Takashimaya commits to Thailand

Luxury Japanese department store Takashimaya has chosen IconSiam for its first Thai location.

Takashimaya will anchor the new $1.5 billion shopping centre under construction on the banks of the Chao Phraya River in Bangkok.

The partners will spend US$93 million constructing and fitting out a 36,000sqm store spanning seven floors, which will open in 2017. It will carry a full range of luxury brands, cosmetics, ladieswear, ladies’ accessories, menswear and accessories, lifestyle products, as well as premium food and beverage offerings.

IconSiam chairman Pasinee Limatibul said the joint venture with Takashimaya will help fulfill the company’s promise to make IconSiam a place “where the best of the world meets the best of Thailand”.

Takashimaya BKK announcement

  • Pasinee Limatibul, chairman of IconSiam with Koji Suzuki, chairman of Takashimaya.

“Takashimaya selects only the primest locations for its new stores and establishing a new, global landmark store at IconSiam further strengthens IconSiam’s position as a new landmark location for Bangkok.”

Yutaka Yamaguchi, MD of the Thailand project for Takashimaya added: “Our new store in Bangkok will be a sensation. We know that IconSiam’s location will attract millions of visitors annually from around the region, and the world. We aim to complement that with one of the strongest supply chains in this sector to offer consumers a host of ‘first-time-in-Thailand’ Japanese and international brands.

“There will be a great selection of products that will be exclusively available at this location,” said Yamaguchi.

“We look forward to working closely with Thai manufacturers, suppliers and service providers as well as distributors of Thai products to create an exciting new retail experience that brings together an extraordinary and complete range of products.”

He said Takashimaya is studying plans for the potential opening of more stores in Thailand in the future.

Narong Chearavanont, Vice Chairman of IconSiam, said the company’s ambition is to help make Bangkok the Retail Capital of Asia.

“This important investment in Thailand by a top Japanese department store operator is a sign of confidence in the strength of the domestic economy. The joint venture enhances Thai-Japanese commercial relations and will also help Thai products find markets in Japan through Takashimaya’s distribution system.”

Established more than 180 years ago, Takashimaya is one of Japan’s most admired department store operators, with 22 stores in operation. It has another under construction in downtown Ho Chi Minh City which will mark its entry into Vietnam.

Said Yutaka: “Thailand is an important destination for Takashimaya because Thai per capita income is reaching a level that will create a rapidly expanding customer base of people who both seek and can afford the type of quality products we offer.”

You have 7 articles remaining. Unlock 15 free articles a month, it’s free.