Oysho opens a flagship store in Singapore in the world’s best airport
Inditex’s lingerie and sportswear chain Oysho is expanding its footprint in Asia by entering a new market. Just this week, Oysho opened the doors of its first retail store in Singapore, a flagship store located in the Changi Airport’s new lifestyle hub. But Oysho won’t be the only chain in Amancio Ortega’s fashion group to have a presence in the newly opened complex. Zara has also opened there, marking its 10th store in the Singaporean market.
Oysho’s store spreads over approximately 200 square metres and will showcase the brand’s full range of products across sleepwear, lingerie, activewear, swimwear, footwear and accessories, according to local media reports. Located in the Jewel Changi Airport, the shop marks the brand’s debut in the country through the travel retail channel following several openings in other international airports.
The $1.3m lifestyle hub within Changi Airport, called ‘Jewel’, opened to the public on Wednesday 17 April to connect three of its four terminals with the aim of driving footfall and establishing the city as a destination for global travellers. The space includes 280 restaurants and retail stores such as Nike, Marks & Spencer, Muji and Uniqlo. Additionally, there is a cinema, a hotel and a 40-metre-tall waterfall - billed as the tallest indoor waterfall in the world. For the seventh year in a row, Changi Airport has been named the best airport in the world, ahead of Tokyo International Airport and Incheon International Airport in Seoul, according to a Skytrax ranking.
The opening takes Oysho’s total number of stores to 679 in 56 markets and countries. Most of its shops (177) are located in Spain, followed by China with 88 shops and Russia with 68 shops. The chain, which launched Oysho Sport at the end of 2018 to strengthen its position in the activewear segment, ended the year with revenues of 585 million euros, up by 15 million on 2017.
Meanwhile, Zara has now 2,132 stores in 97 markets. At the end of 2018, the group’s flagship brand released its financial numbers together with Zara Home. During this period, their revenues grew to 18.02 billion euros. Worldwide, Inditex’s sales gew 3% to 26.14 billion.
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