Luxury brands, beauty and streetwear rule the retail scene post-Covid-19

November 4, 2022



Beauty, especially skincare, proved remarkably resilient during the first two years of Covid-19. “We will continue to see more beauty retail stores opening as Singapore welcomes more tourists,” says Sulian Tan-Wijaya, executive director of retail and lifestyle at Savills Singapore.

ION Orchard now houses Christian Dior’s first standalone facial boutique in Asia, Dior Prestige La Suite, and South Korean skincare brands The History of Whoo and Su:m37.

Tan-Wijaya says Raffles City Shopping Centre’s major revamp saw the opening of outlets from Sephora, new Anglo-French luxury fragrance house Creed and Australian beauty and wellness spa Rationale. French brands Guerlain and Givenchy Beauty will open their first standalone flagship boutiques in November.

Having joined Savills in 2008 to set up the retail and lifestyle division, Tan-Wijaya has a front-row seat to the changing trends in these two sectors over the years. “Luxury brands performed exceptionally well during Covid and continue to enjoy brisk sales even with price increases by luxury giants Chanel, Hermes and Louis Vuitton,” she says. “Rolex continues to see a worldwide shortage, and prices in the secondary market spiked up during Covid due to overwhelming demand.”

She sees street fashion becoming a cultural phenomenon. Luxury giants Balenciaga and Gucci both launched collaborations with Adidas. Louis Vuitton’s Nike Air Force 1 sneakers can sell for US$2,000 ($2825), while Dior’s limited-edition Air Jordan 1 retailed at US$2,000 to US$2,200, adds Tan-Wijaya.

Work-from-home during the pandemic has also created a trend towards more casual and comfortable work wear. Athleisure brands like Lululemon, Adidas and Nike have benefitted as more workers opt for sneakers and fashionable sportswear.

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