Building a shopping mall is not rocket science — all you need are deep pockets. Keeping ahead of the game through thick and thin, however, requires a lot more than that.
The Emporium is being given an elegant new facade.
Judging from the fact that there were still throngs of customers when it was under renovation for the most part of this year, The Emporium is a success story to learn from. Opened in 1997, the shopping mall has withstood fierce competition in the retail market for almost two decades, according to Supaluck Umpujh, vice-chairwoman of The Mall Group, the company that manages the department store.
"When we first opened, people were not really familiar with the luxury market, and there were questions by the high-end brands whether Thai consumers were really going to embrace luxury shopping," she said. "Gradually, though, they changed their perceptions. Whether it's seen as social status, fashion, or a new standard of living, the luxury market has definitely evolved."
She said that today, luxury is not only for the rich, but also for those who value a refined lifestyle.
In the past, Thai people were not entirely foreign to luxury goods, according to Supaluck. In fact, they were top spenders at many luxury stores abroad, such as Harrods in the UK and Galeries Lafayette in France. However, it took a while for them to warm up to the idea of buying luxury goods on their own turf, due to the level of tax involved.
The Emporium's new look.
While convincing people to shop locally was a big challenge, it was even harder to entice global luxury brands to come to Thailand at the time, when some of them had never even heard of Thailand.
"At first, they had questions whether Thai people would really spend money on their products," she said. "Now, almost 20 years later, they realise that the luxury market in Thailand is sophisticated and fast-growing.
"They know that the Thai market is not only for the local consumers — tourists from around the world love to come here. We are fortunate in the sense that tourists literally from around the world come to us. That's a plus point for the luxury market in Thailand."
Supaluck Umpujh, vice-chairwoman of The Mall Group.
To welcome regional competition, Supaluck said the group has decided to shell out 20 billion baht to renovate The Emporium and invest in two other projects — The EmQuartier and The EmSphere. The three combined, collectively called The Em District, promise to turn a new page in the Thai retail history.
The EmQuartier, to be officially opened in March, comprises 250,000m² of space decorated in a "tastefully done" atmosphere, as Supaluck put it.
The EmSphere, with a project area of 200,000m², is set to create a new shopping experience for the hipper, younger crowds in the city.
"In the past, we had to travel to other countries to see what great shopping malls looked like. Now, foreigners have to come here," said Supaluck. "Many new brands who have never entered the Thai market before are also marching onto Thai turf, resulting in the overall retail industry becoming very exciting."
Supaluck added that luxury is not just about fashion. Consumers today enjoy luxury in every aspect of their lives, from dining to travelling. Dining, in particular, has been a fast-growing sector in Thailand. She reasoned that people today don't go to a department store just to buy things — they go to hang out.
"I think it's very important to provide relaxing corners for them, something beyond the ordinary. A shopping complex should not be another concrete jungle. It should reflect elegance and timelessness because people don't just come to shop — they should be able to enjoy themselves and feel happy," she said.
Looking ahead, Supaluck is confident that next year will be a joyous one, thanks to the improved political climate and economy.
"We were off to a bumpy start this year, but now things are starting to pick up," she said. "Next year, if nothing goes wrong, more tourists will come to Thailand, and the Thai people will be in the mood to spend again.
"Bangkok now has many new, beautiful shopping places that will bring happiness to them. Happiness is very important, because if consumers are happy and confident, the economic climate in general will be better. That's what we aim to do — create happiness. The government is giving happiness to the people, and we are trying to do the same."
Chloe opens its full concept store for the first time in Thailand at The Emporium.
