Siam Piwat forges ahead with a pioneering prototype for world-class luxury destinations
BANGKOK, March 11, 2025 /PRNewswire/ -- Siam Piwat, Thailand's leading real estate and retail developer and operator of global destinations Siam Paragon and ICONSIAM, is pioneering a new prototype for world-class luxury destinations. The initiative reinforces Siam Piwat's position as the preferred destination for leading luxury brands seeking to expand into the Thai market and leverage the capabilities of its platform, which has proven track records of helping brands achieve the highest sales in the region and frequently ranking among the world's top performers.
In 2025, both Siam Paragon and ICONSIAM will double their luxury floorspace to welcome 15 new and exclusive luxury brands, including Belgian luxury leather goods house Delvaux, Boucheron and Faure Le Page, all the three opening at Siam Paragon. They will also welcome the largest number of duplex and triplex luxury flagships in the country – a total of 13 - consisting of 6 luxury duplexes and one luxury triplex at Siam Paragon and 6 luxury duplexes at ICONSIAM. In the second half of 2025, Siam Paragon will unveil a new luxury dining zone, the first of its kind in Thailand, featuring new restaurants making their debut in Thailand, along with Michelin-starred chefs who will bring exclusive new concepts for Siam Paragon's discerning diners.
Tipanat Lenbury, Chief of Sales and Business Relations at Siam Piwat Co., Ltd., stated, "Siam Piwat Group has a strong foothold in the luxury market, having the largest market share of 70% in Thailand's luxury retail market and the highest revenue per square meter. Our platform has enabled various brands to achieve the highest sales in the region and occasionally in the world. As a result, we now host the largest number of luxury stores for 90 brands, and have the largest luxury retail space of 35,000 square meters, with the country's highest investment in iconic stores as well as the highest number of luxury pop-up stores and global exhibitions of 132."
The "luxury market" in Thailand has demonstrated steady growth potential and garnered increasing interest from leading brands. The success of Siam Paragon and ICONSIAM, particularly in the fine jewelry and timepiece segments has enhanced Siam Piwat's competitive strength as a global developer of luxury destinations, catering to the highest-spending clientele in Thailand.
Thanaporn Tantiyanon, Head of Business Unit, Siam Paragon, stated, "The luxury market is moving forward to a significant transformation. New trends will be driven by younger consumers and Gen Z, who place a deeper emphasis on the value of products. They favor rare, high-quality items that are practical, unique, and tailored specifically to their needs."
Siam Piwat is committed to creating a new paradigm of luxury destinations through comprehensive strategies as follows:
1. Curation & Co-creation: Siam Piwat collaborates with global brands and partners through co-creation to build an ecosystem that delivers experiences beyond expectations. The two malls remain central hubs, offering the most comprehensive selection of luxury brands in Thailand, including Delvaux, opening Thailand's first boutique in Thailand at Siam Paragon and Chaumet, launching the first and only boutique at ICONSIAM.
2. Luxury for All: Making luxury accessible to everyone
Siam Piwat provides opportunities for the new generation to experience luxury brands through pop-up stores that blend innovation with distinctive character.
3. Extraordinary Experiences:
Siam Piwat, which is honored to manage Le Café Louis Vuitton in Bangkok, continues to enhance Siam Paragon and ICONSIAM's shopping experience by elevating it into a comprehensive luxury journey, encompassing luxury dining, art exhibitions, and premium services.
4. New Affluent Community: Building young HNW customer base
Siam Piwat takes major step to enhance its luxury CRM program with innovative approaches aiming to expand into its global citizen. It recently launched JAI by ONESIAM, a world-class luxury lifestyle club designed to create a borderless community and offer exclusive experiences.
5. Sustainable Luxury:
Siam Piwat supports brands that emphasize sustainability across all dimensions, from material selection to production processes, packaging, stakeholder management, and creating positive impacts. The company is also committed to fostering an environmentally conscious and socially responsible lifestyle, catering to a new generation of consumers.
Siam Piwat has reinforced its leading position as the number one global destination developer with more than 25 luxury-related awards from leading institutions. Notably, ICONSIAM won the Best Luxury Shopping Mall in Thailand from Luxury Lifestyle Awards 2024 and the Iconic Thai Brand award from Tatler Asia.ICONSIAM also won the Asia's Most Innovative Shopping Experience award from the Cathay Members' Choice Awards 2024, was ranked as the best luxury shopping destination in Asia, and the fourth globally by The World's Most Luxurious Shopping Malls of 2024, according to Luxurious by Marketing Mentor.
Siam Piwat is dedicated to being a leader in pioneering luxury experience that not only meets current demands, but also drives the luxury industry towards new standards for the future.
SOURCE Siam Piwat
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