Bangkok’s Siam Center has been chosen as one of world’s five best-designed retail centres by the International Council of Shopping Centers.
Siam Center, owned and developed by Siam Piwat Co, is one of five malls from around the world presented with the 2015 ICSC Viva Award in the ‘design and development’ category and is recognised 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 1.8 billion (US$50.5 million) by Siam Piwat and 300 brand owners in the biggest collaborative initiative in retail development ever undertaken in Thailand.
Siam Piwat CEO Chadatip Chutrakul said the company felt 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,” she said.
“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.”
Chadatip said 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’,” she said.
Chadatip, after its redevelopment Siam Center has measured a significant increases in visitors, in the number of visitors actually shopping, and in the average spend by each shopper.
“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 per cent.
“Beyond that, the average spending by shoppers has more than doubled and is now at almost Bht 3,000 ($84) per shopper, per visit. This reflects the success of the collaboration between retailers, brand owners and Siam Piwat to excite and inspire visitors,” she said.
“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.”