SSI to bring in more luxury brands to Cebu

CEBU, Philippines- Rustan's Group specialty retailer Stores Specialist Inc., (SSI) is bringing in at least 15 designer labels and luxury brands to Cebu in the next couple of months, depending on the availability of retail spaces.

In an interview with SSI president Anton Huang, he said that based on the encouraging performance of its 20 brands  Marks & Spencer, Calvin Klein, Beauty Bar, Lacoste, F&F, MUJI, GAP, and soon Zara, Aeropostale, and Kate Spade, the company is prompted to bring in more signature, and branded stores to Cebu.

"Cebu market is becoming more and more affluent. They understand well the fashion trends. They are traveling quite a great deal, " said Huang.

SSI is a member of the Rustan's Group of Companies and the exclusive franchisee of some of the finest international brands in fashion and lifestyle such as Lacoste, Gucci, Salvatore Ferragamo, Bally, Michael Kors, Prada, Burberry, Marc Jacobs and a lot more.

Huang announced that Cebu will have the presence of other established and signature fashion brands by next years, such as the likes of Old Navy, Charming Charlie, Brisca, among others  to add to its roster of 20 specialty branded stores now present in Cebu.

Aside from its continuous store opening at Ayala Center Cebu, and SM City Cebu, SSI is also looking at opening stores in soon to open shopping malls here, like the Robinsons Galleria, and SM Seaside City Cebu.

SSI is now operating with a total of 112 international brands in the Philippine market, available in 746 stores nationwide.

The recent opening of the larger Rustans Department Stores, which brought more branded fashion brands like as Purla, Michael Korrs, among others, is just one of the indications of a vibrant Cebu retail market.

According to Euromonitor, a global information publisher providing market research reports, that with the strengthening of the economy in the Philippines, luxury goods continued to perform at robust level. This was a direct result of the improvement of consumer purchasing power in the country, signaling the appeal of luxury goods, not only among high net worth individuals, but also other socio-economic classes, particularly employees of large corporate offices.

The research study contained the more wide-spread occurrence of dual-income households as well as opportunities to earn extra income from the rise of business process outsourcing services in the country, also contributed to the healthier performance of these high-end goods.

The excellent performance of the Philippine Stock market also created a more optimistic environment among the more affluent investors in the country.

Demand for luxury goods is expected to remain on an upward trajectory. This will be attributed to the continued optimistic outlook for the country.  (FREEMAN)