May 21, 2012
Just recently, Singapore has hosted two major fashion events which were aimed at catapulting homegrown talent to the international stage. Blueprint 2012, which showcased primarily up-and-coming Asian designers, in tandem with the Third Asia Fashion Summit (AFS), which brought together the global fashion industry’s thought-leaders such as Nicola Formichetti, served as platforms for local and regional fashion labels to go global.
Singapore company registration specialist Rikvin is confident that the events are testament to Singapore’s ambition to become Asia’s leading fashion hub for emerging fashion designers. Both Blueprint and Asia Fashion Summit were organized by Asia Fashion Exchange (AFX), a private-public sector conglomerate aimed at positioning Singapore as Asia’s leading fashion hub. Mercury Marketing and Communications.
Notably, 85% of designers showcased at Blueprint were from Singapore and other parts of Asia while the remaining are from Europe and USA...Additionally, TaFf has rolled out a subsidized training program for the textile and fashion technology industry in 2009 under the Workforce Skills Qualifications (WSQ) framework. Southeast Asia, Singapore is also home to many lifestyle and fashion brands. According to Euromonitor, Asia Pacific’s clothing and footwear retail will cross US$481 billion in 2013. As Singapore’s fashion sector progresses from manufacturing to higher value-added activities such as providing unique retail experiences, innovation and creative design, the Republic has become the second largest sourcing hub in Asia with the estimated sourcing volume of S$4.5 billion.
Furthermore, as it is strategically located in the heart of Asia, and equipped with excellent logistics and financial infrastructure, Singapore is fertile ground for fashion labels to take flight and tap a growing market of fashion-savvy consumers.
“Moreover, as the Lemon law comes into effect on September this year, Singapore's retail consumers are in good stead to benefit in the long run. It will assure the customers that Singapore fosters good retail practices and is a safe place to shop. This will induce higher spending; benefiting the retail sector as a whole. Thirdly, Rikvin is confident that Singapore is taking the lead in Asia by using online engagement as a means of retail innovation. Singapore fashion labels such as Actually, Love & Bravery and Zalora have applied social media engagement as a way of tapping consumer intel and keeping on pulse with trends evangelized by savvy and passionate consumers.
“With such strong economic indicators, it is all the more important for retailers to recognise that the surge of new technology and social media have changed the fashion retail landscape permanently. Vice versa, consumer behavioural patterns and preferences are being increasingly influenced by social networking sites such as Facebook, Pinterest, Tumblr and Instagram. Established in 1998, Rikvin has since partnered with thousands of investors, entrepreneurs and professionals in their pursuit to access business opportunities overseas. Rikvin’s areas of expertise include Singapore company incorporation, offshore company setup, accounting, taxation and other related corporate services. Rikvin also provides Singapore work visa and immigration services for foreign professionals who wish to relocate to Singapore.
20 Cecil Street, #14-01, Equity Plaza, Singapore 049705
(65) 6320 1888
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