Singapore Retail News

Recent industry report about Singapore Retail company news, including latest market trends and industry updates in 2024. This sector news is compiled by Mordor Intelligence™ Singapore Retail Market industry experts.

Retail in Singapore Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

Singapore Retail News

In April 2021, Singapore homegrown retailer Naiise has shut down after struggling to survive through the pandemic, with its owner Dennis Tay filing for personal bankruptcy.

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  • In October 2022, in order to connect all user interactions, whether they take place offline, online, in augmented reality, or even in the metaverse, the Central group launched the Next-Gen Omnichannel platform, which will encompass the Central Retail network in Thailand, Vietnam, and Italy.
  • In February 2022, the fourth wave of the COVID-19 pandemic in HCM City caused several fluctuations in the supply chain of commodities, and modern retail businesses had to adapt by changing their distribution systems rather than continuing to play the traditional function of delivering items to customers on-site.

In April 2021, Singapore homegrown retailer Naiise has shut down after struggling to survive through the pandemic, with its owner Dennis Tay filing for personal bankruptcy.

  • February 2024: DFS Group partnered with Douyin Life Service, a short video platform in China. The partnership aims to improve international travel retail shopping experiences.
  • June 2023: DFS entered a strategic partnership with Ctrip Global Shopping and Unipay International. These partnerships aim to strengthen digitalization in the travel retail market.
  • In October 2022, in order to connect all user interactions, whether they take place offline, online, in augmented reality, or even in the metaverse, the Central group launched the Next-Gen Omnichannel platform, which will encompass the Central Retail network in Thailand, Vietnam, and Italy.
  • In February 2022, the fourth wave of the COVID-19 pandemic in HCM City caused several fluctuations in the supply chain of commodities, and modern retail businesses had to adapt by changing their distribution systems rather than continuing to play the traditional function of delivering items to customers on-site.

In April 2021, Singapore homegrown retailer Naiise has shut down after struggling to survive through the pandemic, with its owner Dennis Tay filing for personal bankruptcy.

  • In February 2022, Element Six UK Ltd collaborated with II-VI Inc. Through this collaboration, II-VI licenses Element Six's intellectual property and necessary equipment would produce high-quality single-crystal diamonds to expand its core competency in diamond technology.
  • In July 2021, Element Six UK LTD and the University of Warwick entered a partnership to develop the next generation of synthetic diamond-enabled technologies. Under this partnership, Element Six applied its renowned expertise and capabilities in advanced material solutions.
  • October 2024: Regeneron Pharmaceuticals reported that its eczema treatment, Dupixent, contributed to better-than-expected third-quarter results, highlighting its strong demand.
  • October 2024: Sanofi presented positive Phase 2b data for amlitelimab, a potential first-in-class treatment for moderate-to-severe atopic dermatitis. The results demonstrated significant improvements in disease signs and symptoms, supporting the initiation of a Phase 3 program in early 2024.
  • September 2024: Eli Lilly received FDA approval for Ebglyss, an injectable drug for eczema, approved for use in adults and children over 12.
  • April 2024: AbbVie's drug Rinvoq demonstrated superior efficacy compared to Regeneron's Dupixent in treating moderate-to-severe atopic dermatitis, according to a head-to-head study.
  • September 2024: Parexel announced the strengthening of its Real World Research (RWR) offering by integrating its Scientific Data Organization and Real World Evidence capabilities. This initiative aims to better meet growing customer needs and enhance the company's ability to provide valuable insights using real-world evidence for clients worldwide.
  • August 2024: Eli Lilly announced positive topline results from the SURMOUNT-1 three-year study evaluating the efficacy and safety of tirzepatide for long-term weight management and delay in progression to diabetes in adults with pre-diabetes and obesity or overweight. Tirzepatide significantly reduced the risk of progression to type 2 diabetes by 94% among adults with pre-diabetes and obesity or overweight compared to placebo.
  • August 2024: Pfizer and BioNTech announced top-line results from their Phase 3 clinical trial evaluating a combined mRNA vaccine candidate against influenza and COVID-19 in healthy individuals aged 18-64. The combination vaccine met one of its two primary immunogenicity objectives.
  • July 2024: Thermo Fisher Scientific announced a partnership with the National Cancer Institute (NCI) to advance the myeloMATCH precision medicine clinical trial. This collaboration utilizes Thermo Fisher's next-generation sequencing technology to rapidly match patients with appropriate clinical trials for Acute Myeloid Leukemia (AML) and Myelodysplastic Syndrome (MDS), aiming to accelerate research into new treatments for these conditions.
  • July 2024: ICON plc expanded its decentralized clinical trial capabilities by integrating advanced digital health technologies to enhance patient engagement and data collection.
  • November 2024: Truworth Wellness launched an AI-driven wellness platform designed to offer personalized health recommendations to employees, enhancing engagement and outcomes.
  • October 2024: Quest Diagnostics introduced a new suite of biometric screening services tailored for corporate clients, aiming to provide more detailed health insights for employees.
  • September 2024: Privia Health expanded its corporate wellness services by integrating mental health support into its existing programs, addressing the growing need for comprehensive employee well-being solutions.
  • August 2024: Virgin Pulse partnered with Cigna Healthcare to launch a personalized digital platform aimed at enhancing individual health and well-being.
  • August 2024: Wellsource updated its health risk assessment tools to include modules on mental health and stress management, reflecting the increasing importance of holistic wellness in the workplace.
  • October 2024: Abcam, now a subsidiary of Danaher Corporation, unveiled a new range of exosome-specific antibodies and kits to support advanced exosome research, focusing on improving detection and characterization methodologies.
  • September 2024: Bio-Techne announced the development of a novel exosome-based diagnostic platform aimed at enhancing biomarker discovery and development across multiple disease areas, including oncology and neurodegenerative disorders.
  • August 2024: Qiagen expanded its exosome product line by releasing the "miRCURY Exosome Kits," which utilize precipitation methods to efficiently isolate exosomes from various biofluids, facilitating downstream molecular analyses.
  • July 2024: Fujifilm Wako Chemicals U.S.A. Corporation launched the "MagCapture™ Exosome Isolation Kit PS Ver.2," an enhanced version aimed at improving the purity and yield of exosome isolation for research applications.
  • June 2024: Thermo Fisher introduced the "Exosome Isolation and Analysis Suite," a comprehensive toolkit designed to streamline exosome research by integrating isolation, characterization, and analysis processes.