It was only a matter of time before the big brands halted the accession of trendy new Thai designer brands getting prime retail space.
Thailand is expected to see the arrival of 50 new international mega-brands next year, according to the Bangkok Post. Levi’s Vintage, Oakley, Agnes B, Giuseppe Zanotti, and Miu Miu are gearing up to open up stores in properties including Siam Paragon and Central Embassy, a new complex set to open at the Ploen Chit intersection.
Louis Vuitton and Rolls-Royce are expected to open flagship locations as well as Ralph Lauren and H&M joining the ranks among the legions of foreign brands becoming available next year.
Do Thai shoppers welcome these new retailers? It might not matter, as Kriengsak Tantiphipop, head of Siam Paragon Development made it clear that Thai nationals weren’t the target market.
Thailand is full of Chinese tourists and has become an important destination for luxury and lifestyle brands to have a presence; luxury consumption in China is about 20% of global luxury consumption now and is expected to increase to 50% over the next 10-13 years” he said.
He also noted that the demand for luxury products in Thailand grew 30-40% per year during the last five years.
This is great news for those of us who love foreign brands, but for fans of homegrown labels this is just another reason to love places like Terminal 21 for showcasing Thailand’s own talent.
