- Marina Bay Sands
The Shoppes at Marina Bay Sands (MBS) has announced a record-breaking revenue of US$179 million (S$242 million) for the year 2018.
According to MBS, this is a 7 per cent rise against the same period in 2017, and its best performance since opening in 2010.
Retail tenant sales at The Shoppes also jumped 19 per cent to US$1,898 per square foot last year, while tourist spending remained high – capturing an estimated 25 per cent of the tax-free tourist market in Singapore.
John Postle, senior vice president of retail at MBS, said: “2018 has been an exceptional year for the mall, as we not only achieved our highest sales revenue in history, but also solidified a leading position in tourism shopping. This is so rewarding, given the competitive retail landscape and growth of online shopping.”
In a statement, MBS said that the performance was in part due to “an ongoing retail remix strategy that started in 2012, which saw the mall double its footprint with luxury brands in the form of duplexes, as well as expansion into luxury childrenswear”.
The establishment receives an estimated 120,000 shoppers daily.
Luxury brand Moncler recently unveiled its biggest APAC store – a duplex – at The Shoppes, while Hermes expanded from a single unit to a duplex store. The Shoppes will also see the opening of Philipp Plein’s biggest store in Southeast Asia this quarter.
Later this year The Shoppes will also become home to French label Roger Vivier’s Singapore flagship, and Italian luxury shoe label Gianvito Rossi’s first standalone store in Southeast Asia.