Bangkok--11 May--Ogilvy Public Relations Worldwide
Siam Retail Development invests 1 billion baht to launch newest platform of premium lifestyle mall called “The Promenade”. Situated next to Fashion Island, when the two malls combine, it establishes a new concept of ‘hybrid mall’ for the first time ever in Thailand. The Promenade responds to the needs of target consumers in Ramindra area with a rare combination of premium enclosed mall and an outdoor urban streetscape retail component. The Promenade is scheduled to open in February 2012.
Mr.Prasert Sriuranpong, Executive Director of Siam Retail Development Co., Ltd that operates Fashion Island and “The Promenade” said “we decided to invest in “The Promenade” project because we see great potential and continuing growth of target consumers in premium segment. Over the past 2 years, we have seen that there are a lot more people coming in to Fashion Island. There were approximately 80,000 consumers with 18,000 — 24,000 cars per day which is very high compared to other department stores. We have also found out from our survey that in a distance of 5-10 kilometers from our department store, there are more and more premium residences popping up in the area. There are more than 22,000 households with more than 100,000 people living in residences that are worth more than 5 million baht each. And each of the household’s revenue is approximately more than 200,000 baht. With all this information and research, we have seen that there is a gap to fill for premium segment in the area.”
“We decide to come up with “The Promenade” project next to Fashion Island to support the high traffic of consumers that keep coming to our mall. Combining with Fashion Island, The Promenade is set to become the first ‘hybrid mall’ in Thailand and respond to the needs of consumers in the neighbourhood. Premium consumers as well as general consumers can come here and get all they need in one spot as they can walk from one mall to the other in one minute.”
Mr.Prasert added “We have invested more than 1 billion baht in the project. The Promenade is located in a 18-rai land. It is a two-storey building with 18,000-sqm commercial area. “Let’s take a Walk” is a slogan for our mall. We use this one because we want to encourage our target consumers to come in and take a walk in a place that has everything they want for their lifestyle.”
The Promenade targets on premium consumers aged from 28-40 who have high purchasing power and have a taste and lifestyle of their own. They always love to hang out with friends or family in a place that is convenient for them to go specifically on weekend. A variety of products to serve all their needs is a must for this group especially products in supermarket, foods and fashion products which are three main categories of products that target consumers want to buy when they come to the mall.
The Promenade is a lifestyle mall that combines enclosed mall with outdoor urban streetscape retail component, with such attractions as fashion retail shops and restaurants. But what special about the Promenade is that there will be an air-conditioned skywalk to connect each building to offer consumers a more convenient and continuous way to shop especially during rainy season. And it is a great benefit for tenants to be able to gain revenue without fear of the rain like in open-air shopping mall.
The exterior architecture of The Promenade is designed by ‘Old Town Main Street’ concept while the interior is conceptually inspired by ‘Romantic Casual Style’. Customers who come in can feel the European touch of the place while walking around here from day to night. Retail shops opened in The Promenade include fashion boutiques, home decoration, health and beauty and a 1,600-sqm premium supermarket that owns more than 50% of all area in ground floor. A great selection of international restaurants and bakery shops are opened for customers to choose from. There will also be a huge greenery garden situated in the middle of the building.
More than 60% of construction on exterior structure has been done. During this pre-sale period, potential tenants are welcome to apply for rental.
The Promenade, the first hybrid lifestyle mall in Thailand, is scheduled to open in February 2012.
Issued on behalf of: Siam Retail Development Co.,Ltd
For further information: Ruanrudee Taweepol (
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Tatsanun Agornchee (
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Ogilvy Public Relations Worldwide Ltd
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