Dec 28, 2016

Emporio Armani, Anticipating Rise of Elite Spenders, Opens First Store in Myanmar

Myanmar’s first Emporio Armani store has opened in Yangon, signalling confidence among luxury retailers in the spending potential of the country’s awakening middle class, growing population of foreign businesspeople and wealthy returning emigrants.

The 240-square metre store – or “boutique”, as the company calls it – opened last week at the Sule Square Mall, a new retail complex that sits alongside the five-star Sule Shangri La Hotel in downtown Yangon.

The store offers Emporio Armani’s complete men’s and women’s collections, as well as Armani Jeans, watches, glasses and jewellery.

“The interior of the Emporio Armani Yangon store has been carefully conceived and designed by Giorgio Armani and his team of architects in Milan, to give the space a
modern, stimulating environment with organic lines and a play in volumes and light,” the company said in a statement.

Until recently Myanmar’s wealthy mostly travelled abroad to shop for global luxury brands, but companies with products aimed at high-end consumers have been gradually increasing their presence in the country.

And while demand for high-end brands is still low compared to Myanmar’s regional neighbours, that is expected to change as rapid economic expansion fuels the growth of a wealthy segment of consumers.

Source: Myanmar Business Today