Asia-Pacific continues to lure apparel retailers: Report

09 May '13

2 min read

The growth of retail sector, including apparel retail, in Asia-Pacific region has been particularly impressive in recent years, according to a report released by CBRE, an international commercial real estate services firm.

The report tilted “Retail Hotspots in Asia Pacific: 2013 Key Findings”, says international and domestic retail chains have widely expanded across Asia-Pacific region, especially in China, in recent years.

Hong Kong, Singapore and Tokyo are the leading cities with maximum new retailer entries. The new retail entrants are expected to have a steady growth rate in 2013, particularly for international denim retailers.

Luxury and business retailers have occupied the maximum portion (27 percent) of the new entry retailers’ market, as per the CBRE report. The mid-range fashion retailers (18 percent), specialist clothing stores (12 percent), and value and denim chains (11 percent) also hold a major section of the Asia-Pacific market.

Growing middle class, young demographics and rising incomes are acting as catalyst for the entry of the retailers in the Asia-Pacific, according to the study.

Besides establishing in the major cities, especially of China, many retailers have planned to cover the emerging locations, including Wuhan, Shenyang and Nanjing, to cater to the rise in demand.

Most retailers opening their stores in the Asia-Pacific hail from EMEA (Europe, Middle East and Africa) countries, states the report.

It predicts that new retail openings will continue at a steady rate in 2013, particularly from international value and denim retailers targeting emerging markets and also from Japanese and Korean groups.

It singles out Australia as a major destination for retail expansion in 2013.

Fibre2fashion News Desk - India

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