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Courts (Singapore) Limited consolidates its HQ, retail, warehouse and new innovation development functions - all unders its new megastore's roof.
Back in April 2004, the Singapore Economic Development Board (EDB) launched the Warehouse Retail Scheme (WRS), a pilot scheme designed to bring businesses operating on a regional scale from Singapore to a higher level. A giant tract of land in Tampines spanning 15 hectares (ha) was set aside, paving the way for major retailers to locate various functions such as HQ, logistics and retail activities in one centralised hotspot. Courts (Singapore) Ltd took the scheme seriously.
The opening of the 116,000 sq ft Courts Megastore, its largest retail outlet and positioned as "Singapore's newest lifestyle destination", was officiated by Lim Swee Say, Minister, Prime Minister's Office on December 2006.
"We are excited to be part of the WRS project as we believe that centralising our operations will enable us to operate more efficiently and bring about productivity gains," says Terry O' Connor, Managing Director, Courts (Singapore). "Retail offerings in Singapore will be taken up a notch, with retailers being given a platform to introduce innovative products and consumers being offered a totally new retail experience."
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(L-R): Dr Seet Ai Mee, Chairwoman, Courts (Singapore); Lim Swee Say, Minister, Prime Minister's Office; and Terry O'Connor, Managing Director, Courts (Singapore).
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BREAKING NEW GROUND
November 2005 saw three companies break ground for their WRS projects, estimated at a collective S$200 million (US$130.5 million), and Courts - a household name for being Singapore's biggest furniture, electronics and IT retailer - was one of them. At the combined groundbreaking ceremony with fellow WRS pioneers, Dairy Farm and IKANO Pte Ltd (IKEA Singapore), Courts declared its intention to locate its HQ at the designated site, with its retail, warehouse facilities and head office all based there.
O'Connor supports the WRS, saying, "I think it's a good development for the Singapore retail industry. It promotes healthy competition by providing alternative options for retailers and is actually in line with international trends in retailing to provide innovative and exciting retail options to consumers around the region."
The new HQ will see Courts introducing an innovation centre on-site that will be responsible for conceiving new retail concepts, customer-oriented tools and products. One such addition is a regional research centre for consumer finance to develop new region-wide credit products and schemes.
Courts will also work closely with local merchants to allow them to reap benefits from its new infrastructure. This is part of its plan to explore new business models for the retail arena. For example, the company has allocated rent-free space within its premises for retailers in Tampines to showcase their products and services.
"Courts Megastore combines the experience of innovative, new retail concepts at value price points," sums up O'Connor. "We are very proud of our flagship store and will work closely with our partners Ikea and Giant to promote this as a retail destination."
STRATEGIC GATEWAY
Besides catering to shoppers' diverse needs, the Megastore will serve as a strategic investment accelerating Courts’ growth in the Asia-Pacific region. From Singapore, Courts intends to expand its reach into the emerging markets of China, Vietnam and the Philippines. They will also embark on investigating new models of entry into markets such as the development of franchise models in Singapore. The company's HQ functions will be further bolstered by its decision to locally anchor its marketing, human resource management, buying and IT activities.
"Over the years, Courts has become an integral part of Singapore's retail scene," says Lim. "The expansion of activities here by Courts reaffirms our attractiveness as a business and management hub in the Asia Pacific."
With Courts' latest milestone investment taking off in a big way, Singapore's WRS is poised to pull in more heavyweight regional retailers looking to reap significant savings and productivity gains as well as grow their operations in, and from, the country.
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