Tag Archives: Raffles Place among the latest to be affected from retail slump

Raffles Place among the latest to be affected from retail slump

One Raffles Place are hit harder by the retail slump than those in Orchard Road because of office workers’ limited shopping hours and minimal tourist traffic.

Travel products store Tumi, watch brand Swatch, jeweller Pandora and shoe brand Melissa have decided not to renew their leases and will shut soon.

The bigger tenants, which take up prime space on the ground floor, are leaving, upsetting smaller tenants, which claimed they were not told of the moves prior to them renewing their leases.

The Body Shop outlet on level three, which is moving out on Thursday next week, has not been making a profit. Other tenants moving out include Evergreen Stationery, Yami Yogurt and Blow + Bar hair salon.

3 years after its opening in 2014, most of these crowd-pullers have shut or will move out by next month, as the retail slump claims yet another casualty. Lingerie brand Victoria’s Secret, fashion retailer Uniqlo and cafe Paris Baguette have already closed their stores at the six-storey mall next to Raffles Place MRT station.

Its anchor tenant, Swedish clothing retailer H&M, has not confirmed if it will be moving out when its lease ends, providing some respite for the mall.

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