Thailand’s Siam Piwat Group, the real estate and retail developer behind Siam Paragon, Siam Center, and Siam Discovery, and South Korea’s Hyundai Department Store have announced a partnership to develop elevated retail offerings that leverage the strengths of both businesses in their respective markets.
The partnership aims to showcase leading brands and exclusive items across shopping centres, bringing both emerging and established Thai brands to Hyundai properties as well as introducing small and medium-sized Korean brands to the international market.
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Among the initiatives planned is a ‘K-Content Specialty Place,’ showcasing popular Korean products aimed toward attracting Thai customers and foreign tourists.
“This is the first time a Korean department store has outsourced the operation of a part of a store in a famous overseas shopping mall,” said Jung Jee Young, president, Hyundai Department Store.
The Siam Piwat-Hyundai Department Store partnership will also offer enhanced benefits to members of ONESIAM and Hyundai Department Store. Through the collaboration, shoppers will enjoy special privileges at shopping centres, stores, and alliance networks.
Siam Piwat has previously partnered with retailers in other markets, including Parco Shopping Complex in Japan, Taipei 101 in Taiwan, Times Square in Hong Kong, Ion Orchard in Singapore, and Pavilion Kuala Lumpur in Malaysia.
Mayuree Chaipromprasith, president, corporate affairs and communications, Siam Piwat, said, “We prioritise fostering a constructive ecosystem continuously by partnering with leading and robust global business entities and consolidating remarkable potential to propel business growth in innovative and boundless ways.”
“Together, we aim to offer superior benefits and elevate the customer experience. This collaboration also presents a significant opportunity to break down market boundaries and showcase the potential of K-Culture, a highly popular trend in Thailand,” said Hyundai Department Store’s Jung Jee Young.