Siam Piwat Simon courts global fashion brands
Tang said the negotiations were a partial response to the government’s roadmap to reopen the country in mid-October.
Siam Piwat Simon Co, the operator of Siam Premium Outlets Bangkok in Samut Prakan, is negotiating with international fashion brands to open their stores in its point of sale to attract buyers in the second half of the year.
Michael Tang, the company’s chief executive, said the talks were a partial response to the government’s roadmap to reopen the country by mid-October.
“Although foreign tourist arrivals are likely to increase by 1-2% this year, Thailand is expected to see signs of recovery after the negative impact of the Covid-19 epidemics next year,” he said. he declares.
“Thailand is expected to return to normal in 2023-24, as new international fashion brands will help increase customer traffic to our premium outlet.”
According to Mr. Tang, France’s leading handbag maker Longchamp decided to open a store at its point of sale in August this year.
Ecco, the Danish premium footwear brand, is expected to open its store in the second half of the year.
The company is negotiating with three international fashion brands and hopes to finalize the deals within the next three months.
In the first half of the year, Siam Piwat Simon added luxury fashion, lifestyle and children’s merchandise to his stable. Permanent or pop-up stores are planned for Reebok, Browne & Co, Pierre Cardin, bamboo fabric nightwear Vintel, and nightwear and casual wear brand Josilins.
“Thailand retains the interest of foreign investors. Luxury goods are doing well here, as are retail stores in downtown Bangkok,” he said.
According to Mr. Tang, customer traffic at his point of sale from January to April was good, before experiencing a hiccup in May when traffic dropped 50% due to government restriction measures and daily reports of 3,000. to 4,000 new infections per day.
However, he said the traffic has now reversed by 20-30%.
According to Tang, Siam Premium Outlets Bangkok, which is entering its second year, this year aims to connect online and offline shopping in response not only to the digital age, but also to the new standard of consumer behavior.
The company offers many platforms, from its website, its online shopping service Facebook, Instagram and Chat & Shop to its official Line account.
“Since the pandemic remains a problem all over the world, it is quite difficult,” he said.
“We have learned to adapt, adjust and redefine our business approaches and create new strategies to move the business forward amid the restrictions. Nonetheless, we will be keeping a close eye on the Phuket sandbox in early July before going any further. . “
Some 95% of the point of sale’s customers are Thai, of which 5% are expatriates.
Due to the pandemic, the company will focus its marketing efforts on domestic consumers with high purchasing power.
Siam Piwat Simon hopes to attract 1 million buyers in the second half of this year and 2 million for the full year if there is no new outbreak.
Siam Premium Outlets Bangkok is a joint venture between Siam Piwat Co and the American real estate company Simon Property Group, owner of the popular Woodbury Common Premium Outlets in the United States and Gotemba in Japan.