Bolstered by growing demand for luxury items during the pandemic, Siam Piwat has doubled the sales space for luxury goods at Siam Paragon.
Mayuree Chaipromprasith, president of corporate affairs and communications at Siam Piwat, said the pandemic shutdown led to higher demand for luxury goods.
As a result, the average revenue from international luxury brands available at Siam Paragon in 2022 increased by 50% year-on-year and exceeded the pre-crisis level in 2019 by more than 200%, she said.
“2022 was a good year for the luxury goods business in Thailand. The country’s status as a tourist destination gives it immense potential in the luxury market,” said Mrs Mayuree.
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