Metro to Exit Large-Format Department Stores in New Retail Strategy
Metro Holdings (SGX:M01) will close its large-format department stores at Metro Paragon and Metro Causeway Point in Singapore upon the expiration of their current leases, according to a Monday filing with the Singapore Exchange.The move marks a shift away from the traditional large-format model toward a retail approach. Going forward, Metro plans to roll out smaller-format outlets, multi-specialty concept stores, curated retail experiences, and pop-up initiatives.The retailer is currently in talks with both its existing and prospective landlords to facilitate the rollout of these new multi-concept stores.Metro will also continue to pursue retail opportunities through its brand management joint venture company, Grand Brands Asia, which focuses on international retail brands and immersive concept stores.
