Magazines Archives - 2011 June
CRC creating an iconic Bangkok landmark Central Embassy
Bangkoks retail scene is set to welcome THE new development in 2013 which is expected to redefine luxury retailing in the Thai capital. Jolene Klassen reports.
LOCATED in the hub of Bangkoks shopping district, the upcoming mixeduse development, the Central Embassy, is slated to transform the city and provide shoppers an unmatchable shopping experience.
Developed by one of Thailands leading retail conglomerates, Central Retail Corporation Ltd (CRC), the Bt10-billion (US$329.6-million) Central Embassy, which spans 144,000sqm, has been dubbed as a new iconic landmark that is set to boost the standard of retailing in the country.
CRCs CEO, Tos Chirathivat, told Retail Asia that inspiration for the new development came from the success of the companys award-winning Central Chidlom department store, which is located next to the Central Embassy.
He noted that Asians love to shop and go to malls, and retailing is a big part of consumers lifestyle. Coupled with the growth in incomes across the country, especially in the provincial cities, Tos observed: Retailing is no longer just about the department store; the shopping mall has become an element of lifestyle.
As incomes continue to rise in Asia, especially in cities like Bangkok that is a shopping paradise for many consumers, brands, particularly European ones, are becoming more bullish, making them more eager to expand. I think they have also come to a realisation that the future is in Asia. This is no longer a question and no one is hesitating anymore.
He added that with these factors in mind, the group decided it was the opportune time to do something that is both iconic and will raise the standard of retailing in the industry.
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