Burberry opened the doors today to its largest store in southeast Asia–an 8,700-square-foot space on Singapore’s Orchard Road, complete with WiFi and a video wall. The store will carry the Burberry Prorsum and Burberry London lines, as well as children’s wear, fragrances, and accessories. Exclusive leather pieces will be sold to celebrate the grand opening. This will be Burberry’s sixth store in Singapore, a 263.6-square-mile nation, one of the smallest in Asia.
Why is the Plaid One growing this aggressively in this economy? Frankly, it’s smart strategy for a company that wants to be a successful global brand. According to research from brand consulting firm Wolff Olins for the Financial Times, the next global brands may not come from the west. “It used to be possible to be a global brand by dominating the U.S. market,” Wolff Olins strategist Melanie McShane told the Financial Times. “Now you have to be number one in Asia.”
Global wealth has already been shifting, with Asian spending on the rise. Over the past year, China’s retail sales were up 15%, and Haier and Lenovo have dominant global presences. In the future, we’ll be looking to the east, not the west, as drivers of global economic growth and creators of the next great brands.
[Photos Courtesy of Burberry]