Singapore's Hao Mart Shutters Final Premium Store Amid Growing Losses

Premium Concept Ends

Hao Mart's final Eccellente premium grocery outlet has shuttered, ending the Singapore minimart chain's foray into upscale retail. The store, which occupied space on Marina Square's second floor, ceased operations in June when its lease reached its natural expiration, according to SingLand, one of the mall's co-owners.

The closure eliminates the last remnant of what was once a broader premium strategy. At least seven other Eccellente locations had already shut down, including stores at KINEX, Far East Plaza, and East Village. The chain launched the Eccellente format to target higher-income shoppers with imported goods and specialty products, differentiating itself from standard convenience store offerings.

Shrinking Footprint

Beyond its premium brand, Hao Mart has dramatically contracted its overall retail presence. Only six conventional stores remain operational across Bedok, Canberra, Pasir Ris, Bukit Panjang, Potong Pasir, and Whampoa. The company's website, however, continues to display 20 locations, including Eccellente outlets and other stores that have ceased trading.

The discrepancy between listed and operating stores suggests the pace of closures may have outstripped the company's ability to update its public-facing information.

Mounting Financial Pressure

The retail contraction coincides with severe financial strain. Hao Mart recorded a loss of S$49.6 million for the financial year ending March 31, 2025. The figure represents the third consecutive year of expanding losses, signaling deepening operational challenges rather than temporary setbacks.

Founded in 2018, Hao Mart positioned itself as a neighborhood supermarket and convenience chain serving residential areas. The company later diversified into multiple formats, including the Eccellente premium stores and Taste Orchard, a food-focused lifestyle mall that replaced the former OG Orchard Point department store location.

Legal Entanglements

The retailer now faces five separate High Court lawsuits tied to its business operations and former leases. Two cases involve department store operator OG, which is seeking S$6.6 million from Hao Mart for alleged lease violations. OG claims Hao Mart failed to pay rent for the period between January and November 2024 and sublet portions of its premises without securing landlord approval.

Additional legal actions have been filed by property agency PropNex Realty and one of its agents, skincare firm Belovie, and hair and scalp care company Bio Organicare Scalp. Many of these disputes stem from the closure of the Taste Orchard concept, which has since ceased operations entirely.

Broader Retail Headwinds

Hao Mart's troubles reflect wider challenges facing mid-tier grocery and convenience chains in Singapore. Rising rents, labor costs, and competition from both discount operators and premium supermarkets have compressed margins for retailers occupying the middle market. The city-state's retail landscape has seen similar consolidation among smaller grocery chains unable to match the scale advantages of major players or the niche appeal of specialty stores.

The collapse of the Eccellente format also underscores the difficulty of sustaining premium grocery concepts without strong brand differentiation or supply chain efficiencies. While Singapore's affluent consumer base has supported luxury retail in categories like fashion and electronics, premium groceries face stiffer competition from established international chains with deeper sourcing networks.

The legal disputes over unpaid rent signal cash flow problems that likely accelerated store closures. With outstanding liabilities exceeding S$6 million in the OG case alone, Hao Mart's ability to negotiate new leases or invest in remaining stores appears constrained.

What Comes Next

The retailer has not publicly outlined a turnaround strategy or commented on plans for its remaining six stores. The outdated store listing on its website and lack of public communication suggest limited resources for corporate functions beyond day-to-day operations.

For Singapore's retail property market, the string of Hao Mart closures adds to vacant ground-floor and basement retail space in suburban malls and mixed-use developments. Landlords will need to find replacement tenants in an environment where traditional grocery and convenience formats face structural pressures from online delivery platforms and changing consumer habits.

The outcome of the pending lawsuits may determine whether Hao Mart can stabilize its operations or faces further contraction. With three years of widening losses and mounting legal liabilities, the chain's trajectory suggests more closures ahead unless new capital or strategic partnerships materialize.