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Lapa, to fi nd an outlet selling world-fa- mous brands in Macau. High-end shop- ping malls are now fl ourishing all over the city and there are enough luxury of- ferings to meet a more demanding type of customer. Investors call it an “excit- ing” market. And more is yet to come. When you enter some of Macau’s crowds are
L top-end shopping malls,
something you will probably not come across. But the developers reassuringly say that, though there are fewer people there than you might expect, they are do- ing more shopping.
Golden Sands One of the biggest investors in the retail sector is Sands China, which owns two high-end shopping malls in Cotai at The Venetian Macao and the other in the Four Seasons. Senior vice-president of Asian re-
tailing operations for Las Vegas Sands David Sylvester told Macau Business that the city’s retail market is an exciting one, because “it’s just starting”. He says there has always been a link
between gaming and retailing. But look- ing at the past 12 months, he believes Macau is becoming a shopping destina- tion in its own right. Mr Sylvester says that, before, peo-
ple would stay in Macau for gaming and eventually would do some shop- ping. “Now we are getting an increasing amount of people that are coming for a shopping trip, and gaming while doing this,” he says. Sands’ shoppers come mainly from
the mainland and Hong Kong, though there are an increasing number of people from India, Korea, Japan and Taiwan. The competition from other mid-
market and high-end malls in Macau does not scare Mr Sylvester. It is actu- ally a good thing, he says. “It works for us. It’s going to help in making Macau a retail destination,” he said. Sands’ recent investment in Singa-
pore, Marina Bay Sands, is nothing for Macau to worry about, Mr Sylvester believes. “There will be a little crosso- ver from China and maybe a little from India, but they are not threats to each other. It’s a different customer base,” he said. Mr Sylvester appreciates that luxury brands and jewellery are a big chunk of
OCTOBER 2010
ong gone are the days when you had to go all the way to the Man- darin Oriental, now the Grand
Luxe for life
Luxury brands are selling like hot cakes in the growing retailing market, bought mainly with tourist dollars BY SOFIA JESUS
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