Siam Piwat Simon plans second Premium Outlets in tourist hotspot

Photo Courtesy of Bangkok Post

Shopping mall operator Siam Piwat Simon Co is exploring options for the best location to open a second branch of Siam Premium Outlets Bangkok, focusing on provinces with a large local population and high foreign tourist numbers.

Michael Tang, the company’s managing director, highlighted the importance of excellent transport infrastructure and convenient access for travellers when selecting the location for the second branch. Siam Piwat Simon Co is a partnership between Siam Piwat Group and US-based Simon Property Group, which specialises in mall investments.

Tang commented, “We are interested in opening a new Siam Premium Outlets Bangkok because Thailand still holds potential for more high-quality shopping outlets.” He pointed out that despite smaller local populations and fewer foreign tourists compared to Thailand, South Korea has successfully established five high-quality shopping outlets, Bangkok Post reported.

Several luxury fashion brands, such as Versace and Longchamp, opened their outlets at Siam Premium Outlets Bangkok during the fourth quarter of the previous year, following the pandemic recovery. Furthermore, brands like Puma and Anta, Chinese sportswear companies, plan to open stores at Siam Premium Outlets in the coming seven months.

Lacoste is undergoing an expansion of its store area from 180 to 300 square metres. A new concept called Nike Unite-SPO was also introduced by Nike with a soft opening at Siam Premium Outlets, featuring an extended product range for children and women.

Tang explained, “Outlets are a new concept for Thais. We will focus on building brand awareness and educating the local population about the everyday savings of 30 to 70% available at Siam Premium Outlets.”

Siam Premium Outlets joined forces with the Simon Property Group to participate in the first-ever “National Outlet Shopping Day” outside the US. The event offers exclusive experiences, special privileges, and promotions, similar to those available in the US, Canada, Mexico, and Malaysia. Customers visiting the outlets can enjoy gift cards and other benefits from participating stores.

In an effort to boost local spending, the company is preparing to launch more aggressive marketing events. Currently, they have attracted 230,000 tourists and 2 million Thai visitors in 2022, with expectations to draw approximately 2.2 million local visitors and 300,000 foreign tourists this year. Tang predicts the outlet will reach a total visitor count of 3 million locals and foreign guests by 2025.

Bangkok NewsBusiness News

Alex Morgan

Alex is a 42-year-old former corporate executive and business consultant with a degree in business administration. Boasting over 15 years of experience working in various industries, including technology, finance, and marketing, Alex has acquired in-depth knowledge about business strategies, management principles, and market trends. In recent years, Alex has transitioned into writing business articles and providing expert commentary on business-related issues. Fluent in English and proficient in data analysis, Alex strives to deliver well-researched and insightful content to readers, combining practical experience with a keen analytical eye to offer valuable perspectives on the ever-evolving business landscape.

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