As Singapore’s cut-throat retail scene pushes companies to their limits, a number of international retailers are whittling down or completely shuttering their store space in the city-state.
This month, Japanese casual wear label Lowrys Farm announced its decision to pull out of Singapore after three years, citing poor sales. This follows the exit of other Japanese brands over the past two years including department store Parco, lifestyle store Francfranc, and skincare product Fancl, as well as British high-street fashion house River Island and U.S. bed linen retailer Aussino Group.
Meanwhile, Japanese department store Isetan, which operates six outlets in Singapore, will halt operations at one of its locations along the prime shopping belt of Orchard Road from the second quarter of 2015.
CNBC
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