Facebook Likes alone not enough to prevent HMV from closing one outlet

HMV to close its flagship store in Somerset. His Master's Voice will soon be a soft whisper at Marina Square.

Martino Tan| September 29, 07:48 AM

HMV Singapore has more Facebook fans online than HMV Hong Kong and HMV Ireland.

But this online support matters little if Singaporeans are not purchasing music albums.

HMV FB Pages

 

HMV will soon shut down its flagship store in Somerset for good. This is just two weeks after local music store Gramophone announced its closure.

In its heyday, HMV's store in Hereen was Singapore's largest music store.

It was also HMV's first store in South-east Asia when it opened in 1997 as Hereen's anchor tenant.

 

Just one HMV store left in Singapore

 

HMV FB

In its FB reply to a fan, HMV Singapore said that they were just "moving out of 313@Somerset".

The store is having a sale until Nov. 4, with 30 percent discounts.

The move means that HMV's Singapore presence will be reduced to a single, smaller outlet at Marina Square.

[quipbox float="right" boxcolor="000000" boxhead="HMV Singapore stores over the years"]

 

1997: Opened its flagship store as the anchor tenant at The Heeren

Hereen: 25,000 sq ft over three floors

2000: Opened a second store as the anchor tenant at CityLink

CityLink: 10,000 sq ft

2002: Gave up 1,000 sq ft at The Heeren's 2nd level.

2002: Reduced the size of its CityLink store.

2006: Underwent a three-month, $500,000 renovation at Heeren store

Hereen: Reduced to 17,000 sq ft

2009: Gave up its Heeren store and moved to 313@Somerset

313@Somerset: 12,500 sq ft

June 2011: Closed its CityLink Mall store.

November 2011: Opened its store at Marina Square

Size: 5,600 sq ft

September 2013: Announced its plans to close the 313@Somerset outlet on Nov 4

[/quipbox]

In March this year, the managing director of HMV Hong Kong and Singapore was optimistic about HMV Singapore's prospects.

She said that "Singapore still has a very big CD market" and that  "HMV has a 25 per cent share of the music market in Singapore".

 

Fewer FB fans, but better businesses in Hong Kong

 

Hong Kong-based private-equity firm AID Partners bought HMV’s Hong Kong and Singapore businesses in March 2013, even as the music industry struggle from a consumer shift toward online shopping and digital downloads.

HMV appears to be thriving in Hong Kong, with six HMV stores.

Last year, the Hong Kong businesses posted revenues of HK$300 million, with Singapore contributing around HK$70 million.

 

Featured Photo from HMV Singapore Facebook.

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