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On Monday (26 Aug) division retailer Metro introduced that it was closing its 6-storey flagship retailer at The Centrepoint on Orchard Street subsequent month.
This comes 5 years after it first turned the mall’s anchor tenant.
After the Centrepoint outlet is closed, Metro can have 2 shops left in Singapore – one at Paragon, and the opposite at Causeway Level.
Metro is Singapore and Indonesia-based, and was based by businessman Ong Tjoe Kim in 1953.
The primary Metro opened in Singapore at Liat Towers on Orchard Street in 1965, and was one of many first Singapore department shops to hold imported designer items.
Metro at the moment has retailers in Singapore and Indonesia.
Mentioned a Metro spokesman: “In recent times, Metro has been rationalising its retail enterprise in response to altering market situations […] Metro continues to deal with its core companies of retail in Singapore and Indonesia, along with property funding and improvement.”
Metro Pte Ltd was publicly listed on the Singapore Inventory Change in 1973, and has ventured into credit score leasing (with Trans-Pacific Credit score Pte Ltd) and in addition co-founded luxurious model retailer chain The Hour Glass in 1979.
It’s reported to have property investments in China, Japan, and UK and in addition retail properties in China and Indonesia.
Retailers and gross sales workers at The Centrepoint that The Straits Occasions spoke to speculated that low footfall on the mall could have influenced Metro’s resolution to go away.
Tenants like Crystal Jade Kitchen, Occasions Bookstore, TianPo Jewelry, and The Higher Toy Retailer have both moved out, or within the means of shifting out from the mall.
Simply at some point after the announcement of Metro Centrepoint’s impending finish, a spokesperson for Frasers Property Singapore shared that French sporting items chain Decathlon will likely be taking up the place of anchor tenant.
The brand new Decathlon outlet is slated to open within the first half of 2020, and goals to supply an “immersive and activity-based idea”.
Some examples of this embrace digital simulations and augmented actuality (AR) parts that can let customers check out merchandise in an “atmosphere that simulates real-life situations”.
Decathlon Singapore’s managing director Nils Swolkien added that Decathlon at The Centrepoint will “host common energetic way of life occasions resembling yoga and zumba courses”.
They’re additionally trying to “collaborate with numerous sports activities companies, academies and specialists to carry common sports activities demonstrations, interactions, and talks throughout the mall”.
Decathlon opened its first outlet in Singapore in 2016, and at the moment has 6 retailers right here.
Aside from the upcoming outlet at The Centerpoint, it should even be opening a brand new click-and-collect retailer at Waterway Level in Punggol.