Siam Piwat Investing THB 4B for Siam Discovery Renewal

Bangkok (Thailand) – April 20, 2015 – Siam Piwat, the owner and operator of leading retail and lifestyle complexes in downtown Bangkok, including Siam Paragon, Siam Center and Siam Discovery, is investing over Bht 4,000 million to give Siam Discovery a total renewal for both its interior and exterior incorporating a new revolutionary retail concept,

Breaking all the rules, ready to rock Bangkok early 2016. In addition, it will be a first-time phenomenon with a number of original ideas never before seen in Thailand, further strengthening its position as a world-class shopping destination in downtown Bangkok. In a big promotion conducted between 23 April and 5 May 2015 called the Ground Breaking SALE, deep discounts are being made on famous brands. A totally new Siam Discovery will be open for business in early 2016.

Mrs. Siriphen Intuputi, senior executive for Marketing and Public Relations, Siam Piwat Co., Ltd., said, “Last year announced a 5-year investment of Bht 55,000 million, the Bht 4,000 million total renewal Siam Discovery is an additional investment. The renewal construction will begin in May 2015 and we will be unveiled in early 2016.

The success of our renovation of Siam Center two years ago where we received amazingly good feedback from tenants and visitors made the management and staff of Siam Piwat confident in the company’s approach to maintaining its lead in introducing innovations to the retail industry. Siam Discovery has been in operation for over 18 years. So the company decided to give it a total renewal in order to bring new experiences of the era to Thai shoppers and international visitors who will come to Thailand in great numbers following the creation of the ASEAN Economic Community (AEC). Thailand will be the tourism and transport hub of AEC because, in addition to our central location in ASEAN, we also have potential in many areas. We have quality human resources, technological advances and readiness as an ideal venue for international conferences and exhibitions and as a distribution centre and medical hub. We are also outstanding in tourism. We believe that after the AEC takes effect, Thailand’s retail industry will grow by more than 25%. There is a lot of new investments in the retail sector in anticipation of future economic growth. This includes Siam Piwat’s planned investment during 2015 – 2019, with the renewal construction of Siam Discovery a part of the plan.

Siam Piwat has partnered with more than 100 branded stores to offer special discounts for loyal customers under the, Ground Breaking SALE, campaign at Siam Discovery. All famous brands inside Siam Discovery will offer discounts of up to 90% in their clearance sale. There will be additional promotions for visitors to shop endlessly. These include Instant Win where a specified amount of money spent is eligible for Siam Gift Card worth Bht 1,000 as well as other special premiums. In addition, the company has joined forces with leading credit cards to offer generous privileges for visitors shopping during the promotional period. Shoppers have only 13 days from 23 April 5 May to exercise their rights. On 6 May, Siam Discovery will be closed for renovation. It is expected to be open for visitors to discover new retail experiences within the first quarter of 2016.

While Siam Discovery is undergoing it new construction, Madame Tussauds, Bangkok will continue to be open as normal and the entrance to the museum will be changed to allow access from Siam Tower. This is to receive Thai and international visitors who continue to show interest. Famous brands inside Siam Discovery will open temporary shops within the premises of Siam Center and Siam Paragon to serve their loyal customers.

Siam Piwat has drawn a detailed plan for the total renewal of Siam Discovery and we are confident that when the new Siam Discovery opens in 2019, it will be an unprecedented phenomenon in the retail industry with many original and trendy ideas. It will be the talk of the town just like when the new Siam Center was unveiled. It is how Siam Piwat operates to maintain the position of The Icon of Innovative Lifestyle. For the concept and new face of Siam Discovery, a press conference will be held to officially announce a new concept of the store as a world-class shopping destination in downtown Bangkok in the near future,” Mrs. Siriphen said.

For more information, please contact Public Relations department:
Tel. 02 -658-1000

Supris Netekien
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Sireetorn Niyomsen
e: sireetorn.n@supremo.co.th