As competition intensifies in the retail market, big players are working harder to lure more customers by offering more fashion products, the segment they unanimously agree has the highest potential.
The Mall Group expects sales from its women’s fashion business to reach 9 billion baht this year, up from 6.6 billion baht last year, says MsVoralak.
The Mall Group and Siam Center have developed their own multi-brand fashion stores, while Central Group has joined forces with major fashion companies to update their collections more frequently throughout the year.
They share the same goal: making their complexes the fashion destinations of choice for young people.
Voralak Tulaphorn , The Mall Group's senior vice-president for fashion merchandising, said its sales of women's fashion items last year rose impressively by 32%, prompting the group to expand its fashion sector and branch out to full-scale high-end fashion products for the first time this year.
Its first own multi-brand shop-in-shop for women's fashion, Contem Salonon, was opened at Siam Paragon last month with more than 30 designers brands from the US, Britain, France and Italy.
Brands that receive a good response may have their own shops. Joseph, a British fashion designer brand, is set to open a standalone store at the shopping centre next month.
Ms Voralak expects sales from all women's fashion business of the group to reach 9 billion baht this year, up from 6.6 billion baht last year.
Siam Piwat executive vice president Charnchai Cherdchuwongthanakorn said four multi-brand speciality stores were opened recently at Siam Center.
The Selected offers lifestyle product items from stationery and furniture to home decorations, information technology and entertainment.
In Seconda sells international bag and shoe brands and plans are afoot for its own exclusive designs and items.
Nine Seventy Nine (979) offers international fashion apparel brand, bags and shoes, while The Wonder Roomshop sells fashion products from young Thai designers.
The company recently joined with Harn Group, a spa manufacturer, to develop an exclusive line of perfumes under the Absolute Siam Eau De Toilette brand, with a.i.r # 1 amazed being the first product.
Central also sees huge growth potential for fashion products, buoyed by frequent and rapid changes of fashion trends, globalisation and easy access to social networks, according to Nattakit Tangpoonsinthana, executive vice-president of Central Pattana.
More and more people are becoming fashion-conscious and keen to keep up with the latest fashion information, leading to the creation of a fast-fashion model and bridge lines, which respond well to trendsetters' insatiable demand for new products.
Central estimates the fast-fashion business to be worth 10 billion baht with double-digit annual growth in the foreseeable future, thanks to high demand from tourists, the emerging middle class and the emergence of new shopping malls.
Existing brands have also seen record sales over the past few years, he said.
For example, the Kade Spade brand in Thailand records the highest sales growth of 69% compared with sales in other Asean countries.
Central plans to expand the fashion space at its main shopping centres to 50% of its retail space within the next two years, up from 40-45% now.