Siam Piwat forces ahead with a pioneering prototype for world-class luxury destinations

Siam Piwat, a leading real estate and retail developer and the owner and operator of global destinations Siam Paragon and ICONSIAM, is pioneering a new prototype for world-class luxury destinations. The new model reinforces Siam Piwat’s position as the preferred destination for leading luxury brands seeking to expand into the Thai market and leverage the capabilities of its platform, which has proven track records of helping brands achieve the highest sales in the region and frequently ranking among the world’s top performers.

In 2025, both Siam Paragon and ICONSIAM will more than double their space devoted to luxury brands. With this expansion, both malls will welcome an unprecedented number of new and exclusive luxury brands and the largest number of luxury duplex flagships in the country. Additionally, in the second half of 2025, Siam Paragon will unveil a new luxury dining zone, the first of its kind in Thailand, featuring new restaurant brands making their debut in Thailand, along with Michelin-starred chefs who will bring exclusive new concepts for Siam Paragon’s discerning diners.

Tipanat Lenbury, Senior Executive Vice President, Chief of Sales and Business Relations at Siam Piwat Co., Ltd., stated, “Siam Piwat Group has a strong foothold in the luxury market, having the largest market share of 70% in Thailand’s luxury retail market and the highest revenue per square meter. Our platform has enabled various brands to achieve the highest sales in the region and occasionally in the world. As a result, we now host the largest number of luxury stores for 90 brands, and have the largest luxury retail space of 35,000 square meters, with the country’s highest investment in iconic stores as well as the most number of luxury pop-up stores and global exhibitions of 132. Beyond curating one of the world’s most comprehensive luxury lifestyle offerings, Siam Piwat Group has consistently been trusted by leading brands as their venue of choice for launching flagship stores and concept stores. As a result of the strength of our partnerships, 15 new and exclusive luxury brands will debut with us in 2025 including Belgian luxury leather goods house Delvaux, Boucheron and Faure Le Page, all the three opening at Siam Paragon. We will also welcome the largest number of duplex and triplex luxury flagships in the country – a total of 13 - consisting of 6 luxury duplexes and one luxury triplex at Siam Paragon and 6 luxury duplexes at ICONSIAM.”

The “luxury market” in Thailand continues to demonstrate steady growth potential and has garnered increasing interest from leading brands looking to invest. In addition, the success of Siam Paragon and ICONSIAM, particularly in the fine jewelry and timepiece segments which continue to show growth potential, has enhanced Siam Piwat's competitive strength as a global developer of luxury destinations, catering to the highest-spending clientele in Thailand.

Thanaporn Tantiyanon, Head of Business Unit, Siam Paragon, stated, “The luxury market is moving forward to a significant transformation. New trends will be driven by younger consumers and Gen Z, who place a deeper emphasis on the value of products. They favor rare, high-quality items that are practical, unique, and tailored specifically to their needs. These consumers seek products that may not necessarily come from major brands but must be the ‘Best in Class’ and worthwhile in terms of investment.”

Siam Piwat is committed to creating a new paradigm of luxury destinations that are cutting-edge and meet customer demands through comprehensive strategies as follows:

1. Curation & Co-creation: Carefully selecting a diverse range of leading brands to cater to every customer need

Siam Piwat collaborates with global brands and partners through co-creation to build an ecosystem that delivers experiences beyond expectations. Siam Paragon and ICONSIAM remain central hubs, offering the most comprehensive selection of luxury stores and brands in Thailand, including fashion, fine jewelry, timepieces, and high-end automobiles.

Highlights of new store openings:

- Delvaux: The first boutique in Thailand at Siam Paragon was launched on January 22, 2025, marking the brand’s commitment to expanding its presence in Asia.

- Boucheron: The French high jewelry brand plans to open its first boutique in Thailand at Siam Paragon

- Rolls-Royce: A new 'Galleria' showroom at Siam Paragon, the first in Asia-Pacific and fifth in Asia.

- Chaumet: The first and only boutique in Thailand at ICONSIAM.

- Loewe: Thailand’s first Loewe Casa concept store at Siam Paragon.

- Prada: First men’s boutique in Thailand at Siam Paragon.

- Dolce & Gabbana: A new concept store in Southeast Asia at Siam Paragon including a full range of Dolce Casa

- BVLGARI: The first duplex store in Thailand at Siam Paragon.

2. Luxury for All : Making luxury accessible to everyone, offering products that are more approachable while maintaining luxury, uniqueness, and a stronger alignment with individual preferences

Siam Piwat provides opportunities for the new generation to experience luxury brands through pop-up stores that blend innovation with distinctive character, reflecting individuality. In 2024 numerous brands popular among younger consumers created over 20 pop-ups which offered unparalleled first time and exclusive experiences both at Siam Paragon and ICONSIAM, including but not limited to the Chanel Coco Crush Exhibition , the Gucci Ancora Pop-Up: debuting the first collection by Creative Director Sabato de Sarno, the Gentle Monster X Jennie Pop-Up , the A. Lange & Söhne Precious in Motion Exhibition and the Chanel L’ Avant-Premiere Pop-Up.

3. Extraordinary Experiences: Crafting comprehensive luxury experiences with meaningful value

Siam Piwat continues to enhance Siam Paragon and ICONSIAM’s shopping experience by elevating it into a comprehensive luxury journey, encompassing luxury dining, art exhibitions, and premium services. It has also hosted special exhibitions and exclusive events by integrating advanced technology and innovation to elevate the visitor experience, making it truly cutting-edge and memorable.

Siam Piwat is also honored to manage Le Café Louis Vuitton, a new luxury café in the heart of Bangkok which opened early 2024. This trust from a global brand underscores Siam Piwat's leadership in creating holistic experiences.

4. New Affluent Community: Building a Base of High-Spending Young Consumers

As a leader catering to Thailand’s most affluent customers, Siam Piwat is elevating its success through the enhancement of its luxury CRM program with innovative approaches aiming to expand its global citizen customer base. A key milestone is the launch of JAI by ONESIAM, a world-class luxury lifestyle club designed to create a borderless community and offer exclusive experiences. This initiative represents a significant step in elevating luxury customer relationship management, redefining the standard for excellence in the industry.

5. Sustainable Luxury: Promoting Brands Focused on Sustainability

Siam Piwat supports brands that emphasize sustainability across all dimensions, from material selection to production processes, packaging, stakeholder management, and creating positive impacts. The company is also committed to fostering an environmentally conscious and socially responsible lifestyle, catering to a new generation of consumers who are aware of the importance of caring for society and the planet. Furthermore, Siam Piwat has implemented key strategies to support its sustainable partners by developing sustainable business practices for tenants, effective waste management to increase recycling and reduce landfill usage, and the adoption of renewable energy solutions, both on-site and off-site, to achieve Net Zero goals together.

Siam Piwat has reinforced its leading position as the number one global destination developer with more than 25 luxury-related awards from leading institutions. In 2024, ICONSIAM won the Asia’s Most Innovative Shopping Experience award from the Cathay Members’ Choice Awards 2024. It was also selected by CNBC as one of the top luxury destinations in Thailand and ranked as the best luxury shopping destination in Asia, as well as fourth globally by The World’s Most Luxurious Shopping Malls of 2024, according to Luxurious by Marketing Mentor. ICONSIAM also received the Best Luxury Shopping Mall in Thailand award from Luxury Lifestyle Awards 2024 and the Iconic Thai Brand award from Tatler Asia.

Siam Piwat is dedicated to being a leader in pioneering luxury experience that not only meets current demands, but also drives the luxury industry towards new standards for the future.