Central Pattana announces success of 'Central Village’ – the first luxury outlet in Thailand

Economy News Tuesday May 21, 2019 09:32 —PRESS RELEASE LOCAL

กรุงเทพฯ--21 พ.ค.--Central Pattana Central Pattana Plc. (CPN), the leading shopping center and property developer in Thailand, unveils its construction progress of Central Village - Thailand's first International Luxury Outlet - under the concept of 'Bangkok Luxury Outlet', which is now 70% completion. It also announces to open the booking for 2nd phase of retail space after the first phase was completely booked almost 100%. The tenant meeting was held to encourage its partners preparing for the countdown to the grand opening of Central Village, which will be officially launched on 31st August this year. Ms. Wallaya Chirathivat, Deputy Chief Executive Officer of CPN, said: "We are very proud that we have been able to create Central Village, Thailand's first international luxury outlet, where Thai people can be proud of Thailand being a global shopping destination. This will help fulfil the travel experience in Thailand as comparable to other leading countries around the world. The progress in construction of Central Village has reached 70% completion and we start to accept reservations for retail space in phase 2 after completed almost 100% of retail space sales in phase 1. Importantly, there are over 65 brands that have chosen to open their exclusive outlet stores only at Central Village. Currently, all stores are in the process of preparation for the official grand opening on 31st August. We aim to attract over 10 million Thai and foreign shoppers in the first year." "To prepare for the official grand opening, Central Village is going to launch a marketing campaign to support 'Brand Lovers' among Thai and foreign tourists, particularly the 'Young Affluent' target group, which is a new segment that luxury brands around the world are keeping an eye on. This target group is likely to increase in Asia. They are 25-40 years old who are successful early in life and career, and have a monthly income of over 50,000 baht. They have high purchasing power and mostly are 'Smart Shoppers', as they tend to consider value and quality rather than luxury. They are 'Quality Seekers' and they tend to have self-rewarding behavior as well as being 'Status Hunters'. Shopping outlets are a top choice for this target group. According to data from 'The 1', among all 'The 1' members, over 2 million of them are considered 'Young Affluent'. They are a new generation of consumers that we need to focus." To ensure the international standard, CPN partners with a consulting team, The Outlet Company (TOC), a global outlet management company who has developed and managed several international outlet around the world. For the concept design, we combine elegant and Thai uniqueness in this project. Copper hues will be used to represent 'Luxury, Natural and Prestige' along with silver-gray to represent 'Modernization, Sophistication and Innovation' for the new generation. The building was architecturally designed to be modern Thai style using a Thai-style gable roof with minimal complex patterns to give it a more modern look. The zones are divided under the interpretation that they are several different villages. The shops within the project will be called 'boutique stores' to represent luxury that is easy to access, and combined with an outdoor green space, which is similar to other popular outlets around the world. Ms. Wallaya concluded: "World-known tourist destination countries like England, Japan and Hongkong also have their favorite outlets among tourists and soon, Thailand is going to have Central Village as something to be proud of as it will become a 'Must Visit Shopping Destination to Complete Your Trip'. It will be a check-in point where tourists come every time they travel to town or head for the airport, catching up with the trend of 'Aerotropolis', where cities are being developed near airports around the world. Central Village will make this happen for the first time in Thailand and support Thailand in becoming a new shopping paradise of the region. This is a key strategic move for CPN that emphasizes the company as a global player that continues to support Thailand's tourism and economy." Central Village is located near Suvarnabhumi Airport, with convenient transportation links such as public transport (BTS) and private vehicles as well as shuttle bus services from CentralwOrld, Udomsuk BTS Station and from Suvarnabhumi Airport. It is the first and only shopping paradise where you can buy popular brands with 35%-70% discounts daily. There will be over 235 boutique stores from global brands such as Polo Ralph Lauren, Kenzo, Vivienne Westwood, CK Jeans, Adidas, Guess, Converse, Superdry, Rip Curl, Roxy, Quiksilver, Samsonite and etc. in addition to IT devices, home appliances, toys, home products, leading restaurants and hotels to deliver a new sensation for Bangkok to becomea true 'World-Class Shopping Destination'.

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