Siam Piwat forges ahead with retail business expansion through giant online platforms overseas to foster growth for Thai brands on the global stage
Siam Piwat Co., Ltd., a leading real estate and retailer developer, the owner and operator of world-renowned projects, namely Siam Paragon, Siam Center, and Siam Discovery, and a joint owner of ICONSIAM and Siam Premium Outlets Bangkok, is forging ahead with the retail business expansion in overseas markets through various online channels and platforms as follows:
1. Siam Piwat has ventured into the Chinese e-commerce market by having ICONCRAFT products featured for sale on Weibo, China’s largest social media platform, and Taobao, the largest e-commerce platform in the Asia-Pacific region, and promoting the products livestreaming for the first time ever.
2. Siam Piwat has made a foray into cross-border e-commerce by introducing products from three brands: ICONCRAFT, Ecotopia, and JUNGSAEMMOOL, through Shopee International Platform and LAZgoGlobal to expand the customer base in Malaysia, Singapore, the Philippines, and Indonesia.
Ms. Usara Yongpiyakul, Chief Executive Officer - Retail Business Group, Siam Piwat Co., Ltd. “Our target this year is to grow our sales by 30% and we aim to introduce more Thai brands to the global market, especially through online platforms with high potential and growth in order to penetrate the affluent customer base overseas. Following the successful expansion towards Malaysia, Taiwan, and Japan through various collaborations in the previous year, we are seeking to enter into a large market like China this year. To achieve this, our strategies include launching a debut with popular products that encapsulate the essence of Thainess from ICONCRAFT and creating novel shopping experiences by having key opinion leaders (KOLs) promoting the products via livestreaming on Weibo and Taobao to better reach the target group. The first livestream, which was conducted late 2022, was met with spectacular reception, garnering over 270,000 viewers during the livestream and achieving the sales target in only one hour.”
Products that have been very well received are foods and Thai herb-based skincare products. Thai artists who are well-known in China have also been invited to promote products in ICONCRAFT at Siam Discovery. Going forward, Siam Piwat will be hosting the second livestream in May, with a series of livestreams scheduled for the remainder of the year.
Siam Piwat’s strategy for expanding its market in Asia is to feature products from three brands: ICONCRAFT, Ecotopia, and JUNGSAEMMOOL, on Shopee and Lazada – popular e-commerce platforms. The three brands have also accepted the invitation to launch official stores on both Shopee International Platform and LAZgoGlobal. Customers in Malaysia, Singapore, the Philippines, and Indonesia can search for and order these products on their country’s Shopee, which will then be shipped to the destination through cross-border transportation.
Siam Piwat has been working actively to launch Thai products onto the global stage to foster sustainability for all parties as well as to enhance opportunities for growth by increasing its online and offline sales channels towards various high-potential platforms to expand towards a wider range of target groups in overseas markets.
As a space of inspiration and a hub of craftworks by artisans nationwide, ICONCRAFT serves as a gateway for over 800 Thai business owners to enter modern trade and increase their chance of expanding their sales and business globally. ICONCRAFT offers a diverse array of products, from jewelry, souvenirs, home ornaments, design, artworks, Thai lifestyle products, everyday items, and fragrances all the way to food and snacks. Those interested can browse the products at ICONCRAFT on the 4th-5th Floors of ICONSIAM and on the 3rd Floor of Siam Discovery.
