SPORTS retailer Nike has invested $5 million in a new flagship store in Orchard Road, unfazed by the economic gloom.

The store which took over the two-storey duplex previously occupied by Topshop in Wisma Atria is the first store owned and operated by the brand itself. All previous Nike shops were opened with local partners.

This is the first flagship by the brand in South-east Asia and also the first in Asia to have Nike's T-shirt customisation service.

Mr Glenn Heng, the country marketing manager, said they the company does not think that business expansion should grind to a stop in bad times.

He said: 'We are quite positive about everything.'

In Singapore, with the renewed focus on sports as a result of Singapore winning the bid to host the first Youth Olympic Games in 2010, and the rising interest in sports, it is a good time for the sports retailer to make inroads into the region.

The Orchard store, Mr Heng said, is the first of a series of flagships they are looking to open within the region.