Rapid growth in demand for luxury items during the pandemic has led Siam Piwat to enlarge the sales space allocated to luxury goods at Siam Paragon, doubling it in size. According to Mayuree Chaipromprasith, the president of corporate affairs and communications at Siam Piwat, the pandemic restrictions fuelled a significant increase in the appetite for the luxury market.
The average revenue generated from international luxury brands present at Siam Paragon rose by 50% year on year in 2022, surpassing the pre-pandemic levels of 2019 by more than 200%. Mayuree said…
“Thailand’s status as a tourist destination offers incredible potential in the luxury market. Luxury brands prioritise Thailand as a key target in Asia for opening special concept stores or unveiling their latest collections.”
Figures from the Tourism Authority of Thailand revealed…
