Singapore’s minimart chain, Hao Mart has officially closed its last upscale Eccellente supermarket outlet in June this year, bringing an end to its premium grocery store concept in the extremely challenging retail scene in Singapore.
The last store located at Marina Square shut its operation in June after its lease expired. In the past, Eccelente has 8 stores in Singapore.
Hao Mart has also significantly reduced its footprint in the country with just 6 stores still operating, compared to more than 20 in the past.
Hao Mart has gone through a difficult financial period with S$49.6 million (US$38.78 million) loss reported for the year ended 31 March 2025. This represents its 3rd straight year of losses. Hao Mart has also become entangled in a series of lawsuits relating to its operations and tenancies.
Haomart opened in 2018 and positioned itself as a neighbourhood minimarket chain, but it started to face intense competition from major players Fairprice, Cold Storage and Sheng Shiong which have larger operations in the country.
