1) Mandarin Oriental closes its doors after 38 years.
One of the year’s biggest headlines was the Mandarin Oriental Manila closing shop on Sept. 9, after 38 years. The 400-plus employees of the Makati landmark had a tearful exit, marching out of the hotel’s lobby shortly after the last guest had checked out. The hotel will reopen in a location nearby in 2020, after the hotel management signed a partnership deal with Ayala Land Hotels and Resorts in June.
2) Major openings in retail: H&M, Pottery Barn, Crate & Barrel, etc.
The past year was a huge year for Philippine retail, with the entry of major global players into the local scene. One of the most anticipated was the opening of Swedish fast-fashion giant H&M, which unveiled its first store in October after a two-month delay. (It has since opened four more stores.) Then there were the head-to-head openings of rival American home stores Pottery Barn and Crate & Barrel, as well as the first stores of a motley of other international brands, from high street to high luxury: Saint Laurent, Givenchy, Giuseppe Zanotti, Carven, Casadei, Old Navy, Vero Moda, Pull & Bear, Cath Kidston, and countless others. The year also marked the opening of smaller, “better curated” shopping destinations like Central Square and Century City Mall, joining the East Wing luxury lane of Shangri-La Plaza Mall, which opened its doors in late 2013. SM also unveiled the new fashion wing of its Megamall called Mega Fashion Hall, with new food and fashion concepts.
3) SSI makes IPO.
A surprise move by a fashion retailer, the Tantoco family-led Stores Specialists Group Inc. (SSI Group Inc.), made its
initial public offering in the last quarter of 2014, the first-ever company in local fashion retail to do so. SSI has been aggressively growing its already vast portfolio in recent months, including the opening of it own mall, Central Square, in Bonifacio Global City, as well as a partnership with Ayala Land Inc. in the new midmarket Wellworth department store. SSI has over 100 global brands in its roster, from prestige labels like Prada, Gucci, Tod’s and Ferragamo to more accessible brands like Lacoste, Marks & Spencer, Zara, Nine West, Gap, among others.
Other fashion stories that got people talking: Nancy Binay’s Randy Ortiz dress; the passing of designer Aureo Alonzo.