Monday, November 27, 2006

[RealEdge] TNP : Can new mall trounce old favourite?

ELECTRIC NEWS
Can new mall trounce old favourite?
Novena Square opens Velocity, which claims to be S'pore's first sports mall
By Desmond Ng
November 25, 2006    

IF you're a sports junkie looking for a good bargain, chances are, you'd head to Queensway Shopping Centre near Alexandra Road.

After all, most would consider it the place for the latest sports shoes, apparel and even football jerseys.

But it has a competitor now.

Click to see larger image
  • The Singapore Slingers at the opening of Velocity.--Picture: HEDY KHOO
  • The new Novena Square proudly proclaimed itself as the first sports mall here after unveiling its $22 million revamp and extension yesterday.

    It's called Velocity, with its reference to speed and, thus, sports.

    The mall - managed by United Overseas Land (UOL) - earlier had 130,000 sq ft spread over three storeys. The extension adds another 70,000 sq ft and 30 shops.

    With over 200,000 sq ft of space - about the size of five football fields - it is indeed a boon to sports aficionados.

    So what does that mean for the humble Queensway Shopping Centre?

    Velocity's management said that Queensway offers just sports products.

    UOL's chief operating officer, Mr Liam Wee Sin, explained: 'It's two different things. We're talking about a total sports concept here.

    'We're not just a sports retail mall. We'll plan sporting events, programmes and we also have health and fitness shops.'

    In the pipeline are street soccer tournaments and even an indoor triathlon, where participants will have to complete an intensive 30-minute fitness circuit.

    And as far as sports-themed malls go, no one has really positioned themselves thus, said property firm Knight Frank's executive director Danny Yeo.

    Queensway Shopping Centre is not really a sports mall, he added.

    Mr Yeo said: 'The second level of the mall is more fashion-based, geared towards men. To be a niche sports mall, it should also have retailers selling all kinds of sportsware like racquets, golf equipment and skateboards. In that sense, it's not that complete.'

    But he added: 'Queensway is very established. If you want to buy shoes, the variety is there. And there's a perception that one can get the best price there - that's its niche.

    'I'm sure Velocity can attract people curious to see the new mall. But at the end of the day, it depends on whether they can get people to spend money.'

    Click to see larger image
  • Queensway shopping centre
  • Currently, about 30 per cent, or 39 out of the 130 shops in Velocity are sports-related, but the management hopes to increase it to 50 per cent in two years' time.

    Some of the existing non-sports tenants will probably have to relocate once their leases expire, UOL said.

    For undergraduate James Wee, 24, it doesn't matter if a mall is sports-themed or not.

    For him, price is still the most important factor.

    He said: 'I want variety, but I'm also looking for a good deal. If I can find the same pair of sports shoes cheaper elsewhere, I'll go there.'


    VELOCITY OR VIVOCITY

    UNCLE, Velocity please.

    Don't be surprised if the taxi-driver drops you off at VivoCity at Harbourfront instead.

    After all, the two places sound almost alike.

    And it certainly doesn't help that both malls opened one month apart from each other.

    Velocity's management said it chose that name about a year ago, even though they knew about VivoCity.

    UOL's assistant advertising and promotions manager, Ms Toh Pei Shiang, said: 'We were looking for a suitable name and it's difficult to come by. The name must relate to the theme, it must be catchy and people must remember it.

    'We felt Velocity was a suitable name and we went ahead with it.

    'We didn't know our launch will be so close to VivoCity's.'

    Initially, even some of their suppliers were confused and sent materials to them addressed to 'VivoCity', said Ms Toh.

    She said she had to explain the difference to them.

    But she feels that it's a matter of time before people, and taxi-drivers, get used to it.

    She said: 'I think there may be some confusion in the beginning.

    'But we're very different, in terms of positioning and what we have to offer.

    'I think in the long run, people won't be confused.'

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