By CNN Philippines
When Nike announced that they would be opening their largest store in Southeast Asia in the Philippines, the big question was: why here? At 1,400 sq feet, the new store is larger than the Nike in Jewel Changi Airport, Singapore, which previously held the title.
The retail sector accounts for approximately 15 percent of the Philippines’ total Gross National Product (GNP) and 33 percent of the entire services sector. Prior to the pandemic, it was even projected to account for one-fifth of the country’s GDP by 2025. So for those watching the retail sector in the country since the pandemic hit, this was not as big a surprise.
After taking a major hit during the pandemic, it seems that stakeholders are confident that things will get better. Just look at how other global brands like Nike have opted to set up shop in the country. Furniture giant Ikea’s biggest store ever is in Pasay, and Uniqlo’s biggest store in Southeast Asia is in Makati. On the luxury retail front, Ayala Malls has even positioned Greenbelt as the Orchard Road or Rodeo Drive of the Philippines.
“The Philippines is Nike’s most successful market in the region,” said Tarundeep Singh, senior director of Nike Stores in Southeast Asia. But more than a place to shop for the latest (and most complete) drops from the brand, Nike execs want the store to be a sports hub and health and wellness destination that encourages Filipinos of all ages, genders, and backgrounds, to get into sport.
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