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  • Bangkok 18th most attractive retail city

    Bangkok 18th most attractive retail city

    Bangkok ranks 18th in terms of international retailer attractiveness, just ahead of Las Vegas, in a new report from real estate consultant JLL. “The Destination Retail 2016” report also revealed that Asia boasts five out of the 10 most appealing destinations for international retailers globally.

    According to JLL’s report, which for the first time provides a global ranking of 140 cities by their appeal to cross-border retailers, Hong Kong is second only to London in popularity. Also among the top 10 are Shanghai, Singapore, Beijing and Tokyo.

    Boosted by rising income levels and growing tourism numbers from across the world, Bangkok has attracted many international brands, such as H&M, Zara Home, Pull & Bear and Victoria’s Secret. Recently, retailers such as Dior Homme, Pierre Herme, A Bathing Ape and Tiffany & Co have started trading in the city. The Ratchaprasong area is Bangkok’s retail centre and attracts many locals as well as tourists, thanks to its central location and adjacent skytrain. It houses 11 shopping centres, including Siam Paragon, CentralWorld and Siam Square One.

    The recently completed EmQuartier, Central Westgate and CentralFestival EastVille, all outside the city centre, are providing new attractive opportunities to international retailers.

    Bangkok’s retail landscape continues to diversify, with renovations at Siam Discovery and several suburban CentralPlaza retail stores, the opening of HaHa Market and the continued success of Asiatique The Riverfront, a combined shopping centre and night bazaar.

    Cities in Asia-Pacific are the most appealing destinations for luxury retailers to set up shop. Seven Asia-Pacific cities are among the global top 10: Hong Kong, Tokyo, Shanghai, Singapore, Beijing, Osaka and Taipei.

    “Hong Kong remains Asia’s leading luxury shopping destination with many retailers using it as a springboard for expansion into China,” said James Assersohn, retail director for Asia-Pacific at JLL. “While there has been a noticeable slowdown in luxury sales due to China’s slowing economy and the government’s anti-corruption crackdown,Hong Kong continues to attract many high-spending Chinese tourists,” he said.

    More broadly, the dominance of Asian cities in the index highlights the attractiveness of the region to retailers, thanks to its burgeoning middle-class and growing levels of affluence, said Mr Assersohn.

    Tokyo, which takes fourth place globally, has seen a revival in luxury retailer’s demand for high quality real estate as a result of an improving economic climate and rising tourism numbers. The yen, which has devalued by nearly 30% since 2012, has made Japan a magnet for retail tourism across the region. International visitors to Japan rose 47% in 2015 with the largest contingent from China. A weaker yen is also encouraging Japanese to make the most of their luxury purchasing power at home.

    Shanghai, meanwhile, at number six in the ranking, is catching up fast on Hong Kong to become one of Asia’s leading luxury retail destinations and remains China’s premier shopping destination.

    “Thanks to a diverse economy and wealthy consumer base, Shanghai has become a favourite place for international brands to test the Chinese market and gain brand exposure,” said Mr Assersohn.

    (Original article from BangkokPost)

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  • Princess of Thailand’s Sirivannavari to Debut Pop-up at La Rinascente

    Princess of Thailand’s Sirivannavari to Debut Pop-up at La Rinascente

    Sirivannavari, the women’s label founded by Sirivannavari Nariratana, the Princess of Thailand, is debuting a pop-up shop at Milanese department store La Rinascente.

    A look from Sirivannavari spring/summer 2016 collection

    Opening from May 18 to June 14, this will be located on the store’s fourth floor dedicated to women’s wear.

    The pop-up shop will carry the latest collection of the luxury Thai label, which was founded in 2005. For spring, Nariratana, who studied fashion at Paris’ École de la Chambre Syndicale de la Couture Parisienne, was inspired by the Versailles Castle to design a lineup incorporating a range of art references from the Romantic and Impressionistic periods. The collection is focused on the combination of rich graphics and details with sculptural shapes. It includes a tulip dress; a blazer with rounded shoulders; a gown with a bodice embroidered with 3-D flowers, as well as a bolero jacket showing gooseberry-like embellishments.

    Sirivannavari operates a flagship at Bangkok’s Siam Paragon shopping mall.

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  • Gaysorn Property announces super luxury condominium “TELA Thonglor” in Bangkok

    Gaysorn Property announces super luxury condominium “TELA Thonglor” in Bangkok

    High-end and luxury property developer Gaysorn Property today announces expansion of its luxury property portfolio in Bangkok’s prime locations. TELA Thonglor, a super luxury condominium, is set to be a new landmark of Thonglor. This 4.1-billion-baht project will seamlessly weave city lifestyle with every community, true to its definition as “The Landmark Residence on Thonglor”. Offering five exclusivities in terms of design and facilities, the project highlights the aesthetics of living under “Canvas of Life” concept, where the residents are inspired to craft a unique living and pursue their unique lifestyle. The company expects to sell 75% of TELA Thonglor by the end of this year.

    Mr. Fafuen Temboonkiat, Managing Director of Gaysorn Property Co., Ltd., said: “With previous success from property projects such as luxury condominium Domus Sukhumvit 16 and 18 and high-end low-rise condominium Mode Sukhumvit 61, we have proven our quality, our dedication, and our attention to detail in offering a unique lifestyle under our DNA of Refined Quality Living. This is a key drive of our business alongside our endeavor to develop properties on prime locations that connect lifestyles and communities in a perfect fashion. Most recently, we have launched our new super luxury condominium TELA Thonglor with a project value of 4.1 billion baht. It is located on a high-potential spot in the heart of Thonglor, which is a promising residential area as it is surrounded by shops, restaurants, and facilities for every lifestyle need.”

    TELA Thonglor, located at the front of Soi Thonglor 13, is a 32-floor condominium designed under “Canvas of life” concept to give its residents a freedom to create their lifestyle masterpieces. Only 84 units in four types of suites are offered on its land plot of 1-3-63 rai. The 2-bedroom “Tela Sienna” and “Tela Amber” types, 40 units in total, offer 111 square metres of functional space. The 3-bedroom signature type “Tela Legacy Suite A & B”, 40 units in total, come with either 201 or 202 square metres of space. The 3-Bedroom Duplex “Signature Suite”, only two units available and already taken, offers 230 square meters of space. The 3 Plus 1 Bedroom Duplex “Sky Duplex Suite”, two units on offer, comes with 338 square metres of space. The project’s communication is targeted at families that lead a luxurious life, especially those who prefer urban living and highly prioritise privacy.

    Fafuen added, “There are five elements that make our project unique and outstanding.

    • “Strategic Location” The location offers seamless connectivity between city lifestyle and the community. The residents have access to various lifestyle choices and are conveniently connected to other lifestyle areas, thanks to nearby community malls, restaurants, as well as the quick and convenient bridging to a nearby BTS station.
    • “Ultra-Low Density Living” More space and more privacy are offered here. There are only 84 units in total, four on each floor, so each unit is blessed with a panoramic view. Each suite, with floor-to-ceiling height of 3.20 metres, allows the residents more spacious feel and greater freedom to create an individual style of luxurious living within their unit.
    • “Crafted Space” The space has been well-designed to cater to all lifestyle needs. With a unique, 17-metre “Paronamic Adaptive Bolcony”, the living room and all bedrooms in “Tela Legacy Suite A & B types are interconnected while the double-glazed sliding glass doors of this balcony helps protect heat and can greatly improve ventilation in the rooms.
    • “Secured Private Lift Lobby” The lift at the lobby takes the residents straight to their designated floor as if they have a private lift. It is equipped with a CCTV Monitoring & Control system, which is monitored in the control room round-the-clock for maximum security of the residents.
    • “Iconic Design” The exterior was exquisitely designed and built to exude its timeless appeal. The touch of quality and luxurious details continue into the interior with fixtures including Italian-made kitchen cabinets by BINOVA and electrical appliances by BERTAZZONI. Marble slabs with designer bathroom fittings are designed by globally recognized designers, making TELA a contemporary pride of Gaysorn Property.”

    Mr. Firm Hongsananda, Business Development Manager of Gaysorn Property Co., Ltd., said: “TELA Thonglor offers a unique experience our company is always known for. We present luxury in every aspect, from the well-designed space to every single detail. Only the finest materials and the best designs are used to offer the Refined Quality Lifestyle. Façade design adds dimension to the exterior when in contact with light, and the lighting has been designed to create the right ambiences day and night. Greenery Wall embraces the lower part of the building, blending harmoniously with our lush green landscape. In terms of facilities, we have Lapis Deck, a family-friendly 25-meter salt water pool; Pulse Fitness and Pause Spa which is equipped with the most modern equipment with private area for spa and beauty salon; and 84 Saletta Residential Club, a dedicated area for the residents to host parties or other social functions.

    For outstanding management, Gaysorn Residential Services (GRS) assures the residents of three promises. “Value Services” are focused on addressing the needs of the residents to quickly and effectively resolve their issues and provide helpful assistance to them. “Best Practice Facility Management” is focused on facility management planning and budget control to ensure efficient maintenance of equipment and assets in common ownership, complete with performance evaluation of the services. “Quality Assurance” by the company’s customer service team closely provides consulting to the condominium’s committee and management. The team is experienced in servicing customers and managing property under the company’s DNA of “Refined Quality Living”.

    TELA Thonglor super luxury condominium is currently under construction with scheduled completion by the end of 2019. The average price is 300,000 baht per square meter. The company is confident to close 75% of the project sales by the end of 2016.

    Contact sale office of TELA Thonglor, a super luxury condominium, at 02-612-5959 or visit www.telathonglor.com.

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  • AEON Showcase Their Product Line-Up and Other Financial Services at the 16th Money Expo Bangkok

    AEON Showcase Their Product Line-Up and Other Financial Services at the 16th Money Expo Bangkok

    AEON Thana Sinsap (Thailand) Public Company Limited will join the 16th Money Expo Bangkok from May 12th to 15th 2016 at Challenger Hall 2 – 3 , Impact Arena, Muang Thong Thani. AEON’s booth, B1, is inspired by the concept “Your Future Begins Today” with the beautifully laid out on the 850 square meters spread.

    At the expo, AEON line up their various financial services including the AEON M GEN VISA Card which aims to offer the special entertainment privileges to match with customers’ lifestyle such as free movie ticket every month, exclusive discounts for M GEN Set at THB 120 and M GEN Buddy Combo set at THB 99. Moreover, AEON introduces the AEON Royal Orchid Plus JCB Platinum Card exclusively for Japan lovers which exchange every THB 20 spending to 1 mileage as well as access to our exclusive lounge and discounts to many Japanese restaurants. Exclusively for AEON customer who subscribe to any service with AEON, they will get a chance to win the luxurious 3 days and 2 nights accommodation package from Sri Panwa valued at THB 112,800 as well as iPhone 6s 64 GB valued at THB 30,700 , John Lang Ford bag valued at THB 1,290 and other various premium.

    AEON customer will also enjoy other exclusive deals such as special interest 0% installment on the Honda motorcycle or gold, special tour packages from H.I.S and insurance services. They will also be entertained with a special mini concert from Bie Sukrit, Wier Sukollawat and Kang Vorakorn. For more information, visit www.aeon.co.th.

  • Belgian jewellery firm looks to Thai hub for Asian expansion

    Belgian jewellery firm looks to Thai hub for Asian expansion

    Thailand would be a hub to support and facilitate the growth of Roos’s business in Asia.

    “We’re originally from Holland. My great-great-grandfather founded the company in 1835, or about 181 years ago. I’m the sixth generation of the family. We [currently operate] more than 200 jewellery shops in Belgium and Holland,” said Rien Rozendaal, founder of and designer for Roos & Nijs.

    “We started selling our Roos jewellery ornaments last week in China through Derier’s retail network with 80 stores in major cities, including Shenzhen, Guangzhou, Chengdu and Ningbo. [By] coincidence, we also started last week in Thailand as well with the appointment of Market Access Co Ltd as our master distributor covering Thailand and all [of the] Asia region,” he said. “We’re from the original Dutch company and we didn’t find any necessity to expand further in my home market as well as in Europe as we’re at the high level already. I believe in Asia as a promising region to grow our jewellery business.”

    Rozendaal said starting to do business in China and Thailand arose from coincidences. In China for example, he was introduced by a Chinese friend in New York to the owner of Derier.

    “It is not that I’m looking for distributors. Finding the right people who will be my partners is not easy. We have to share the same way of thinking, the same vision and passion, and common interests,” he said.

    “They [distributors] should understand the European way of distributing the brand. In my way, doing business is not the first thing. My first thing is to get the same vision of how to market the brand.”

    Rozendaal said his business approach was quite different from setting up business targets and growth.

    “I like to design nice and beautiful jewellery. I have my target group in designing, that is my wife, not for the market. I design jewellery for the one I love, and appreciate that many women love this design too,” he said.

    Chanokphol Chaisuparakul, co-founder and director of Market Access, said Roos was not something people saw every day, because of its unique designs and long heritage of 181 years. The brand is also high-end jewellery that people can wear every day.

    “In five years, we think Roos could be a brand for sophisticated people who seek perfection in luxury jewellery. We aim to expand in Southeast Asia starting from Thailand, especially in Bangkok and big cities such as Chiang Mai, Pattaya and Phuket,” he said.

    He added that in the first year, the company would open one flagship store for Roos jewellery as well as one dealership in Bangkok.

    “We will start expanding Roos jewellery to some parts of CLMV next year,” said Chanokphol, referring to Cambodia, Laos, Myanmar and Vietnam.

    He added that the CLMV markets had a lot of potential, with people who are highly into networking, are well educated and have high spending power, and are fashion-oriented.

    Somkiat Chaisuparakul, chief executive officer of Market Access, said Thailand’s gem and jewellery market had high growth potential. The market value in 2015, especially diamonds, was about Bt78 billion, with imports accounting for Bt19 billion and domestic production the remaining Bt59 billion. With the economic situation getting better, entrepreneurs are more confident that the market will rebound.

    “This is a great opportunity for us to join forces with Roos in expanding their market from Europe to Asia,” he said.

    “Using Thailand as a hub to support the liberalisation of the AEC [Asean Economic Community] market, we will market Roos diamond jewellery to customers in Thailand and [elsewhere in] Asia. We aim to become the top jewellery brand in Thailand by 2017 with annual sales of Bt200 million.

    “We will expand Roos diamond jewellery to cover all potential markets in Asia, starting from CLMV, in the future,” he said.

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  • The Queen of Siam: Chadatip Chutrakul Aims To Energize A District In Bangkok

    The Queen of Siam: Chadatip Chutrakul Aims To Energize A District In Bangkok

    A lot of people thought we dreamed the impossible dream,” chuckles Chadatip Chutrakul, recalling initial reaction to her newest–and biggest–project, Icon Siam. The 55-year-old CEO of Siam Piwat is best known as first lady of Siam Paragon, her signature mall. Much more than a Bangkok institution, it’s a global sensation, one of the world’s most posted sites on Instagram, alongside Disneyland and the Eiffel Tower.

    Siam Piwat has evolved over nearly six decades from a hotel and shopping center built by Chadatip’s father into a complex of flashy malls in a central Bangkok district so dominated by this family-run firm it’s also called Siam. As rivals in Thailand’s hypercompetitive retail industry have expanded to the suburbs, around the country, even overseas, Siam Piwat has stayed put, remodeling regularly, staking its fame and bottom line on Paragon and its adjacent shopping plazas, Siam Discovery and Siam Center.

    So Icon is a quantum leap, from the comfort zone of Siam across the Chao Phraya River, to the no-man’s-land of Thonburi. Centuries ago Thonburi predated Bangkok as Thailand’s capital, but development long ago flowed across the river to the Bangkok side, then uptown to Sathorn and Sukhumvit. A run-down area of concrete shop houses, it hardly seems a likely launching pad for an upscale shopping mecca.

    Yet this Bangkok native has grand plans to revive the River of Kings, as Chao Phraya translates into English. At $1.57 billion, Chadatip says Icon is the largest privately funded project in Thai history. Besides 5.5 million square feet of retail space, the site will include two high-rise residential towers, a museum, a half-kilometer-long river walk, extensive art, theater and conference facilities, plus docks for river cruisers and private yachts.

    Bangkok plans several new bridges and subway lines across the river, and Icon will link to them by a new monorail, dubbed the Gold line. Siam Piwat will bankroll the $62 million cost, the first time a company has paid for a subway line and donated it to Bangkok.

    Siam Piwat lacks experience in residential development, so has teamed with high-end property specialist Magnolia Quality Development, securing the blue-chip backing of Charoen Pokphand Group. CP is Thailand’s biggest company, run by Dhanin Chearavanont, who tops the FORBES ASIA Thai rich list. His daughter Tipaporn Chearavanont runs Magnolia. CP and Magnolia each have a 25% stake in Icon, leaving Siam Piwat with 50%.

    While it was still only a dirt lot in 2014, Icon sold all 379 units in one residential tower at prices equal to those of top-tier downtown properties, according to local real estate firms. “The launch of the condos did very well and helped put the project on the map,” notes Simon Landy, Thailand chairman of Colliers International.

    Chadatip says of the scheme: “This is not only about Icon, it’s about the future of the river. It’s about how we elevate the importance of the river in every aspect, meaning the historical places, culture, the art, the festivals–all the values on the river have to be integrated.”

    Since Siam Piwat announced its plan for the 20-acre site in 2014, there have been signs of a Thonburi revival. Nearby, at the Jam Factory, hip architect Duangrit Bunnag has converted old warehouses into chic restaurants, shops and an art gallery. “The river is happening,” he says.

    Still, it’s a high-stakes gamble, even for a risky investor–something Siam Piwat has never been–in an especially precarious time for Thailand. The past decade has been marked by political strife and a series of coups. Pitched street battles in 2010 claimed an estimated 100 lives; Central World, a shopping center near Siam, was razed. When massive street protests crippled Bangkok in 2014, the military mounted another coup, promising a quick return to democracy. Two years on, the junta remains entrenched. The economy trails regional growth, and some say it’s teetering on recession.

    “We’ve gone through lots of cycles,” Chadatip concedes, but she notes that revenue has recovered since the protests and coup of 2014. Even after a devastating bombing in the capital last August, Siam Piwat’s sales for 2015 were up 10% from 2014 and grew 18% from 2013. And Chadatip says there are waiting lists of years for space in malls, a figure confirmed by retailers and local analysts.

    “This is exactly the kind of project Thailand needs now,” says Chadatip, noting that Siam Piwat isn’t a stranger to making tough investments in critical times. She recalls that soon after Siam Discovery was launched, the country plunged into the 1997 Asian Financial Crisis. That was under the watch of her father, Chalermchai Charuvastr, a former military general who served in the 1950s on the staff of Field Marshal Sarit Thanarat, who led a coup and became prime minister in 1957.

    Chalermchai was governor of the Tourism Authority of Thailand and pioneered aviation agreements that helped usher in the era of international travel in Southeast Asia. Tourism remains a major bright light for Thailand, with 29 million visitors last year, providing 10% of gross domestic product, according to official statistics.

    In 1959, when tourists numbered under 100,000 a year and airlines were pushing for proper lodging for crews and passengers, Chalermchai brokered a lease for 29 acres of royal parkland around the Sra Pathum Palace, then founded Bangkok Inter-Continental Hotels, which built Siam Intercontinental Hotel.

    According to Chadatip, the government put up 20% of Bangkok Inter-Continental Hotels, InterContinental Hotels Group added 30%, and the rest came from local banks and about 500 private shareholders. The company was renamed Siam Piwat in 2003 but remains unlisted and doesn’t release earnings numbers. However, one local businessman calls Siam Piwat “a mint. They are printing money there.” How much flows to the family, Chadatip won’t say. “My family has some shares,” she says, “but a very, very small amount.”

    Chadatip says her father had a vision “to build a city of the future, not just one project. What he saw was that he would build the hotel and the first shopping mall and office building, the first high-rise in Thailand–30 stories–in 1965,” all on the same site where Paragon and other Siam Piwat malls now stand. Where once “this was nothing. It was orchards,” Chadatip says, now there are fountains, a towering LED screen and 250,000 visitors a day.

    Chalermchai ran the company until his death in 2009. Although Chadatip is the youngest of three children, he groomed her to take over, and she has spent virtually her entire career as first lady of Siam. Two older brothers, Charnchai and Charlie Charuvastr, have held posts with the company but largely made their marks outside. Charnchai served as CEO of telecom company Samart and prior to that was general manager of IBM Thailand. He was also chairman of Siam Paragon until he died in 2011. Charlie is a corporate relations advisor for Siam Piwat, having previously worked for PTT Exploration & Production, one of Thailand’s biggest energy companies.

    Born in 1961, Chadatip attended prestigious Chulalongkorn University in Bangkok, graduating in 1982 with a B.A. in banking and finance. She spent the next few years with a pair of British insurance firms, Sedgwick Offshore Resources and Willis Faber & Dumas, before coming back to Thailand, managing energy insurance services for domestic firm Dhipaya Insurance.

    She has been with Siam Piwat since 1986, starting in accounting, then sales and promotion. An admitted workaholic, she is often the last to leave the office, arriving home long after dark to more e-mails and work calls. Her husband, Apichart Chutrakul, understands the pace; he is founder and CEO of luxury property developer Sansiri. They have one grown daughter.

    Colleagues describe Chadatip as a human dynamo with boundless energy. “She’s really a superwoman. She works 24/7,” says one of her closest co-workers, who, like others at Siam Piwat, requested anonymity. “We get e-mails from her at all hours,” she says, adding, “She’s intensely involved in everything. Siam is her life, and it’s her passion.”

    Thailand’s other major shopping firms are also run by women. “I think it’s the nature of the business,” Chadatip says, noting that women have a keen eye for detail (Siam Piwat jointly owns Siam Paragon 51%-49% with Thailand’s Mall Group, also run by a woman, Supaluck Umpujh (see profile, p. 58).

    Chadatip doesn’t believe gender plays a big role in Thailand. “In this country we have the freedom to go as high as we want,” she says. “We’ve had a lady prime minister, we’ve had many lady ministers.” In Thai culture women have equality, she says. “There is no ceiling.”

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  • Iconsiam adds retail area for keen investors

    Iconsiam adds retail area for keen investors

    Iconsiam Co has increased its investment by another 4 billion baht for more retail space in response to the long waiting list of foreign investors wanting to expand their businesses at its shopping project.

    Director Chadatip Chutrakul said the company recently secured a 30-year lease for an additional five-rai plot on Charoen Nakhon Road, opposite the current construction site of Iconsiam.

    The total land area for Iconsiam will reach 55 rai with an investment budget rising to 54 billion baht. The total gross floor area will reach 525,000 square metres.

    “More than 100 foreign companies including restaurants, entertainment and fashion firms want to invest in our project. This shows their confidence in the Thai retail market,” she said.

    The company is studying the development of a new retail phase, which will start construction by the end of this year and be completed in 2017, simultaneously with the overall project.

    Construction of Iconsiam is about 20% complete. Iconsiam plans to target Thais for 65-70% of its customers.

    The project will offer a complete range of products and services from more than 500 retailers from around the world. Several of the restaurant brands will be new to the country, including a three-Michelin-star eatery.

    Also planned is a rooftop garden with open-air eateries overlooking the Chao Phraya; an 8,000 sq m area dedicated to food, fashion and handicraft specialities from all corners of Thailand; a multipurpose auditorium for meetings, concerts and shows with 3,000 seats; Thailand’s first world-class museum complex; a 400-million-baht water-fire-sound-and-light feature; and a riverside park and event plaza covering 10,000 sq m.

    It also comprises two luxury waterfront residential condominium buildings of 70 and 50 floors, one of which carries the Mandarin Oriental Residences brand and Iconluxe, providing luxury brands for fashion, jewellery and watch-making over 25,000 sq m.

    The company will open booking for its retail space soon. Iconsiam expects to draw 250,000 visitors a day.

    The Bangkok Metropolitan Administration said Iconsiam has allocated 2 billion baht to support the construction of the first phase of the new skytrain Golden Line, linking Saphan Taksin station to Charoen Nakhon Road near Taksin Hospital.

    Iconsiam is a joint venture between Siam Piwat Co, the owner and operator of Siam Center, Siam Paragon, and Siam Discovery; Magnolia Quality Development Corporation, the owner and developer of luxury quality residential and mixed-use projects; and multi-national conglomerate Charoen Pokphand Group.

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  • Thai developers raise Bangkok’s Icon Siam investment to $1.6 bln

    Thai developers raise Bangkok’s Icon Siam investment to $1.6 bln

    Thailand’s Charoen Pokphand Group (CP) and two property firms have raised their investment
    in Bangkok’s Icon Siam development to 54 billion baht ($1.6 billion) to expand its shopping malls, an executive said on last Tuesday during an official press.

    Despite Thailand’s slowing economy and weak consumption, there had been strong demand for luxury condominiums and retail shops, Chadatip Chutrakul, the riverside project’s director,said.

    “We will increase investment by 4 billion baht to expand space,” Chadatip told reporters, adding that the company was targeting demand from domestic travellers and foreign tourists.

    CP, controlled by billionaire Dhanin Chearavanont, formed a joint venture with Siam Piwat Co, operator of luxury shopping mall Siam Paragon, and Magnolia Quality Development Corp to develop the luxury mixed-use project.

    Half of the budget will come from loans and the group has received financial support from Thai banks such as Kasikornbank, Thanachart Bank and Bank of Ayudhya, she said.

    The project, located on the bank of the Chao Phraya River in Bangkok, is expected to open in 2017. It will have two high-end retail complexes, two luxury waterfront condominium blocks and a museum and entertainment centre. Japan’s Takashiyama will open its first store in Thailand in the new centre, she said.

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  • Iconsiam unveils the era’s most glamorous retail and entertainment complexes

    Iconsiam unveils the era’s most glamorous retail and entertainment complexes

    Mrs. Chadatip Chutrakul, a director of ICONSIAM, the owner of ICONSIAM – the iconic landmark of Thailand’s prosperity by the Chao Phraya River, today, held an event to present a detailed look at a city of the future and unveiled the era’s most glamorous retail and entertainment mega-complexes covering 525,000 square metres, and which is set to become one of the most exciting destinations in the world when completed in late 2017.

    The event was conducted at an evening of spectacular presentations attended by more than 1,500 guests and ending with a cruise on the majestic Chao Phraya River. Retail News was at the official press conference in the Shangri La Hotel in Bangkok and was reporting “live” on our social media channels.

    With a total gross floor area (GFA) of 750,000 square metres, ICONSIAM will be a new symbol of national pride for Thailand and its people.  The project includes:

    • 2 of the world’s most glamorous retail complexes, namely ICONSIAM (Main Retail & Entertainment) on a vast area of 500,000 square metres and ICONLUXE (Luxury Wing) which covers 25,000 square meters. The two mega-complexes have separate parking spaces and facilities but share visitor traffic throughout.
    • 2 world-class residential condominium buildings: Magnolias Waterfront Residences at ICONSIAM and The Residences at Mandarin Oriental Bangkok.
    • 7 precedent-setting attractions which will be the first of their kind in Thailand and which are called the Seven Wonders at ICONSIAM.

    ICONSIAM – The Icon of Eternal Prosperity – is being developed by a highly reputable partnership between three of Thailand’s most successful businesses, assuring the project the national landmark status that it seeks.  The development partners are Siam Piwat – the owner and operator of globally reputed prestigious retail developments including Siam Paragon, Siam Center, and Siam Discovery – MQDC Magnolia Quality Development Corporation, the owner and developer of luxury quality residences – and, the multi-national Charoen Pokphand Group.  The partnership with Bht 50,000 million was announced in 2012 as an agreement to create a the largest commercial development. It’s been 3 years together by far.

    A commitment to build Thailand’s stature on the world stage

    Mrs. Chadatip Chutrakul said, “ICONSIAM will open a new chapter in the history of Thailand.  It represents a great property endeavor that is the most complete and spectacular ever undertaken in Thailand.  ICONSIAM will be the most compelling, must-see destination drawing Thai people from around the country and international visitors from the around the world.  We are creating a new benchmark of excellence in every aspect.  It is the creation of a new paradigm for the property development sector.  It combines everything one needs to live a way of life of the future – the best in residential offerings, a complete range of products and services as well as innovations to keep one comfortable, and unprecedented advanced communications.  ICONSIAM will be at the centre of a plan to unveil the glory of the Chao Phraya River as a global destination.”

    ICONSIAM aims to turn the area along the 10-kilometre frontage of the Chao Phraya River into a major global destination offering unparalleled experiences because the entire stretch of the great river represents all aspects of what is special about Thailand and Thais.  Located along the river are over 20 historic archeological sites, 50 upscale hotels with more than 10,000 rooms, over 200 luxury residential developments that are already available on the Thonburi side of the river and many more to be built on both sides by the public and private sectors.  ICONSIAM will help bring them together to glorify Bangkok under a national collaboration outlined in the Chao Phraya River Master Vision plan which was announced in 2014.  Under the plan, agencies in the public and private sectors, riverside business operators and boat operators will work together to turn the world’s attention back on to the river as Bangkok’s most promising centre.  It will reinforce every aesthetic aspect of Bangkok as one of the world’s most attractive cities where people around the world want to live and where investors want to do business.

    Mrs. Chadatip said, “New developments normally highlight concepts inspired from other countries.  But ICONSIAM is committed to presenting Thailand’s outstanding aspects such as Thai wisdom, exquisite craftsmanship, unique architectural elements, history, tradition, culture, etc.  We are presenting a forward-looking Thainess for the world to see. ICONSIAM will present more than a million stories of success and pride of Thai people from local to national level. It will also represent an imagination of this era that showcases those stories in many ways in a forward-looking Thainess or “Creative Thai” for the world to see.  It will be the first time that such a large project in Thailand will present Thai characteristics in all aspects.

    ICONSIAM is intended to be a new symbol of Thailand.  It will represent the nation to rival mega developments in other countries as it showcases important values of Thailand’s best characteristics in a world-class project through supportive assistance of the whole Thai people in terms of bringing Thailand’s best values to ICONSIAM, creating important values for the project. Meanwhile, ICONSIAM will also bring together the best of the world, making it truly a world-class project.

    12 Unrivalled components of ICONSIAM

    ICONSIAM unveiled the glamour of two retail and entertainment complexes which cover a combined area of 525,000 square metres and comprise the following unrivalled components:

    1. The Best in Stunning Architecture

    The two retail complexes of ICONSIAM – ICONSIAM and ICONLUXE – are closely associated with cultural values and beliefs tied to the Chao Phraya River, including inspirations from ‘krathong’ and ‘baisri’.  The ICONSIAM building is a highly modern building with its architectural design inspired by the way a krathong is folded, translating traditional Thai design signatures to modern interpretations.  The ICONLUXE complex resembles three glass krathongs with the façade stretching 300 metres along the river. A special glass is used to create vertical pleats all over the complex setting a new precedent.  The design is inspired by a traditional Thai dress with a pleated shawl that wraps the most valuable part of the project because ICONLUXE represents the ultimate in ICONSIAM’s elegance.

    1. The Best in the ICONS within an ICON Design Concept

    ‘ICONS within an ICON’ is the construction of many small buildings within a large building.  ICONSIAM showcases a group of buildings each with a 360-degree façade like a mansion that elegantly offers the best Thai brands and luxury brands from around the world.  It is the first time such a concept is brought to life.

    1. The Best in Awesome Spectacles

    River Park is an area for riverside activities.  Covering over 10,000 square metres, it will help visitors to access and enjoy the landscape along the river as never before.  The space is ideal for large-scale national events and world-class performances in a most beautiful and enchanting site on the banks of the Chao Phraya River.

    A multi-media water-and-fire feature, worth Bht 400 million, will present a great spectacle along the 400-metre stretch of the Chao Phraya River, the longest in Southeast Asia, for visitors to enjoy an awesome experience.

    1. The Best in Creative Thai-ness at Venice of the East

    ICONSIAM will bring together the best in Thai brands in all categories from fashion to handicrafts to must-buy items from all of the 77 provinces of Thailand.  Visitors can explore the whole of Thailand at ICONSIAM.  They will be able to enjoy an exciting experience at the first indoor floating market as well as impressive and enjoyable services found only in Thailand along with rare art and cultural performances within an over 8,000-square-metre area.

    1. The Best in World-Class Luxury at ICONLUXE

    ICONLUXE – the icon of exquisiteness, the centre of world-class luxury – will have the best in world-class brands in all categories, including fashion, jewelry and timepieces.  Each brand will be housed in a globally iconic store in a way that has never been done before in Thailand.

    1. The Best in Priceless Art, Culture and Heritage

    ICONSIAM Heritage Museum which covers over 8,000 square metres is Thailand’s first world-class museum complex bringing together the historical and cultural heritage of the country in one place.  It is the result of a collaboration between ICONSIAM, The Fine Arts Department – Ministry of Culture, and The Treasury Department – Ministry of Finance.  The museum will showcase valuable artifacts of Thailand from different eras together with touring exhibitions of masterpieces from around the world, including contemporary artworks from Thai artists.  It has integrated the most advanced exhibition technology, world-class security and conservation standards for important artifacts.

    Thai Character through Masterpieces from National and World Artists

    ICONSIAM’s interior decoration is the result of a collaboration with many national and world artists who channel Thai beliefs and traditions into their masterpieces that are placed throughout in the form of statues, paintings, carvings, and chandelier inspired by the shape of woven garlands.   The complex will be spectacular.  ICONSIAM will be the first to bring together a large number of priceless artworks and masterpieces.

    1. The Best in World-Class Entertainment

    The world-class auditorium is an essential component of ICONSIAM.  The 3,000-seat venue will be Thailand’s first such facility at world-class standards, and which will also be Asia’s technologically most advanced, as well as the centre for international conferences, which will help Bangkok attract the world’s most sought-after A-list singers and performers.

    The 10,000-square-metre cineplex at ICONSIAM will be a ‘first’ and the country’s technologically most innovative of its kind with the latest projection and sound equipment as well as the newest concepts in layout and seating that will ensure visitors the ultimate movie-going experience.

    The world of entertainment for family and children which covers 4,000 square metres will be the first time in Thailand where children can experience state-of-the-art excitement.

    1. The Best in a Complete Range of Products and Services

    ICONSIAM brings together 500 retailers who offer the best in ASEAN and the best from every corner of the world into the same venue.  For more than 20% of these retailers, ICONSIAM will be their first ever presence in Thailand.

    The project will also have Thailand’s first massive sport complex built on a rooftop garden.  It will come complete with an Olympic-sized outdoor swimming pool and a running track with a view of the sky over both sides of Bangkok.

    1. The Best in Department Store

    Takashimaya, one of Japan’s most iconic department stores, covering 35,000 square metres, will open its first store in Thailand at ICONSIAM.  As one of the world’s best department stores, it offers a full line of luxury brands from Japan, as well as top Thailand’s brands including cosmetics, ladies’ wear, ladies’ accessories, men’s wear and accessories, lifestyle products, as well as premium food and beverage offerings.

    1. The Best in Dining Aesthetics

    ICONSIAM will bring a 3-Michelin star restaurant for the first time to Thailand and will have some of world’s famous restaurants brands that have never had a presence in Thailand.  It will have also the best food offerings from all 77 provinces in Thailand and offer a vast choice of dining atmospheres such as a riverside terrace, in a heavenly park inside the building or on the rooftop where a wide range of bars will also be located.

    1. The Best in Communication Innovation and Service

    ICONSIAM will introduce the most advanced and most comprehensive communication infrastructure using the fastest fibre optics in Thailand and the most innovative communication package. There will be an application that provides more than 1 million tales and legends that inspired art and decoration within the building, shops, and services. Customers will be able to understand and be a part of retelling such stories.  All of these will allow us to deeply understand the needs of customers and to easily manage their experiences while enabling us to meet all their lifestyle preferences all the time.

    1. The Best in Comprehensive Travel Convenience

    As a mega phenomenon of the era, ICONSIAM is the first project to support the Bangkok Municipality’s visionary plan, a feeder lines of the mass rapid transit system, namely the Gold Line, which will be connected to the Green, Red and Purple Lines.  In the area, four piers will be built to support water travel via private yachts, tourist pleasure boats and ferries to and from 73 surrounding piers.  ICONSIAM will be the most complete connection hub for all modes of transport in Thailand including land, rail and water.

    Creating Phenomenal Success in the Real Estate Industry

    A New Record in the Most Expensive Riverside Residences

    ICONSIAM launched Magnolias Waterfront Residences at ICONSIAM – the most luxurious residential condominium development in Thailand by the Chao Phraya River.  It ranks among the best residential developments in the world in its standards.  The project offers 379 residences on 70 stories.  Each unit is built and fitted out with the most luxurious materials.  The building has luxury designed right into it, with the highest quality even in the non-visible engineering elements, components and mechanisms.  Within only 2 months in 2014, the whole project was sold out.  It also broke a record for being the most expensive residential project by the Chao Phraya River.  Its prices are comparable to those of luxury condominiums along the BTS mass transit lines on Sukhumvit, Phaholyothin and Ratchadamri roads.

    The Best in World-Class Residence: The Residences at Mandarin Oriental Bangkok

    In 2014, ICONSIAM announced a partnership with Mandarin Oriental Hotel Group to brand and manage 146 super-luxurious residences in a 52-level condominium called The Residences at Mandarin Oriental Bangkok.  Located in the ICONSIAM project, the Residences are the first ‘Mandarin Oriental’ branded residences in Southeast Asia and the 14th in the world.  They are designed and built with the highest standards of luxury, project management and residents’ services and facilities.

    Last year, ICONSIAM began pre-sales for the riverfront residential project.  It is the most expensive residential project in Thailand with prices to rival condominiums in prime locations of London, Hong Kong, Singapore and Japan.  To date, about 40% of the residences have been booked by Thai and international customers

    “The unveiling of ICONSIAM’s two retail complexes will be a game changer that shifts Bangkok’s retailing hub to the new location by the Chao Phraya River, which has all you can ask for,” Mrs. Chadatip said.

    ICONSIAM represents a new chapter in the history of Thailand’s property development.  It creates a new benchmark for all-around excellence and a new paradigm for the industry with the building of a city that brings together a complete range of residential, retail and cultural offerings at the highest international standards.

    ICONSIAM is a shining example of a Thai property developer showing the courage to make an investment, whether it be in the commercial components and the Seven Wonders at ICONSIAM, to bring to life a genuine, world-class development.  ICONSIAM has proven success beyond expectations for its residential component.  Its retail component has been recognized the world over, even though it has yet to be formally launched.  All of this is testament to the confidence in the country’s economy.  It shows Thai entrepreneurs’ resilience while showing the potential of the Thai market and the purchasing power of Thai people who can support such a world-class development.  ICONSIAM is a major step forward to elevate the stature of Bangkok as one of the most desirable cities to invest for international entrepreneurs and to live for people from around the world.

    Decision to Invest in ICONSIAM Phase 2 in Response to Strong Tenant Demand 

    Mrs. Chutrakul informed that, “ICONSIAM has discussed the project’s concept with major retailers worldwide.  All of them have expressed their confidence and indicated their intention to book retail space for the largest iconic flagship stores in Thailand.  As a result, ICONSIAM has decided to invest in the second phase of the project in response to the overwhelming demand and support it has received.  We have leased land on the opposite side of Charoennakorn Road to expand the total property size to 55 rai.  We have increased the total investment budget by a further Bht 4,000 million to Bht 54,000 million.  Details on the investment will be shared later within this year.”

    ICONSIAM will start renting out space in its two retail complexes from now onwards and plans to announce anchor tenants within the first three months of this year.

    “Despite the world’s economic uncertainty, we are proceeding with the project at full speed.  We increased our investment because we have confidence in Thailand. ICONSIAM will make a great contribution to the country support the economy of Thailand.  It is also pilot project that links with the public sector, with us planning to support mass transit systems as well as urban development and urban regeneration.  The project will attract substantial investment from international investors and retailers.  When it opens, the project will be able to create more than 350,000 jobs within 5 years from the beginning to the opening of the project.  ICONSIAM will play an important part in strengthening the tourism industry in the long term.  It will also further reinforce Thailand’s leadership in the ASEAN Economic Community,” Mrs. Chadatip concluded.

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  • WearYouWant presents a five-step guide to safe online shopping

    WearYouWant presents a five-step guide to safe online shopping

    WearYouWant, Thailand’s leading online fashion and beauty marketplace has created a five-step guide to smart shopping online for Thai consumers, with useful information on how to shop safely through reputable e-commerce sites.

    WearYouWant Co-Founder and CEO, Julien Chalté acknowledges that e-commerce in Thailand is still in its infancy and would like to guide Thai consumers into making smarter decisions when shopping online.

    “We are very aware that we are a part of a fairly new industry in the midst of enormous growth which does not enjoy the same immediate trust as our offline peers. Therefore, it is important for WearYouWant, as one of the leading players in the vertical markets, to take responsibility and provide our customers with a seamless and genuinely safe shopping experience all the way.  We offer a simple five-step guide to shopping safely online in the hope that more Thai consumers will enjoy online shopping – hopefully little by little spurring the e-commerce industry in Thailand to become the regional frontrunner.”

    Agreeing with Chalté, Pawoot Pongvitayapanu, President of the Thai e-Commerce Association highlights how the WearYouWant’s anti-cybercrime checklist is an invaluable guide. “There has been a huge rise in e-commerce in Thailand and this is positive news for online retailers attracting Thai consumers, as well creating more choice for customers.  However, the Thai e-commerce industry is still new and presently constitutes a fairly small part of retail as a whole. Alongside this expansion, we need greater education towards consumers to expand consumer knowledge about e-commerce and shopping online in general. The five-step guide from WearYouWant can help us all and we see it as incredibly useful.”

    The five-step guide:

    Step 1: Check for clear contact information:  Whilst a web shop may not have a physical retail outlet, credible e-commerce sites do have easily visible contact information. If contacts are difficult to find or simply not shown then proceed with caution. Look for a local Thai contact with a phone number or an email address and other company details for an international business.

    Step 2: Check for spelling mistakes and language problems:  E-commerce sites that are not legitimate are often full of glaring errors. This may not be an issue with a tourist site, but for an online shopping site, bad spelling and weird sentence construction should be a red flag. If a site is not an authentic e-commerce site, then it may be created quickly, using a simple translation tool. Check out the pages which list the conditions of purchases too, as well as the ‘about us’ page. Information about employees and photos can be a good indication of authenticity.

    Step 3: Check payment certifications:  E-commerce sites always display logos showing secure payment methods, such as PCI and Norton. The logos should be crisp, clear and recognizable. If there are blurred edges or if a certification has never been heard of before, it is advisable to be cautious. The rule is, if in doubt do not enter your payment details. Quite often a quick search online will reveal methods used by cyber criminals, such as company names regularly used and methods.

    Step 4: Check the company out on Google: Search engines are a shopper’s ally when it comes to investigating companies online. Simply typing in the business name into Google or any search engine should reveal some details which validate the business. This could range from the site and products being reviewed, advertised in various locations through sponsored links and mentioned in press releases and articles. Forums and social media sites can be great platforms to discover any negative experiences associated with a company and/or its founders.

    Step 5: Check common sense warnings: Instinct, logic and experience of online browsing are good indicators of whether an e-commerce site is the real deal and the products on sale are authentic. The golden rule is that while there are some amazing offers online, if a deal seems too good to be true, and then it probably is. Shoppers need to be realistic about offers in relation to the expected price of certain brand names and quality products. 

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  • Thailand’s Robinson makes online push

    Thailand’s Robinson makes online push

    Major department store operator Robinson said it was turning its focus to online sales and enhancing in-store services — offering anything from ear-piercing to eye tests — rather than opening new stores this year as the economy remained sluggish.

    President Alan George Thomson said that sales from its online platform will contribute 5-7% of overall sales by 2020, from the current 1%. In that time, its online business will become Robinson’s largest segment in terms of sales, exceeding its flagship Rama 9 store in Bangkok.

    Adding to the conventional online shopping service, special kiosks will be set up in stores where customers can make orders online. Items will be delivered to the shop as soon as the next day. Customers in rural areas can thus buy items that would otherwise only be found in the cities.

    “We are transforming Robinson from a department store to a retail company,” Thomson told reporters on Wednesday. By 2017, the company will have spent 2.5 billion baht to renovate 20 of its major department stores.

    Robinson will introduce services such as ear-piercing, eye tests, smartphone-charging stations, coffee stands and even fitness centers. “We want to make retail more than just shopping,” Thomson said.

    But sluggish domestic consumption has meant that the company will open just two stores this year, down from the four or five in the past few years.

    “The economy is definitely much slower now,” Thomson said. Sales in 2015 increased a mere 5% on the year to 2.15 billion baht, underperforming its initial target of a 15% growth. “Getting sales in Thailand is not easy,” Thomson said. “We will slow down our expansion but get better profits from existing shops.”

    To improve efficiency, it will introduce centralized cashiers in its stores.

    Robinson is a part of retail giant Central Group. While Central’s flagship Central department stores target the mid- to high-income customer, Robinson’s focus is on the mass market and a younger customer base. Many of the Robinson department stores are in the Central Plaza shopping malls operated by the group’s development arm Central Pattana.

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  • How to Purchase Condos at Affordable Prices

    How to Purchase Condos at Affordable Prices

    There have been several vast changes in the housing market today that is influencing the types of residences being built. Market trends show that traditional housing units are no longer the most attractive options for potential buyers. This is due to a variety of reasons and our progression as a society. Today, a new launch condo is the most sought after piece of real estate in the market and on Property Guru. Unlike never before, consumers are looking for housing that comes at affordable prices and that eliminates many of the hassles involved with traditional living.

    Condos may have many more advantages than a conventional housing unit, but the process of purchasing each is very similar. For quite a few people this can be a complicated process. There are several ways that you can ensure that you purchase not only the condo of your dreams but also at an affordable price. These few tips will show you how to buy a condo at a great value and in the most beautiful and desirable locations.

    1. Know when to Buy

    Much like any average service or product, the prices of condos are affected by the time of year. Peak season for condos often involves higher prices than normal, all in an attempt to drive up profits. Avoid this popular part of the year, which is usually during the Spring season, to save massive amounts of money. In the Spring, many sellers put their condos on the market at overpriced values. This can make getting a great deal extremely hard to find, especially as condo sellers are traditionally known to be stubborn with their selling prices all throughout the Spring and the Summer seasons.

    To purchase the best piece of condo real estate at a low price to you, browse and buy condos during the waning months of the year. The Fall and Winter months are known for having a market full of remarkable deals being made. Sellers who originally had overpriced their lots realize by the beginning of Fall that unless they lower their offer prices, they will receive no offers at all. This makes the waning months of the year the best time to purchase a condo at an affordable price.

    1. Contact Your Bank

    To purchase any condo at an affordable rate, a loan from your bank is necessary. This is a two-step process. To receive a loan for buying a condo, you also need to ensure you can afford a loan to begin with. No bank will initiate loans with a client that has a bad credit score history or has outstanding debts. This makes paying off debts and establishing a good credit history a priority.

    By consulting your bank experts, you can establish which kind of loan options are available to you. The better your credit history, the better loan you shall receive. What this equates to is being able to purchase a condo in a larger price range. The most recommended option by financial experts before purchasing any condo is to talk with your local banking officials to assess if you are eligible for a pre-approved loan.

    1. Research Different Neighborhoods

    Not all condo prices are the same throughout one area. Different localities have different price ranges, and miscellaneous items included. As the New York Times reports, premiums and closing costs are other financial issues that come with every condo buying process. These factors vary across neighborhoods and so it is important to research a multitude of different localities to assess price differences.

    Potential buyers can also get a better feel for their future surroundings by visiting the real estate properties themselves. Research can only give you so much information. For a real understanding of a property and what it entails, the absolute best method is to visit and tour the place in person. Hiring a real estate agent to help you during this process is extremely helpful to find the best condo choices based on your budget.

    Summary

    As Kiplinger states in their article, after the value of properties have lowered by almost 41 percent, condos have rebounded as one of the most popular residential choices today. The market is full of thousands of different possible condo options. Choosing which condo is best for you can be a relatively simple process. By following these three tips, you can purchase the condo of your dreams in a location that is close to paradise.

    Remember, it does not have to be expensive. With research, loan options, and knowing the best season to buy or browse condos, you can purchase these pieces of real estate at affordable rates. With all their advantages in lower maintenance and upkeep costs, it is no wonder that so many people across the world are turning to condos as their premier choice of residence.

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  • Apple’s iBeacon on trial at Central World

    Apple’s iBeacon on trial at Central World

    Nattakit Tangpoonsinthana, executive vice president of marketing, said yesterday that while urbanisation has driven the retail industry in recent years with the growth of shopping malls in the provinces, the new retail landscape is being reshaped by the Millennials and Generation Z shoppers.

    Millennials are people aged about 21-30 and Gen Z are 15-20. Although these two groups represent only 10-20 per cent of shoppers, they are leading the voices in social media and influencing purchases and consumption.

    “Retailers must give importance to these new-generation shoppers, who will be the game-changers of the retail industry and general businesses within five years,” he said.

    To fulfil the needs of these shoppers, CPN, which is aiming to become a leader in the regional retail industry, is creating a seamless experience, focusing on customisation and becoming a social enterprise.

    iBeacon enables tenants to send tailored messages to shoppers who have loaded the CentralWorld app on their smartphones.

    CPN is also talking with a software company to mine Big Data from its The 1Card customer relationship management programme, which holds mountains of data on 8 million-9 million members.

    The Millenniums and Gen Z shoppers have already shaken up the fashion world, which has launched more frequent new collections and “limited editions”.

    To address the tastes of these groups who get bored fast, CPN will have to create more “wows” and “happenings”, launch concept stores and speed up store renovations from every eight to nine years in the past to every four to five years now.

    CPN has increased its digital marketing budget to 10 per cent of its Bt700 million marketing budget from just 3 per cent in the past.

    Marketing staff have to have digital literacy. Store managers must know not only on how to run their physical branches but also how to engage and converse with their shoppers online.

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  • Philippines online grocery service launched

    Philippines online grocery service launched

    Jakarta-based HappyFresh is bringing its operations to the Philippine market by the second quarter of 2016.

    Manila is the online grocer’s fifth market in Asia, following  Indonesia, Malaysia, Thailand and Taiwan. Isabel ‘Pao’ Barientos, former chief operating officer of online marketplace theshop.ph, will lead the Manila office as MD. Barientos has also previously worked for deal sites Ensogo and the Lazada Group.

    The Philippines online grocery shopping app will target the growing urban workforce, especially working mothers, who are in need of personal shoppers to deliver goods amid the city’s notorious traffic congestion.

    “The Philippines is an exciting market because the population’s wealth is expanding and consumer spending growth will accelerate through to 2030,” said HappyFresh CEO and co-founder Markus Bihler in a statement.

    In Bangkok, HappyFresh competes with supermarket chain Tesco Lotus, which has been offering a delivery service for several years already. In Jakarta, the competitor is startup Back Garlic, a meal-kit delivery service sends pre-packaged, portioned and labeled groceries in a box.

    Bihler said the market for online grocery shopping in Asian countries could see double-digit growth in market turnover by 2020 to reach S$19 billion (US$13 billion) by 2020. He said the rise of a young, working-class population in urban areas is driving the market.

    Working mothers outnumber all other HappyFresh customers, with dairy products such as milk and eggs among the top purchases. They are followed by young professionals and expatriates who mainly buy tomatoes, spaghetti and chicken breast.

    Securing $12 million in funding as a start-up last year, led by Singapore’s Vertex Venture and Sinar Mas Digital Venture, HappyFresh partners with supermarket retailers, “particularly small and medium-sized enterprises that do not have the capacity or ability to invest in technology and reach out to new set of customers,” said Bihler.

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  • California Wow founder sues Thai government

    California Wow founder sues Thai government

    Eric Mark Levine, the founder of California Fitness clubs worldwide and the Thai chain California Wow Xperience has filed a US$2.8 million defamation lawsuit through his legal representative at Bangkok Criminal Court.

    Levine has filed suit against Thailand’s Anti-Money Laundering Office (AMLO), as well as its secretary-general Police Colonel Sihanart Prayoonrat, for damaging Levine’s reputation through public remarks made by the Police Colonel alleging improper payments and fund transfers by Levine.

    As CEO of California Wow, Levine said the Office of the Securities and Exchange Commission of Thailand (SEC) has already investigated the chain’s operations and financial records with specialist forensic accounting investigators as well as specially trained police officers.

    “All  publicly stated there is no evidence of wrongdoing or of any action to substantiate the Anti-Money Laundering Office’s allegations,” Levine said in a statement.

    He added that the Department of Special Investigation has also refused to conduct any further investigation as requested by Police Colonel Prayoonrat and the AMLO.

    Levine said he and all involved in the management of California Wow had given their “full cooperation to authorities” during the investigations which had cleared them of the AMLO’s allegations.

    Levine added that internationally recognised auditing firms like Deloitte Touche Tohmatsu Jaiyos and PriceWaterhouseCooper have confirmed the accounts and transactions of California Wow to be correct and without irregularity.

    “And… far from taking money out of the company, I had injected personal funds to support the operations of the company in its final days.”

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