GLOBAL RETAIL EXPANSION CONTINUES DESPITE TOUGH TRADING CONDITIONS CB Richard Ellis Report Reveals Trends in Global Retail Expansion

Global retailers have continued to grow their store networks in a wide range of international markets despite challenging conditions, according to the 2011 edition of How Global is the Business of Retail? by leading global real estate adviser CB Richard Ellis (CBRE). CBRE’s annual survey - now in its fourth year - mapped the global store footprint of 323 of the world’s top retailers across 73 countries to identify trends in global retail expansion at national and local levels. The report found that although the global economy pulled out of recession in 2010, it remains a testing time for retailers, with consumer spending subdued in many markets and fewer new shopping centres making it more difficult for retailers to access prime space. Hong Kong has maintained its position as the most popular destination for luxury retailers, attracting 84% of the luxury brands covered in the survey. Singapore, Tokyo, and Beijing also feature in the top 10, confirming that Asia continues to be a key target for luxury brands, with many retailers opening in multiple locations and developing flagship stores to market their brand. Luxury & Business Fashion Top 10 Ranking Luxury & Business Fashion Rank City % of all Luxury & Business Fashion Retailers present % of all retailers in city 1 Hong Kong 84% 41% 2 Dubai 82% 56% 3 London 80% 56% 4 New York 71% 44% 5 Paris 71% 44% 6 Moscow 69% 40% 7 Singapore 69% 38% 8 Tokyo 69% 35% 9 Los Angeles 67% 39% 10 Beijing 67% 38% Source: CBRE’s How Global is the Business of Retail 2011 Report The United Kingdom (UK) maintained its position as the world’s most international retail market for the fourth year running, attracting 58% of all international retail brands surveyed. The UK is closely followed by the United Arab Emirates (UAE) with 54%, and the US with 50%. With more than 3 million sq.m. of retail space in Bangkok, Thailand also has success in attracting international brands, attracting 29% of all international retail brands surveyed. Ms. Eilidh Callum, Senior Economist at CBRE Thailand said, “Although not as popular as traditional luxury retail destinations in Asia such as Hong Kong and Singapore, Bangkok attracts many tourists on shopping breaks and has a large expatriate community, international brands are already present and successful and this is something we see continuing with our retail services team dealing with leasing enquiries from a number of international retailers looking to locate in Thailand for the first time.” According to the report, American retailers are the most global, with 73% being present in all three regions. This compares with 45 percent of retailers from Europe, Middle East and Africa (EMEA) and 26 percent of those from Asia Pacific. “Historically many U.S. retailers have been reluctant to adopt the retail franchise but with foreign business regulations in Thailand, retailers are readily adopting franchising as a strategy to establish a brand presence in the Kingdom,” said Ms. Callum. “Last year’s franchise success story has to be the opening of Krispy Kreme doughnut shop, 6 months after opening it still has regular queue of those seeking the well renowned American doughnut. We expect to see an increase in the retailers wishing to replicate this success and use franchising as an inroad to Thailand”. For further information: Ms. Ngamjai Jearrajarat Manager Marketing and Communications - Thailand 66 2 654 1111 ext 522 [email protected]

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