End near for HMV Singapore?
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In Hong Kong, HMV is enjoying a renaissance. But HMV Singapore appears about to become extinct.
The last surviving store bearing the brand in the city state will close on September 30 after the company decided not to renew its lease on the Marina Square shopping mall.
On its website the company says it plans to “re-open a new store in the near future”, but retail commentators aren’t so certain the brand will survive offline.
The Straits Times newspaper reports the company held discussions with centre management for several months on renewal terms but has now confirmed terms to vacate the premises.
HMV was once Singapore’s largest music retailer but has become a victim of the digital age and high retail rents which made it uneconomic to continue selling music CDs and movie DVDs.
HMV Singapore GM Michele Tan told the Straits Times she was not authorised to reveal the location and opening date of the new store.
The Singapore business is operated by Hong Kong-based AID Partners which is enjoying success reinventing the brand in Hong Kong. New concept stores there include cafes and an expanded product range including a focus on headphones, DJ equipment, apparel and gifts – along with a more curated offer of music and DVDs.
HMV opened its first store in Singapore in 1997, a 25,000 sqft two-level superstore at The Heeren. That store relocated to a smaller space at 313@Somerset, which was replaced by a Sony store in 2013. At its peak there were at least three stores in the city.
Questions & Answers
Q.What reasons led to HMV Singapore's current store closure?
What reasons led to HMV Singapore's current store closure?
The company decided not to renew its lease at Marina Square shopping mall. The article suggests this is due to high retail rents and the unviability of selling music CDs and movie DVDs in the digital age, making the business uneconomic.
Q.Who operates the HMV business in Singapore, and what is their strategy elsewhere?
Who operates the HMV business in Singapore, and what is their strategy elsewhere?
The Singapore business is operated by Hong Kong-based AID Partners. In Hong Kong, they are reinventing the brand with new concept stores, including cafes, expanded product ranges like headphones and apparel, and a more curated music and DVD offering.
Q.When did HMV first establish a presence in Singapore, and how has its physical footprint changed?
When did HMV first establish a presence in Singapore, and how has its physical footprint changed?
HMV opened its first store in Singapore in 1997, a large 25,000 sqft superstore at The Heeren. At its peak, there were at least three stores, but its physical presence has since significantly downsized, with previous locations being replaced.
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