Siam Piwat introduces revolutionary retail concept to Thailand with opening of new ‘Siam Discovery’ on 28th May as the ‘Biggest Arena for Lifestyle Experiments’
Siam Piwat Co., Ltd., the owner and operator of prestige retail developments such as Siam Paragon, Siam Center, Siam Discovery, and Paradise Park, as well as the joint venture partner of ICONSIAM, today, announced that Siam Discovery is opening its doors as Thailand’s ‘biggest arena of lifestyle experiments’ on May 28th 2016 after a US$112 million re-build.
The new Siam Discovery, spread across 40,000 square metres of space, is Thailand’s largest lifestyle specialty store, placing special emphasis on allowing visitors to experiment by trying out new products and new ideas and giving them opportunities to to discover and re-discover themselves.
Mrs. Chadatip Chutrakul, Chief Executive Officer of Siam Piwat Co., Ltd. said: “Its innovativeness will reinforce Siam Piwat’s reputation as a thought-leader in Thailand’s retail sector capable of creating unprecedented destinations that compete with the best of the world as well as support Bangkok’s appeal as the retail hub of the ASEAN Economic Community (AEC) and a favourite shopping destination for the world.”
More than US$8.5 million is being spent on the grand opening event and opening promotions.
Mrs. Chutrakul added, “We have created a venue where thousands of lifestyle brands are brought together under a single universal concept that puts customers at the centre. That means everything presented at Siam Discovery is not organized by brand, or category, as in traditional retailing, but by visitors’ interests, because our purpose is no longer just to sell products but to provide an extraordinary and emotional experience that allows visitors to discover and express themselves.
“We then enhance that experience by adding a very strong story-telling component. As visitors move through the various parts of Siam Discovery, they are immersed in the intangibles of a brand and a category. They are also drawn into stories relevant to their interests, their beliefs, as well as trends, rather than just being presented a selection of products.
“These experiences are highly interactive and with lots of opportunities for visitors to personalize their purchases. We also empower visitors to make statements about their life preferences, whether it be about sustainability or a love of nature, and to support those preferences through their purchases, and through occasions to interact with like-minded people and communities. And then we further enhance those experiences through the power of the most advanced digital technology. It’s a totally new and an extraordinarily exciting way of presenting products and their associated lifestyles,” she said.
“Our role as a retailer has advanced to another level and become one of managing visitors’ experiences and emotions, rather than just one of managing products, categories and displays,” she said.
“We target all genders and age groups, and estimate doubling Siam Discovery’s per-square-metre sales within a year,” Mrs. Chutrakul said.
She added that over 5,000 international and local brands are offered.
Mr. Oki Sato, the founder of ‘nendo’ and one of the world’s top designers who was voted as among the ‘100 Most Respected Japanese’ by Newsweek Magazine, provided the overall design inspiration for the new Siam Discovery. It is nendo’s largest project, ever, and his first in Thailand.
Mrs. Chutrakul said, “Siam Piwat looks at the future from a global perspective rather than just the potential of the Thai market. In line with our growth strategy, we are creating destinations that can compete with the best of the world and which support Thailand in becoming a retail and entertainment paradise.”
She expects the new Siam Discovery to attract, in the first year, 100,000 visitors a day, with around 35% being international visitors.
Products are presented are in five different categories including Everyday Products, Trend Products, Innovative Products & Services, Sustainable Products, and Collaborations and Absolute Siam Products.
Siam Piwat will also introduce some of the most exciting new approaches to dining. Food and beverage outlets are integrated with retail and activity areas. More than 2,500 square metres are dedicated to food and beverage across the entire building. It will also introduce to Thailand one of the world’s most famous dining brands which will be sensation when launched.
Among the exciting debuts at Siam Discovery is a new Loft store with a design concept that is being utilised for the first time in the world and which is conceived by world-renowned designer Nendo and Loft Japan’s designers. Nike is opening its only concept store in Southeast Asia. Issey Miyake will open its first concept store outside of Japan. It is called the World of Issey Miyake and offers a full line of products including, for the first time in Thailand, Issey Miyake’s products for men. Home decoration brands like Hay, Tom Dixon and Kartell will open their first and only concept stores in Thailand. Artist’s Design Products from world-class artists like Yayoi Kusama and Lisa Larson will have their first and only stores in Thailand. And, Adidas will open its largest concept store in Thailand and with an interactive store concept.