Siam Center Selected as One of World's 5 Best-designed Retail Centres by International Council of Shopping Centers

BANGKOK, Aug. 26, 2015 /PRNewswire/ -- Siam Piwat Co., Ltd., the owner and operator of Siam Center as well as prestige retail development Siam Paragon, today announced that it has been selected as one of the world's five best-designed retail centres by the retail industry's leading international association - the International Council of Shopping Centers (ICSC).

Siam Center is one of five honorees from around the world presented with the 2015 ICSC VIVA Award in the 'design and development' category and is recognized for 'most outstanding design'. The award follows Siam Center's selection in 2014 as a Gold Award Winner by the Asia Pacific Shopping Center Awards for its innovative new design.

Siam Center completed a full-scale rejuvenation in 2013 with an investment in excess of Bht 1,800 million by Siam Piwat and 300 brand owners in the biggest collaborative initiative in retail development ever undertaken in Thailand.

Mrs. Chadatip Chutrakul, Chief Executive Officer of Siam Piwat Co., Ltd. said: "We are very honoured by the ICSC's award. We want to help make Bangkok a top global shopping destination by being at the forefront of new ideas in the design of our properties. Siam Center is one of the first lifestyle destinations in the world to pioneer a revolutionary new retail concept that involved collaboration between retail developer, retailers, and brand owners to create a consistent visual identity in the entire venue as well as concept shops which are all aligned with Siam Center's distinctive look and mood. That collaboration even extended to presenting visitors with a single promise: that, regardless of whichever store or restaurant they visited at Siam Center, they would experience something revolutionary and unexpected."

Mrs. Chadatip said that Siam Piwat decided to make a major investment in Siam Center in line with the evolution of retailing, "which is no longer just about retailing, but about providing extraordinary experiences in an arena where people can be inspired, excited and entertained."

"Siam Piwat's strategy for success across all our properties is to be a thought-leader in retail development, always innovating, always being first, and always doing it at world-class standards as an 'Icon of Innovation'," Mrs. Chadatip said. 

According to Mrs. Chadatip, after Siam Center introduced its award-winning design and concept, it has measured significant increases in visitors, in the number of visitors actually shopping, and in the average spending by each visitor.

"Since the new concept was introduced, the number of people visiting Siam Center has increased by almost 12,000 people a day, as compared to the year before. And, of those people visiting Siam Center, the number of people who actually do some shopping at the venue has leapt by an incredible 34%.

"Beyond that, the average spending by shoppers has more than doubled and is now at almost Bht 3,000 per shopper, per visit. This reflects the success of the collaboration between retailers, brand owners and Siam Piwat to excite and inspire visitors," Mrs. Chadatip said.

Mrs. Chadatip added, "Our success with Siam Center reinforces our conviction that thought-leadership will drive Siam Piwat's success and our future growth will come from offering novel concepts as well as new retail and lifestyle ideas that are the first in Thailand, and some even in the world."

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SOURCE Siam Piwat Co., Ltd.