With half its shopping space snapped up, it is on track to reach target for launch
RETAILERS have already bagged 50 per cent of shopping space at ION Orchard, a highly-anticipated development slated to open beside Orchard MRT station next year.
As for the remaining half of the 663,000 square foot of new retail space, landlord Orchard Turn Developments says it is “in negotiations”.
Secured tenants include Marc Jacobs, Fossil and Armani Xchange.
“In full recognition of our excellent location and landmark status, we are pleased to say that more than 30 per cent of retailers who have signed up will be setting up their flagships at ION Orchard,” said Ms Soon Su Lin, chief executive of Orchard Turn, which is a joint venture between Singapore’s CapitaLand and Hong Kong’s Sun Hung Kai Properties.
This includes popular brands such as Max Mara and Topshop and Topman, which will relocate two of its existing stores at Wisma Atria and Isetan Scotts to the new shopping mall.
ION Orchard has previously announced that Louis Vuitton, Cartier, Prada, Christian Dior, Dolce and Gabbana and Giorgio Armani as the six mega brands that will front its two-storey duplex stores.
The mall, which sits at the junction between Orchard and Paterson Roads, has also clinched 45 new-to-market brands and newly-created concept stores by established operators, said Ms Soon yesterday.
“With less than a year to go until our opening, we are definitely on track to achieving our target,” she added, referring to an aim to lease 60 per cent of the space to flagship shops, new brands and concept stores.
As a show of an ongoing commitment to integrate art into the shopping experience, the mall will feature sculptures and media installations. There will also be a 5,600-square-feet art gallery in the complex.
To attract more quality tenants, the mall yesterday unveiled a first-of-its kind retail showroom that promises to reflect the “multi-sensory experience, spatial quality and positioning” that it aspires to offer visitors.
The 8,000-square-feet showroom features LED floor-to-ceiling panels and specially-produced videos introducing visitors to the ION Orchard brand.
Source : Today – 23 Jul 2008