CEOCambodiaNews wrote: ↑Thu Oct 05, 2023 1:31 am 1 min ago - BREAKING NEWS
Lucky Mall bust bursts retail bubble
The October 1 closure of Lucky Mall in Siem Reap signified farewell to the last vestiges of the retail boom that erupted in 2008 when a clutch of cash-registered Temples of Mammon thrust forth, all eager to profit from the tourism wealth flowing from the Temples of Angkor, a flow that was thought would never ebb– until it did.

The retail rush began early in 2008 when the four-storey Angkor Trade Centre opened on the riverside with a batch of trendy stores alongside, such as Swensen’s and The Pizza Company.

This was followed in August with the splashy opening of Lucky Mall, while simultaneously ground was being cleared for construction of another large Canadia Bank-financed mall, The Angkor Shopping Arcade, on National Road 6. Plus nearing completion was the construction of the supposed four-storey, 18-escalator, two-glass-encased-elevator, 430-store Royal Shopping Galleries.

But the consumerisation of Siem Reap was not only the domain of large shopping centres – in the weeks leading up to the Lucky Mall opening new stores emerged that included menswear shop Angkor Tep, iOne, an Apple authorised reseller, a Lucky Seven restaurant, the knock-off I Kea (Siem Reap) Spongy Furniture House and a smattering of 101 Fruit & Toot stores throughout the city.

In December an Adidas outlet launched following the debut Cambodia launch in Phnom Penh in early January, and KFC also announced that it would open a Siem Reap outlet in early 2009.

Most of those outlets are gone and all the grandly-envisioned malls are now either shut or verging on the derelict.
https://www.khmertimeskh.com/501371460/ ... il-bubble/

Jerry Atrick wrote: ↑Thu Oct 05, 2023 8:26 am
Lucky Mall - "Temples of Mammon"?

This deluded KT hack would do better to look at some of the vulgar nouveau rich mansions around S.R to see what "Temples of Mammom" actually are

Because a small grocery outlet like Lucky isn't it & two or three stores no longer existing after 15 years isn't any evidence of a retail bubble bursting especially in a town like SR - whose main economy has been artificially decimated over the last 32 months

I knew which gimp wrote that trash before even clicking to confirm the byline. Probably bashed out in ten minutes two bottles of wine deep without any proofread or editorial eye being involved.