FairPrice turns 50: Seven facts about the supermarket chain

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FairPrice turns 50: Seven facts about the supermarket chain
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Here are seven facts you may not know about FairPrice: 1. FairPrice and Sheng Siong share the same labour roots In 1978, then MP and National Trades Union Congress (NTUC) president Phey Yew Kok invested $17,000 of unapproved union funds to set up Savewell,...

After being spurned repeatedly, it entered into property development with CapitaLand, then known as DBS Land, to build Tampines Mall and became its anchor tenant. Today, it is the supermarket that every mall developer hopes to have.Liberty Market, with its array of American products, opened in Plaza Singapura in 1998 and Jurong Point in 2000. The American appeal soon wore off, with the Jurong Point outlet closing in 2002 and the Plaza Singapura outlet in 2003.

FairPrice is eyeing new markets but hints it may do things its own way – such as by marketing its fast-growing range of house brands abroad.It toppled Carrefour after the global giant entered Singapore in 1997. Not only did FairPrice set up stores in Plaza Singapura and Marina Square near Carrefour’s Suntec City outlet, it also blocked Carrefour’s entry into the heartland by putting in a bid for the same Hougang Point spot Carrefour wanted.

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