Siam Piwat Simon Co, the operator of the shopping mall Siam Premium Outlets Bangkok, is conducting a feasibility study to determine the ideal province for a second branch.
Managing director Michael Tang said the company wants a suitable province to open a second branch, prioritising a large local population and a significant influx of foreign tourists.
The province must have excellent transport infrastructure and provide convenient access for travellers, with a location easily visible to shoppers, he said.
Siam Piwat Simon is a joint venture between Siam Piwat Group and US real estate investment trust Simon Property Group, which invests in malls. Although the outlets under Simon Property offer many international fashion brands, these brands have not yet established their stores in downtown Bangkok.
As a result, opening an outlet there would not be successful as they are not yet popular enough among Thai shoppers, said Mr Tang.
"We are interested in opening a new Siam Premium Outlets Bangkok because Thailand still holds potential for more high-quality shopping outlets," he said.
"Despite having a smaller local population and fewer foreign tourists than Thailand, South Korea already boasts five high-quality shopping outlets."
With the pandemic over, several luxury fashion brands opened outlets at Siam Premium Outlets Bangkok in the fourth quarter of last year, including Versace and Longchamp.
Other brands, such as Puma and Anta -- Chinese sportswear brands -- are scheduled to open their shops at Siam Premium Outlets within seven months, said Mr Tang.
Lacoste is also in the process of expanding its site from 180 square metres to 300 sq m.
Nike recently launched a new concept called Nike Unite-SPO, with a soft opening at Siam Premium Outlets. The store offers an expanded product line for children and women.
He said 2-3 luxury brands are on a waiting list to open their stores.
"Outlets are a new concept for Thais. We will focus on building brand awareness and educating the local population about the everyday savings of 30-70% available at Siam Premium Outlets," said Mr Tang.
"If shoppers are unaware of us, no matter how attractive our pricing is, they will never visit our store."
He said the Thai retail industry provides sales promotions throughout the year, making competition challenging.
This year the outlet centre is participating in "National Outlet Shopping Day", an event held at Simon Premium Outlets under Simon Property Group.
This campaign is being held outside of the US for the first time, and Thailand's Siam Premium Outlets is leading the way by providing the same unique experience, special privileges and promotions as its counterparts in the US, Canada, Mexico and Malaysia.
Customers visiting Siam Premium Outlets can receive gift cards or other privileges from participating stores.
To boost local spending, the company plans to launch more active marketing events.
In 2022, the outlet welcomed 230,000 tourists and 2 million Thai visitors. This year, the firm expects to attract around 2.2 million Thai visitors and 300,000 foreign tourists.
By 2025, they expect the total number of visitors, both local and foreign, to reach 3 million, said Mr Tang.
