Dr Seshan Ramaswami, associate professor of marketing education at Singapore Management University, citing a collaboration launched last October between American blogger Leandra Medine and luxury e-retailer Net-A-Porter as an example, says: "All three parties benefit.
"The brand gets a temporary boost in star power, stars get to build their brand names when the collection is promoted and consumers are able to get their hands on one-of-a-kind items.
"So for all these reasons, collaborations are likely here to stay, and to grow," he adds.
The beauty of offering limited- edition tie-up collections is that they create a "sense of urgency among interested shoppers", says Ms Regina Yeo, adjunct senior lecturer of marketing at the National University of Singapore Business School.
"Interested shoppers feel that they must take quick action and buy the merchandise before it runs out of stock," she says, adding that this creates excitement and helps to boost sales.
Research firm Euromonitor International does not have specific data on the trend of fashion collaborations.
However, its research associate Yvonne Wong says that such partnerships have "reached new heights in recent years" and are gaining interest among consumers as they "successfully grab consumer attention, especially among millennials who pursue 'newness' to differentiate themselves".
Fashion house and character collaborations, in particular, are expected to remain strong, she says, adding that the trend will be partly driven by big movie sequels and franchises, such as Toy Story, The Avengers and Star Wars, which are all set for new releases over the next two to three years.
Disney Singapore, for instance, has partnered at least four local brands here ahead of its movie releases.
It has worked with jewellery brand Carrie K., womenswear brands Collate The Label and Elohim by Sabrina Goh, and menswear label biro on themed collections inspired by movies such as Beauty And The Beast (2017), Alice In Wonderland: Through The Looking Glass (2016) and Rogue One: A Star Wars Story (2016).
Fashion, says Ms Gillian Archer, Singapore country director of retail and licensing at The Walt Disney Company Southeast Asia, is a great way to connect with young adults.
"Being locally relevant is important to Disney, so we look for designers who understand the preferences and tastes of consumers here," she says.
As for Puma, who has collaborated with various artists including singer Rihanna and American personality Kylie Jenner, partnerships make sense as they help to re-imagine the brand's iconic products.
"We fuse concepts to redefine the creative direction. It's two parties bringing ideas onto a blank page to co-create and co-build," says Mr Yassine Saidi, head of Puma Select, the brand's collaboration range.
So what is the way forward for collaborations?
NUS' Ms Yeo points to fashion and beauty labels partnering non-governmental organisations, as more consumers embrace a lifestyle of health and sustainability.
"It's about educating consumers to make smart and responsible choices for a better world to live in," she says, adding that the tie-up is also good for brand image.
Retailers are already moving in this direction.
One example is adidas' collaboration with American environmental protection organisation Parley For The Oceans on a collection of running shoes made from upcycled plastic waste from the ocean, which was released in Singapore in June this year.
Singapore rapper Nur Ahmad Muhaimin, 28, says that such tie-ups spark his interest.
The fan of fashion collaborations, who goes by the name Mean, spent $3,000 on a carabiner, two pouches and three brooches from Louis Vuitton's collaboration with label Fragment Design in April.
"It depends on the brands involved but, generally, it sparks my interest when I hear of collaborations. I will find out what they are coming up with and see if it's worth buying or if it's a collector's item," he says.
"I think it's nice to bring two different worlds together and collaborations between fast-fashion labels and luxury brands give access to people who otherwise would not have been able to afford a luxury item."
Five popular collaborations in Singapore and worldwide
1 LEMAIRE AND UNIQLO
French designer Christophe Lemaire, 52, first collaborated with the Japanese retailer in October 2015 and then again in March last year.
The two collaborations were so successful that the Japanese retailer hired Lemaire as artistic director for its new research and development centre in Paris. The designer, who runs the Lemaire label with his life partner Sarah-Linh Tran, still holds that post.
The collections, which feature mainly minimalistic style clothing, were launched globally, including in Singapore. Prices ranged from $29.90 for a T-shirt to $269.90 for a men's cotton parka.
The launches, says a Uniqlo spokesman, attracted queues outside its Ion Orchard store and did well online too.
Collaborations are not new to Uniqlo, which has partnered former editor-in-chief of Vogue Paris Carine Roitfeld and Paris-based womenswear and accessories designer Olympia Le-Tan.
2 LOUIS VUITTON AND SUPREME
This collaboration, part of Louis Vuitton's Autumn/ Winter 2017 men's collection, was highly anticipated worldwide as it was the coming together of two brands from seemingly separate worlds - a high-end French luxury brand and a cult skate brand with underground roots. The resulting range, launched in Singapore last month, was so popular that shoppers queued up overnight for a chance at one of 350 ballot tickets, each allowing them to buy up to five items from the collection.
Most of the limited-edition items, including leather backpacks, T-shirts, denim jackets and iPhone cases, are branded in Supreme's signature red hue or Louis Vuitton's monogram print.
While Louis Vuitton declined to reveal prices, streetwear website Highsnobiety said the Christopher Backpack in red or black Epi Leather cost about US$4,350 (S$5,950).