‘Building the next sunrise’: Metro pivots to global tie-ups, immersive concept stores to woo shoppers
Group does not plan to exit troubled industry, hopes to stabilise loss-making retail operations in one to two years
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[SINGAPORE] With shrinking margins, weaker spending and rising operating costs, retail has often been written off as a sunset industry in Singapore – especially after household-name department stores such as Robinsons exited the market, and Isetan and BHG Singapore downsized.
Metro views things differently.
“We see it as a sunrise industry. Every retailer is going through the same challenges, and the objective for us is building resilience,” Erwin Wuysang-Oei, chief operating officer (COO) of Metro’s retail arm, told The Business Times.
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