Central Retail Corporation (CRC) is launching an ambitious 4 billion baht renovation of Central Chidlom, transforming it into “The Store of Bangkok,” a haven for luxury shopping, slated for unveiling in December. The investment is the most substantial since the establishment of the mall in 1974, signifying a new era for the iconic Bangkok shopping destination.
Central Department Store Group CEO Natira Boonsri said the buoyancy of Thailand’s luxury market is driven by robust domestic purchasing power and a surge in demand for high-end goods during the pandemic. She noted that the travel restrictions also led to a clear pivot towards domestic luxury shopping, enticing global luxury brands to deepen their investment in Thailand.
According to Natira, a novel feature of the revamped Central Chidlom will be the “Sneakers Boulevard,” displaying over 800 pairs of sneakers, including the latest collections and rare editions, seeking to attract a demographic that spends an average of 250,000 baht annually.
Currently, foreign visitors constitute 20% of the clientele, predominantly from the Middle East, China, Russia, and India. Following the renovation, the proportion of international shoppers is projected to increase to 30-40%. CRC expects to see a 20% rise in foot traffic and a 30% increase in sales by 2025. (NNT)
