Siam Piwat Group, Thailand's foremost developer of world-class destinations, is making a bold move to redefine its groundbreaking properties and collaborate closely with retailers. This strategic initiative aims to reinforce its position as a leader in the luxury market by offering destinations that offer one of the most extensive collections of luxury brands globally.
In today's luxury business landscape, catering to the indulgent desires of people from all walks of life and age groups is essential. Siam Piwat owns and operates global destinations like Siam Paragon, ICONSIAM, and Siam Premium Outlets Bangkok—the sole luxury outlet mall in Thailand. Together, these destinations command the largest share of the luxury market in the country. Siam Piwat has consistently placed itself at the forefront of the rapidly evolving luxury industry.
Caroline Murphy, President of Sales and Business Relations at Siam Piwat Co., Ltd., emphasised, "Siam Piwat's ascent to the pinnacle of the luxury market is attributed to our deep understanding of global trends, the needs of affluent consumers, and the expectations of leading luxury brands. Through co-creation, we partner with luxury brands to curate distinctive products and deliver exclusive experiences ahead of the curve. We not only have a strong and loyal customer base but also maintain enduring relationships with top luxury brands who trust our ability to create world-class destinations. We provide each brand with a platform to achieve their highest sales in the region, often ranking among their global top performers."
Siam Paragon, located in the heart of Bangkok, stands as a world-class landmark that has captured the hearts of Thai and international visitors for nearly two decades. Meanwhile, ICONSIAM, another visionary destination developed by Siam Piwat, celebrates its fifth anniversary in 2023. ICONSIAM has redefined industry standards as a unique luxury destination and a symbol of Thailand's prosperity, benefiting the surrounding communities and businesses. Despite the challenges brought on by the COVID-19 pandemic, ICONSIAM successfully elevated the Chao Phraya River area and transformed the Thonburi side of the city into one of Bangkok's rapidly developing business and tourism hubs. ICONSIAM is currently planning to double the space allocated to luxury brands, fortifying its status as an essential shopping destination for global luxury brands.
Caroline's contributions have been instrumental in maintaining Siam Paragon and ICONSIAM's status as the ultimate destinations for luxury brands. Additionally, Tipanat Lenbury, Senior Executive Vice President of the Sales and Business Relations Division, a seasoned executive with over two decades of expertise in luxury market management, has recently joined the team.
Tipanat affirms, "Siam Piwat is the most trusted luxury developer in Thailand, and both Siam Paragon and ICONSIAM continue to be the preferred destinations for all luxury brands. In October 2023, we will inaugurate the new Luxe Hall in Siam Paragon, showcasing twenty leading luxury brands. This includes exclusive-to-Thailand boutiques for newcomers like Loro Piana, the first men's collection boutiques from Fendi and Louis Vuitton, as well as prominent luxury watch brands such as Vacheron Constantin, Jaeger Le Coultre, IWC, Panerai, Piaget, Chopard, and Franck Muller."
The New World of Luxury
Siam Paragon has embarked on a significant transformation to create the "New World of Luxury," offering a diverse range of experiences that resonate with all visitors, establishing an ideal community for global citizens. Striving for unparalleled excellence to meet the lifestyle needs of the future, Siam Paragon is introducing a pioneering, multifaceted concept—a first not just in Thailand but globally.
Caroline states, "With this renovation, Siam Paragon intends to expand the breadth and depth of our luxury offerings to an unprecedented regional level. This will attract a new community of younger, affluent customers who will become loyal patrons of this exceptional destination."
In early 2023, Siam Paragon opened a public space, the Wall of Wonders, as an interactive platform for customers to suggest exciting new additions. These ideas have informed the creation of various zones tailored to each community's preferences. Employing cutting-edge technology, Siam Paragon stays ahead of evolving trends, fulfilling visitors' lifestyle needs and exceeding expectations in terms of experiences.
Caroline adds, "We will once again redefine excellence through collaborations with retailers who have already launched phenomenally successful flagship stores with us. As part of our upcoming phase, we will collaborate with them to create iconic, one-of-a-kind stores that will set a new benchmark of excellence in Thailand."
The comprehensive renovation is gearing up to unveil new zones later this year, featuring a completely revamped look by mid-2024, all designed to cater to the demands of the "New World of Luxury."
