Luxury brands dress up for Phl expansion

Traveling abroad to shop for luxury goods? In a few years, maybe you no longer have to, as more luxury brands are looking to enter and set up shop in the Philippines.

-  LOUELLA DESIDERIO

Ayala Malls vice president AC Legarda said eight to 10 luxury brands that currently have no presence in the country have approached them, wanting to open a boutique at Greenbelt in Makati City.

“Greenbelt now is being considered as the emerging fashion and luxury address not only in the Philippines, but in Southeast Asia,” Legarda said.

Ayala Land Inc. announced earlier this month it is allotting P13 billion to redevelop four of its major malls, which include Greenbelt.

Renovation work on Greenbelt 2, which will start this quarter, is targeted to be completed by 2026.

Mariana Zobel de Ayala, SVP and head of leasing and hospitality at Ayala Land and president of Ayala Malls, said Greenbelt will be transformed as the next fashion and luxury destination in the region.

Following the renovations for Greenbelt 3 and 4, she said there was an increase in demand in heritage luxury brands including the likes of Louis Vuitton, Dior and Fendi.