Central World's operator has announced it will develop a new "urban lifestyle" destination to replace the decades-old Isetan department store which will bring down the curtain this August.
The well-known Japanese chain, which has partnered with Central World for 30 years, will see its lease with the operator, Central Pattana Plc (CPN), expire in December this year.
CPN is planning to bring in a new shopping experience to make it a global destination for shoppers and tourists visiting the heart of Bangkok in Ratchaprasong, deputy CPN Chief Executive Officer Wallaya Chirathivat announced yesterday.
"I would like to express my sincere gratitude for the friendship that we have shared with Isetan, which has enabled us to create happiness for Thais and tourists," she said in a press release.
The 27,000 square metre area covering six floors of Isetan will be renovated, but the Japanese feeling and ambience will remain, according to the release.
"New stores and services will be added to meet the needs of customers who appreciate the authentic Japanese lifestyle.
"CPN will not only use this opportunity to enhance its ability to generate revenue, but it will also make the new mall more vibrant than ever to meet the changing lifestyles of consumers," said Ms Wallaya,l explaining the concept.
After Aug 31, Isetan will be closed for the renovation work to begin.
The new department store will open again with its new look around the third quarter of next year, Ms Wallaya said.
"At the moment, CPN is working on new international partner issues and negotiating with international key anchors on the development blueprint," she said.