Luxury brands seen eyeing expansion in emerging cities
Besides the usual suspects, Wealthinsight includes Mexico City, Istanbul, Tel Aviv and Lagos in its list of 10
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
Singapore
MOVE over, Singapore. Sales may be cooling down in our glass-plated designer mega-stores, but luxury marques can make up for the decline by muscling into new emerging cities, many of which are in neighbouring South-east Asian countries.
According to a new report by research group Wealthinsight, Bangkok, Jakarta, Kuala Lumpur and Ho Chi Minh City are among 10 emerging cities targeted for luxury brand expansion. And apart from Shanghai and Mumbai, the remaining destinations fall outside the predictable BRIC grouping of emerging countries. Instead, Mexico City, Istanbul, Tel Aviv and Lagos were also marked as the next big hotspots for high net worth spenders.
Copyright SPH Media. All rights reserved.
TRENDING NOW
Shelving S$5 billion office redevelopment plan proved ‘wise’ as geopolitical risks mount: OCBC chairman
Eurokars Group introduces rental car franchises Enterprise Rent-A-Car, National Car Rental, and Alamo to Singapore
20 photos that show how dramatically Singapore has changed in two decades
Singapore’s key exports up 15.3% in March from electronics surge, exceeding forecasts
