Shattering the luxury retail glass barrier

Perhaps it’s just me, but I somehow feel that the government and the business sector are finally synching with each other to help the economy stay on track and push forward with future development goals despite continuing geopolitical turmoil and uncertainty.

Our economic leaders, particularly the Bangko Sentral ng Pilipinas led by BSP Governor Eli Remolona Jr., has been competently steadfast  in helping the country navigate the swells and dips created by the almost tidal wave disruptions created initially by our very own infrastructure scandal that has stunted much needed projects, followed by the tariff changes implemented by the United States and then by the unwarranted Middle East war that has disrupted vital crude oil supplies from that region.

Now in its fourth month, the Middle East conflict remains shrouded in uncertainty, leaving the world on the edge of its seat, praying and hoping that some sort of peace and order can be restored so the global economy can move on, even in a completely new world order.

While we are all inextricably tied together, in our little island nation we remain, thankfully, cocooned from actual physical threat (or so I hope). In fact, most of us in Asia are thankful that we actually live in an area of growth and development, even as we also have some territorial disputes.

While the Middle East crisis that started in February initially created an economic jolt with the sudden rise in fuel prices, Filipinos have been able to easily take the uptick in prices in stride.

Filipinos, perhaps in our best and strongest strength of coping with whatever is thrown our way, has been able to ride out the wave without any major protest or upheaval, except of course for a few clumsy attempt at some sort of political change, although that threat is still simmering below the surface.

I am surprised that most Filipinos are taking things in stride even though the equities market reflects the economic uncertainty.

Our overseas Filipinos, in fact, have returned to give our tourism sector a much needed boost. Based on the recent announcement from the Department of Tourism, overseas Filipinos from the US are now our top visitors, spending their hard-earned dollars shopping in our malls and visiting our various tourist attractions.

And that is where our private sector has been able to provide the one attraction that our foreign tourist visitors are spending on: to eat, shop, be cared for and be entertained.

It has also been a good move by the Department of Finance to put in place a duty-free shopping privilege for tourists, allowing them to buy more goods and, in turn, stimulate our local economy.

I have personally seen and watched this shopping bonanza countless times now in my preferred “exercise” mall, the Sy-led Mall of Asia or MOA.

In my opinion, and just in case you hadn’t noticed, SM Malls has shattered the luxury retail glass barrier that used to separate the Ayala-dominated Makati, or now called Ayala Commercial Center, from every other city in Mega Manila where luxury brands never crossed.

It is well-known (perhaps only in my generation) that the Makati crowd dislikes crossing over to Manila, Pasay or Parañaque, for that matter, to eat, shop or party.

It has actually been a slow, almost indiscernible move by a few luxury brands to MOA. If you are a brand lover, you may have noticed that well-known brands like Tommy Hilfiger, Jo Malone, Massimo Dutti and Maison Kitsune, just to name a few, have moved to prime locations in MOA. And soon, more well-known luxury brands Ralph Lauren and Aesop are opening their stores in the seaside mall.

But the most definitive move — which I noticed just this week —is the small white signage beside the Massimo Dutti shop indicating that the ultimate luxury brand, Hermès, is opening a small boutique to finally tap into the shopping vein of MOA.

OMG!

I thought landing the Läderach chocolate brand first in MOA was already the best indicator that MOA has now reached Ayala Malls’ level as the preferred location for foreign luxury brands.

Perhaps the small space that Hermès will initially occupy is a test to check just how much shopping clout SM Malls has gained. However, in my mind, that move is significant.

A few goodbyes

It seems Lucio Tan-owned Philippine Airlines is quietly effecting some changes in its communications department, marked by the departure of several veterans and the takeover of the department by another executive. I had promised not to identify those who had left and are set to leave, but expect an announcement soon. I had already been wondering why the airline’s communication department had been so quiet for quite some time.

Another jade of a restaurant

It seems that jade, which is a highly durable, historically significant gemstone primarily known for its rich green color, is a favorite name for Chinese restaurants.  In Chinese culture, jade is revered as the “Stone of Heaven” and is a symbol of luck, prosperity, purity and protection. It is often gifted to newlyweds or infants to ward off negative energy.

We already have the well-known Jade Garden in Ayala Commercial Center, but this time around BENCH founder Ben Chan has opened Crystal Jade at the basement 1 of Ayala Triangle. The compact restaurant, which has only one private room, is now a favorite among office workers.

It was surprising to see and greet Ben’s eldest brother, Liwayway Group’s Carlos Chan, eating at the restaurant with his people outside of the only private room, as the private room had already been taken by another party due to a “first-come, first-served” policy.