Retail in Asia


Singapore Tourism Board and CapitalLand Investment Limited announce partnership

Singapore Tourism Board (STB) and CapitaLand Investment Limited (CLI) have entered into a multi-faceted three-year partnership to deliver new retail concepts and drive global awareness of Singapore and CapitaLand malls as lifestyle destinations.

SEE ALSO : Singapore retail sales rose 8.7 percent in March 2022

The partnership with a national tourism organisation is a first for CLI and is aimed at capturing pent-up demand as international travel recovers. It hopes to enhance Singapore’s destination appeal to international visitors, achieve greater impact with fun, meaningful and differentiated events and retail experiences, as well as drive incremental spending among locals and international visitors.

STB and CLI are expected to jointly curate some 20 events and experiences which aim to Profile home-grown brands locally and in China across selected CapitaLand malls in both countries, with a focus on Singapore malls in tourism precincts; create unique retail and lifestyle offerings through innovative cross-industry partnerships in areas and collaborate with international brands to anchor new and first-in-Singapore concepts to raise the profile of Singapore’s retail scene. 

With the acceleration in business digitalisation, STB and CLI will explore innovative ways to enhance the omni-channel retail experience. Both parties will also embark on cross-marketing campaigns to promote joint events and retail experiences to local and international visitors.

“We are delighted to ink this timely partnership with CapitaLand Investment to enhance and showcase the vibrancy of Singapore’s retail scene to the world. Together, we hope to engage consumers more meaningfully, as we jointly curate inspiring first-to-market offerings and authentic experiences that will strengthen Singapore’s position as a lifestyle destination for locals and visitors,” said Mr Yap Chin Siang, Deputy Chief Executive, STB.

“As Singapore’s largest mall operator with an extensive network of retail partners, we are pleased to partner STB, with support from Enterprise Singapore (EnterpriseSG), to further enhance the vibrancy of our malls, which are popular lifestyle destinations for locals and tourists to meet, shop, dine and play. We are excited to work with new and familiar like-minded partners to present unique immersive retail experiences, fusing concept stores with world-class events to delight our shoppers and boost sales for our retailers,” said Mr Chris Chong, CEO, Retail & Workspace (Singapore & Malaysia), CLI.

SEE ALSO : Singapore retail sales rise 11 percent in January

The partnership, supported by EnterpriseSG, will also give home-grown brands more opportunities to raise their profile through the various projects to capture growth opportunities in Singapore and China. “With consumer spending expected to improve with the lifting of social group restrictions, local brands will have to continue to offer new modes of reaching and engaging the consumer. Brands will have to innovate on customer experiences, leverage omni-channel delivery and engage through branding and storytelling. We welcome the partnership with CapitaLand and trust that it will enable our local brands to reach new audiences and ultimately, create a more vibrant retail scene in Singapore,” said Dilys Boey, Assistant Chief Executive Officer, EnterpriseSG.