls SINGAPORE
hubs and feature department stores, hypermarkets, bookstores, that stretch along the 2.2km boulevard, Orchard Road offers
restaurants, and movie theatres, serving as one-stop attractions a wide variety of mid-market to premium fashion labels and
for both domestic and international shoppers. Lotte World Mall luxury brands. The road is closed off during major events such as
is a multipurpose shopping centre featuring a discount store, Christmas or the annual Chingay parade, and occasionally closes
cinema, and aquarium as well as a giant tower composed of for ‘Pedestrian Night on Orchard’, transforming the coveted
hotel, office, and residences. street into a flurry of activities and outdoor performances.
SEOUL Shopping Centres
Most of Singapore’s premium shopping centres are situated
within the Orchard-Somerset shopping belt. This includes
ION Orchard, Paragon, Ngee Ann City, and Wisma Atria.
Other prominent shopping centres outside of Orchard Road
include The Shoppes at Marina Bay Sands, the luxury retail
mall which is part of Singapore’s iconic Marina Bay Sands
development, and VivoCity, the largest mall in Singapore with
more than one million square feet of lettable retail space..

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