Siam Center in central Bangkok has been selected as one of the world’s five best-designed retail centres by the International Council of Shopping Centers.
Siam Center, owned by Siam Piwat, is one of five global shopping centres to be presented with the 2015 ICSC VIVA Award in the ‘Design and development’ category, and is recognised for its “most outstanding design”.
This latest award follows its Gold Award in the 2014 Asia-Pacific Shopping Center Awards for its innovative new design.
Siam Center underwent a total rejuvenation in 2013 with an investment in excess of THB 1.8 billion, in what has been described as the biggest collaborative initiative in retail development ever undertaken in Thailand.
Chadatip Chutrakul, Chief Executive Officer of Siam Piwat, said: “We are 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.
“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.”
She added that Siam Piwat made the major investment 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’,” the CEO said.
Since Siam Center introduced its award-winning design and concept, it has measured significant increases in visitors, in the number of visitors actually shopping and in the average spending by each visitor.
She said: “Since the new concept was introduced, the number of people visiting Siam Center has increased by almost 12,000 people per day compared with the year before. And, of those people visiting Siam Center, the number of people actually shopping has leapt by an incredible 34 percent.
“Beyond that, the average spending by shoppers has more than doubled and is now at almost THB 3,000 per shopper, per visit. This reflects the success of the collaboration between retailers, brand owners and Siam Piwat to excite and inspire visitors,” Mrs. Chadatip said.