Siam Piwat, a leading real estate and retail developer and the owner and operator of global destinations Siam Paragon and IconSiam, is pioneering a new prototype for world-class luxury destinations.
The new model reinforces Siam Piwat’s position as the preferred destination for leading luxury brands seeking to expand into the Thai market. The model leverages the capabilities of Siam Piwat’s platform and its proven track record of helping brands achieve the highest sales in the region, regularly ranking among the world’s top performers.
This year, both Siam Paragon and IconSiam will more than double the retail space devoted to luxury brands. Both malls will welcome an unprecedented number of new and exclusive luxury brands and the largest number of luxury duplex flagships in the country.
Additionally, in the second half of this year, Siam Paragon will unveil a new luxury dining zone, the first of its kind in Thailand, featuring new restaurant brands making their Thai debut, along with Michelin-starred chefs who will bring exclusive new concepts for Siam Paragon’s discerning diners.
Explains Tipanat Lenbury, chief of sales and business relations at Siam Piwat: “Siam Piwat Group has a strong foothold in the luxury market, having the largest market share – around 70 per cent – of Thailand’s luxury retail market and the highest revenue per square metre. Our platform has enabled various brands to achieve the highest sales in the region and occasionally in the world.”
Accordingly, Siam Piwat now hosts 90 luxury brand stores and the city’s largest luxury retail space of 35,000sqm. “We have the country’s highest investment in iconic stores as well as the highest number of luxury pop-up stores and global exhibitions – 132,” Lenbury added.
The leading choice for flagship launches
Beyond curating one of the world’s most comprehensive luxury lifestyle offerings, Siam Piwat Group has consistently been trusted by leading brands as the chosen venue for launching flagship and concept stores. Such strong partnerships with brands will see 15 new and exclusive luxury brands debut with the group this year, including the Belgian luxury leather goods house Delvaux, Boucheron, and Faure Le Page. All three will open at Siam Paragon.
“We will also welcome the largest number of duplex and triplex luxury flagships in the country – 13 in all – comprising six luxury duplexes and one luxury triplex at Siam Paragon and six luxury duplexes at IconSiam,” concluded Lenbury.
Thailand’s luxury market continues to demonstrate steady growth potential, drawing increasing interest from leading brands looking to invest in the market. In particular, the fine jewellery and timepiece market segments continue to show growth potential, enhancing Siam Piwat’s competitive strength as a global developer of luxury destinations, catering to the highest-spending clientele in Thailand.
Thanaporn Tantiyanon, head of the business unit Siam Paragon, says the luxury market is significantly transforming as it moves forward. “New trends will be driven by younger consumers and Gen Z, who place a deeper emphasis on the value of products. They favour rare, high-quality items that are practical, unique, and tailored specifically to their needs.
“These consumers seek products that may not necessarily come from major brands but must be the ‘Best in Class’ and worthwhile in terms of investment.”
Siam Piwat is committed to creating a new paradigm of luxury destinations that are cutting-edge and meet customer demands through comprehensive strategies as follows:
- Curation and co-creation: Carefully selecting a diverse range of leading brands to cater to every customer need.
Siam Piwat collaborates with global brands and partners through co-creation to build an ecosystem that delivers experiences beyond expectations. Siam Paragon and IconSiam remain central hubs, offering the most comprehensive selection of luxury stores and brands in Thailand, including fashion, fine jewellery, timepieces, and high-end automobiles.
Major new store openings include:
- Delvaux: The first boutique in Thailand at Siam Paragon was launched on January 22, marking the brand’s commitment to expanding its presence in Asia.
- Boucheron: The French high jewellery brand plans to open its first boutique in Thailand at Siam Paragon.
- Rolls-Royce: A new ‘Galleria’ showroom at Siam Paragon, the first in Asia-Pacific and fifth in Asia.
- Chaumet: The first and only boutique in Thailand at IconSiam.
- Loewe: Thailand’s first Loewe Casa concept store at Siam Paragon.
- Prada: The first men’s boutique in Thailand at Siam Paragon.
- Dolce & Gabbana: A new concept store in Southeast Asia at Siam Paragon, including a full range of Dolce Casa.
- Bvlgari: The first duplex store in Thailand at Siam Paragon.
- Luxury for all: Making luxury accessible to everyone, offering more accessible products while maintaining luxury, uniqueness, and a stronger alignment with individual preferences.
Siam Piwat provides opportunities for the new generation to experience luxury brands through pop-up stores that blend innovation with distinctive character, reflecting individuality. Last year, many brands popular among younger consumers created more than 20 pop-ups which offered unparalleled first time and exclusive experiences both at Siam Paragon and IconSiam, including – but not limited to – the Chanel Coco Crush Exhibition; the Gucci Ancora Pop-Up: debuting the first collection by creative director Sabato de Sarno; the Gentle Monster X Jennie Pop-Up; the A Lange & Sohne Precious in Motion Exhibition; and the Chanel L’ Avant-Premiere Pop-Up.
- Extraordinary experiences: Crafting comprehensive luxury experiences with meaningful value
Siam Piwat continues to enhance the shopping experience at Siam Paragon and IconSiam by elevating it into a comprehensive luxury journey, encompassing luxury dining, art exhibitions, and premium services. Both venues have hosted special exhibitions and exclusive events by integrating advanced technology and innovation to create cutting-edge, memorable visitor experiences.
Siam Piwat is also honoured to manage Le Cafe Louis Vuitton, a new luxury cafe in the heart of Bangkok which opened early last year. This trust from a global brand underscores Siam Piwat’s leadership in creating holistic experiences.
- New affluent community: Building a base of high-spending young consumers
As a leader catering to Thailand’s most affluent customers, Siam Piwat is elevating its success by enhancing its luxury CRM program with innovative approaches aimed at expanding its global citizen customer base. A key milestone is the launch of Jai by OneSiam, a world-class luxury lifestyle club designed to create a borderless community and offer exclusive experiences. This initiative represents a significant step in elevating luxury customer relationship management, redefining the standard for excellence in the industry.
- Sustainable luxury: Promoting brands focused on sustainability
Siam Piwat supports brands that emphasise 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 who are aware of the importance of caring for society and the planet. Furthermore, Siam Piwat has implemented key strategies to support its sustainable partners by developing sustainable business practices for tenants, effective waste management to increase recycling and reduce landfill usage, and the adoption of renewable energy solutions, both on-site and off-site, to achieve net-zero goals together.
Siam Piwat has reinforced its leading position as the number one global destination developer with more than 25 luxury-related awards from leading institutions. IconSiam won Asia’s Most Innovative Shopping Experience Award in the Cathay Members’ Choice Awards 2024. It was selected by CNBC as one of the top luxury destinations in Thailand and was ranked the best luxury shopping destination in Asia, as well as fourth globally, by The World’s Most Luxurious Shopping Malls of 2024, according to Luxurious by Marketing Mentor. IconSiam received the Best Luxury Shopping Mall in Thailand award from Luxury Lifestyle Awards 2024 and the Iconic Thai Brand award from Tatler Asia.
Siam Piwat is dedicated to being a leader in pioneering luxury experiences that not only meet current demands but also drive the luxury industry towards new standards for the future.
