Gut unhappy? There’s now a probiotic designed specifically for Thais
TUESDAY, NOVEMBER 22, 2022
Nongluck Ajanapanya
Winona Feminine, which specialises in feminine cleansing products, is collaborating with the leading pharmacy chain Bangkok Drugstore to expand the reach of its new Winona Probio supplement.
Nopparat Suksaranludee, the founder of Winona Feminine, told the press on Tuesday that the probiotic was the result of more than 20 years of research and had been bred especially to match the physical conditions of Thai women.
She added that Winona Probio had won a very positive response when it was launched in May via the Winona Feminine website, prompting her to start seeking distribution partners.
“Our partners need to be experts who know how to store the product properly and can explain the usage correctly. Winona Probio needs to be stored in cold temperatures to keep the bacteria alive,” Nopparat explained.
She said that though most Thai women are aware of the benefits of probiotics, such as better immunity and prevention of some vaginal infections, most probiotics sold locally are imported.
However, she said, upon meeting researchers from the National Centre for Genetic Engineering and Biotechnology (BIOTEC) as part of a Thailand Centre of Excellence for Life Sciences project, she learned of Thailand’s first probiotic strain – the Lactobacillus paracasei MSMC39-1.
She explained that this probiotic bacteria had been bred specifically to work effectively on Thai digestive systems, which makes it very effective with few side effects.
“We already have some cleansers that help provide immediate relief for feminine problems, but Winona Probio prevents these problems from occurring in the first place,” she said.
Probiotics are often described as “good” or “friendly” bacteria that help restore the natural balance in the digestive system when it has been disrupted by an illness or treatment.
She added that her company is working with Biotec to develop a second probiotic breed that can help reduce cholesterol, boost antioxidants and kickstart the metabolism.
“This should be released by the end of this year,” she said.
Winona Feminine was founded in September 2016 with the goal of producing and developing personal care and cosmetics products, with a special focus on feminine hygiene.
Though most of the company’s products are sold locally, it has started entering the export market.
Nopparat said she plans to start selling Winona Probio in Asean countries, namely Laos, Cambodia, Myanmar, Vietnam, Singapore, the Philippines, Indonesia, and Brunei, in a year.
She said the export of Winona Probio will be limited to Southeast Asia because these countries share similar cuisines, weather and lifestyles.
However, she said, the cleansing products will be targeted at a wider market and sold in countries like China, South Africa, Bangladesh, the United Arab Emirates and Oman to name a few.
How Jubilee Diamond is using personal digital touch to sparkle in economic gloom
TUESDAY, NOVEMBER 22, 2022
Nongluck Ajanapanya
Thailand’s near century-old jewellery brand is celebrating sparkling success after wedding tradition with digitization’s personal touch.
Unyarat Pornprakit, CEO of SET-listed Jubilee Enterprise, the mother company of Thailand’s leading jewellery brand Jubilee Diamond, told a press conference on Monday that data combined with artificial intelligence (AI) is helping the company meet the individual needs of clients.
“It assists our designers and marketing teams in predicting what type of design they prefer or which promotion we should use for each customer segment,” Unyarat explained.
She also highlighted the importance of data digitization, stating that it allowed her brands to respond quickly during crises like the Covid-19 pandemic.
After closing all nationwide stores and counters in 2020, Jubilee launched its online channel within five days.
Currently, data digitalization is sustaining the growth of Jubilee Diamond, Unyarat revealed. The internet is now the main platform for engagement with customers.
“We now know in real time whether or not customers are satisfied with our products and services. If not, we are alerted and can correct it quickly,” she said.
The CEO explained that the personal touch is powered by systematic data collection, which is being expanded via advanced technologies such as artificial intelligence (AI) and Net Promoter Score (NPS), a tool that measures customer satisfaction after using services or products. World-class brands use NPS as a business management standard.
The CEO said the results of the analysis have been very satisfying, especially when used in marketing activities and product development.
For instance, it has driven up repeat purchases among Jubilee Diamond’s membership programme, which currently accounts for 55% of total revenue.
Under advanced data digitalisation, the programme has been rebranded “The Sparkling Club”, offering a whole new level of benefits.
Jubilee Diamond now has a new member base that accounts for 60% of its total 200,000-plus members. The company expects to add 20,000 new customers this year and 30,000 in the following years.
Unyarat also revealed that by the end of this year, Jubilee Diamond will have 130 branches nationwide, with 6-8 new flagship stores and counters opening in 2023.
She dismissed the idea that inflation and looming economic recession would affect her business, stating that diamonds are always in demand and that data digitisation allows her to target market segments accurately and quickly.
“The brand is growing 5-7% per year on average,” she said.
Jubilee Diamond has been innovating in the jewellery trade for more than 93 years, making it the top jewellery company in Thailand. It is also the only diamond jewellery retailer listed on the Stock Exchange of Thailand.
SEC suspends all operations of broker Asia Wealth Securities
TUESDAY, NOVEMBER 22, 2022
The Securities and Exchange Commission (SEC) suspended all operations of brokerage firm Asia Wealth Securities (AWS) after its net capital was recorded at below zero for more than five days.
The company blamed this on the More Return Plc (MORE)’s trading debacle.
The SEC announced on Tuesday that it has also ordered AWS to transfer its clients’ assets to other brokers immediately.
The SEC said AWS’s capital had stayed at below zero since November 14 and it had failed to take proper action as required by the law, like cancelling all advance selling and purchasing orders placed by clients.
The commission also accused AWS of failing to inform its clients and transferring their accounts to other brokers as required by law.
Meanwhile, Asia Wealth Securities explained on its website that its stock broking rights had been suspended on November 18 because it had been hit by default orders to buy MORE shares.
The Anti-Money Laundering Office and police said major shareholder, Apimuk Bamrungwong, and 24 alleged accomplices, had issued a purchase order for 1.5 billion MORE shares in a supposed move to manipulate share prices. However, they defaulted on the payment, causing severe damage to brokers handling the orders.
AWS has apologised for the inconvenience caused and said it always complied with SEC regulations and would try to solve the issue as soon as possible.
AWS clients can call the SEC 1207 hotline and press 7 to file complaints against the broker or they can e-mail info@sec.or.th.
Amlo freezes THB5.3bn in assets of alleged MORE stock manipulator
TUESDAY, NOVEMBER 22, 2022
The Anti-Money Laundering Office (Amlo) has frozen 5.3 billion baht in assets belonging to the fourth-largest shareholder in More Return Plc (MORE) and his associates over suspicion they manipulated the share price.
Amlo said it froze the assets of Apimuk Bamrungwong and 24 other suspects and is seeking legal action against them over alleged money laundering.
The Stock Exchange of Thailand (SET) last week suspended trading in MORE stock at the request of brokers after a major buyer defaulted on payment for 1.5 billion shares worth 4.4 billion baht.
An investigation then found that Apimuk and 24 of his alleged accomplices had lodged purchase orders with their broker to buy 1.5 billion shares at 2.90 baht on November 10 – after the MORE stock closed at 2.79 baht on November 9.
Amlo took action after receiving the Central Investigation Bureau (CIB) report on the deal dated November 20 (Sunday).
The CIB launched its investigation after representatives of 11 security brokerages met with the Economic Crime Suppression Division on Wednesday, seeking a probe of Apimuk and MORE.
According to the SET, irregularities were spotted on November 10 when trading in MORE stocks rose to more than 7.14 billion baht – the highest in both the SET and MAI (Market for Alternative Investment) – while the share value plummeted from 2.9 baht to 1.95 baht, shocking investors.
Amlo said the 25 suspects have no family connection but their purchase orders shared the same Internet Protocol (IP) address as the IP address of Apimuk.
Amlo alleged that Apimuk and his associates did not really intend to buy the MORE shares but were instead manipulating the share price to profit from the margin.
On Monday, the SET removed the suspension on MORE stock trading, which resulted in the price plummeting another 29.93% to close the day at 0.96 baht. Trade volume in the stock on Monday hit 8.5 million baht.
SET president Pakorn Peetathawatchai said the resumption of trading in MORE stock would not affect the system as the SET has anticipated all possible impacts by running a computer simulation. He said the affected brokers would still be able to conduct their business as normal.
How business schools are gearing up to create future global business leaders
TUESDAY, NOVEMBER 22, 2022
Vitaya Saeng-Aroon
Top-notch local and international business schools gathered in Bangkok recently to examine their responsibilities and future in light of growing pressure to create the next generation of business leaders.
Since the focus nowadays is not just on making profits, but also on caring for people and protecting the planet, we wanted to know how they tackled these challenges.
“I don’t think most of them have the answer. In higher education, there are new challenges. Business managers now go back to school, and they need a new skill set to make societal changes,” said Caryn Beck-Dudley, president and CEO of the Association of Advance Collegiate Schools of Business (AACSB) in an interview with The Nation.
While working as dean of the Leavey School of Businessat Santa Clara University as well as the College of Business at Florida State University and the Jon M Huntsman School of Business at Utah State University, Beck-Dudley identified the persistent demands of enterprises and challenges faced by business schools in producing future leaders.
So what qualities should future leaders have to successfully run businesses?
“Historically, they were taught to make profits. That cannot be the goal anymore. They have to make societal impacts as well. Business leaders should have these new skill sets: compassion, empathy, and depolarisation, which is the ability to deal with conflicts,” she said.
In addition, she said, business schools should collaborate more across disciplines. From her experience and observation, business schools are well behind other disciplines like law, engineering, medicine, and architecture in getting connected to industry.
“It has become apparent, following the pandemic, that we are globally connected. The world has difficult and complex problems. To solve these problems, [we] require a whole bunch of people to work in a whole bunch of ways,” she said.
AACSB is a non-profit organisation, providing quality assurance, business education intelligence, and learning and development services to over 1,850 member organisations and more than 950 accredited business schools worldwide. AACSB’s accreditation processes are ISO 9001:2015 certified.
At the annual two-day Asia Pacific Annual Conference, held recently at Samyan Mitrtown in Bangkok, participants were provided with networking opportunities and stages to discuss a variety of topics, ranging from the classroom in the post-Covid era; application of technology and innovation; integrating diversity, equity, inclusion and belonging; and supporting changes in the faculty’s role, both in terms of research and teaching.
Geoff Perry, executive vice president and Chief Officer: Asia Pacific at AACSB International
“The purpose of the conference is to bring together business schools around Asia-Pacific to share and analyse challenges and trends in business education. We also talked about details around credentials. We support networking,” said Geoff Perry, executive vice president, and chief officer for Asia Pacific at AACSB International.
One challenge for business schools is that the pandemic has accelerated online learning. There are growing concerns about how teachers now engage students in learning, he said.
“Business schools should be more ‘purposeful’ to differentiate themselves and that’s what students are looking for. Students tend to have more interest in companies with a bigger purpose,” he said.
In April 2022, the organisation released an insight report titled “Five Forces Driving the Future of Business Education”. The 25-page paper points out how business schools should adjust to the changing landscape of the market’s demand by lining up five areas of development.
1. Commit to a positive societal impact The new generation of learners is rethinking what business education could – and should – be as customers and employees to push businesses into prioritising their purposes.
While many business schools are enmeshed in structures that impede them from increasing societal impact, they are called to generate good change in the communities they serve. The development of the information, abilities and behaviours necessary for future leaders with societal effect will require educators and administrators to think strategically about how they might generate research with impact.
Suggested action: Encourage the faculty to explicitly address societal effects in their research, teaching and outreach in a way that is consistent with your institution’s mission, values, and impact goals by increasing incentives and success indicators.
A session on AACSB: Asia Pacific Annual Conference: Lessons on Hybrid Pedagogy
2. Embed principles of DEIB (diversity, equity, inclusion, and belonging) into organisational culture and strategic planning Business schools should incorporate DEIB into all aspects of their operations, from faculty hiring to programme development to student enrolment, to fostering inclusive and fair work cultures that advance their goals, values and the communities they serve. To improve standards, business schools should encourage DEIB among their students, teachers, and staff, much as corporations seek workplace diversity.
Suggested action: Examine your strategy for enhancing DEIB by identifying shortcomings or potential improvements. Invite your co-workers to do the same, and after getting input from various stakeholders, create a micro-strategic plan to handle DEIB.
3. Evaluate existing partnerships and create new ones to ensure the business school is solution-driven and relevant to the learner and industry needs To maintain objective alignment and market distinction, business schools must evaluate how collaborations will affect every aspect of the institution, from curriculum development and educational delivery to research and outreach programmes.
Successful partnership necessitates a deliberate strategy, such as prioritising cross-disciplinary cooperation to address difficult problems or utilising education technology providers’ experience to enhance educational delivery.
Suggested action: Analyse present alliances critically, making sure they support strategic objectives. Are you in agreement on concrete initiatives or are you just checking boxes? Check the relationship’s worth versus organisational goals to see if the effort is paying off.
A session on AACSB: Asia Pacific Annual Conference: Transforming the Face of Higher Education Through Innovations.
4. Strategically invest in technology that serves diverse learners’ needs and addresses the educational demands of the future All forms of learning are now accepted, and business schools are required to provide for them. Both online and in-person learning will benefit from technological advancements, for example, immersive platforms to increase distance learners’ engagement or AI-enabled tests to measure each learner’s skill attainment specifically. Business schools will need to catch up with developing technologies, such as decentralised finance, or DeFi, in their curricula and learning experiences as the future ushers in a workforce that is driven by technology.
Suggested action: Examine the learners’ experience for chances to produce more individualised and experiential learning. Keep up with industry best practices as the business IT landscape changes and create curricula that support the future workforce. They may use cutting-edge technologies, such as decentralised finance (DeFi), in their curricula and educational activities.
5. Equip faculty for success as their roles expand to meet new expectations The faculty will need to adjust to technology and hybrid models that are essential to the success of their school in addition to taking on new, demanding duties. Faculty now serve as mentors, facilitators, and counsellors in addition to teaching and conducting their own research, which necessitates that business schools support faculty in a variety of ways, enable the sharing of best practices, and recognise creative online teaching initiatives.
Suggested action: Determine whether faculty members in your institution have the essential skills required to achieve the objectives and deliver results by reviewing their portfolios. If not, think about recruiting a more diverse pool of faculty and determine which areas require more support and training to guarantee effective delivery across a range of delivery modalities.
PTTEP agrees to pay Indonesian seaweed farmers $129 million over 2009 oil spill
MONDAY, NOVEMBER 21, 2022
PTT Exploration and Production Plc (PTTEP)’s subsidiary PTTEP Australasia (PTTEPAA) has come to an out-of-court settlement with Indonesian seaweed farmers and will pay US$129 million in compensation.
The oil spill and subsequent slick took place when the Montara wellhead platform in the Timor Sea had a blowout on August 21, 2009. The leak off the northern coast of Western Australia could only be plugged on November 3 that year, making it one of Australia’s worst oil disasters.
The West Atlas rig is owned by the Norwegian-Bermudan Seadrill and operated by PTTEPAA.
Some 13,000 Indonesian seaweed farmers filed a class action lawsuit against PTTEPAA demanding $200 million in compensation and an Australian court ruled in favour of them on March 19 and October 25 last year. PTTEPAA appealed against the verdicts on December 13, 2021, prompting the court to urge both parties to settle their differences in out-of-court negotiations.
PTTEPAA said the group of farmers has agreed to drop its lawsuit and the settlement does not mean PTTEP Australasia is at fault. It added that details of the settlement cannot be released now because it is still being deliberated in court.
Siam Piwat joins forces in APEC 2022 to drive sustainability to the economy, society, and environment, bringing pride to the Thai nation
FRIDAY, NOVEMBER 18, 2022
Bangkok (November 18, 2022) – Siam Piwat Group is a leading property and retail developer, owner of global destinations including Siam Paragon, Siam Center, and Siam Discovery, and a joint-venture partner of ICONSIAM and Siam Premium Outlets Bangkok.
As an Official Communication Partner of the 2022 Asia-Pacific Economic Cooperation Summit (APEC 2022), Siam Piwat is joining forces to welcome delegates from 21 economies members and members of the press around the world. The partnership is a great opportunity for Siam Piwat to support the Thai government and be a part to reaffirm confidence towards Thailand, which pave ways to increasing investment and business opportunities, especially in tourism and hospitality businesses.
To welcome delegates from around the world, Siam Piwat is showcasing its business approach to sustainability at APEC Showcase Green Press Center, Queen Sirikit National Convention Center from November 14-19, 2022. Through the concepts “the Universe of Value,” “Shared Value,” and “Co-creation,” Siam Piwat has delivered experience beyond expectations both on physical and digital platforms, creating an ecosystem to achieve mutual success as part of its “Collaboration to Win” strategy and fostering sustainable value in every process and business operation to create mutual growth for the people, the environment, and economy.
Within the APEC Showcase Green Press Center, Siam Piwat’s showcase’s most prominent feature is a golden woven structure reminiscent of APEC’s Chalom logo, or a woven bamboo basket with the information displayed on a large 360o digital screen recounting the achievements and successes of Siam Piwat over the past 63 years as a developer of world-class destinations that have accomplished a global top-of-mind position among the public, customers, and business partners. The booth also delineates Siam Piwat’s business philosophy in fostering mutual growth sustainably in line with APEC 2022’s main theme “Open. Connect. Balance.”
Siam Piwat’ s booth also features demonstrations of Thai handicrafts from ICONCRAFT and Sook Siam that reflect the Thai identity. Held in collaboration with communities and various sectors, featuring different Thai arts and craft each day.
On November 16, 2022, ICONSIAM was honored to co-host and be the venue for the Welcome Reception for the APEC CEO Summit Thailand 2022. Attendees discovered the impressive experience where the river-front River Park area was transformed into a courtyard with Traditional Thai dance performance and puppet theatre show which is a cherished cultural heritage of Siam. Participants also enjoyed the taste of traditional delicacies from four regions of Thailand, emphasizing food as one of the country’s key ‘soft power.’ Featured also were Thai Arts and crafts demonstrations.
On November 17, 2022, Siam Paragon was chosen as the venue for Gala Dinner, to show appreciation for over 1,000 delegates of APEC CEO Summit Thailand 2022. A special evening was held at Royal Paragon, 5th floor, Siam Paragon, which was beautifully designed as a banquet venue under the theme of “Connect the World.” The participants were greeted by performers of Khon which is a national performing art heritage. Showcased also were traditional Thai arts and crafts such as exquisite fruit carving, garland making, khon mask panting, potpourri making. The delegates also enjoyed the taste of authentic Thai food and magnificent performances.
Hosting APEC 2022 is an important agenda of Thailand and Siam Piwat Group is proud to be a part of this major event, presenting Thai identities to the world, delivering great impression and marking Thailand as a global destination – a must-visit and top-of-mind destination for people all over the world.
With “Above the Ocean” strategy, Siam Piwat is rising above all changes and moving forward with stability and sustainability
THURSDAY, NOVEMBER 17, 2022
Throughout over 63 years of business in Thailand, Siam Piwat has overcome all sorts of crises especially at Siam – the fiercest battlefield of commerce and much more.
Siam Piwat has been able to lead its partners and retailers out of each plight through the years. Even during the COVID-19 pandemic, in which it was no less impacted than any other business, the Company parlayed the extensive experience it had amassed over the years into a toolset that enabled it to triumph over the crisis with grace.
While steering a business through hardships is already in a challenge for an executive in and of itself, changing the game to future-proof the business is an even bigger challenge. Yet, Siam Piwat Group’s chief Chadatip Chutrakul has proven herself as a leader time and again, having helped the business swiftly regain profitability when hit by a crisis, including the recent COVID-19 pandemic.
Ms. Chadatip Chutrakul, Chief Executive Officer of Siam Piwat Group, a leading real estate and retail developer, the owner and operator of world-renowned properties, such as Siam Paragon, Siam Center, and Siam Discovery, and a joint venture partner of ICONSIAM and Siam Premium Outlets Bangkok, said that the COVID crisis has been a great learning experience. Thanks to the experience it has gained from previous crises, coupled with a decisive move to quickly restructure the organization, Siam Piwat has been able not only to cope with the challenge but also generate more revenue in the first nine months of 2022 than in the same period of 2019, pre-COVID level despite the absence of foreign tourists.
Through the years, Siam Piwat’s mission is not to be the number one in terms of the number of shopping centers or the largest market share in terms of area. Rather, Siam Piwat adopts a four-pronged Top-of-Mind strategy to ensure its resilience. The strategy consists of the following:
1. Top-of-mind among people: Siam Piwat seeks to establish top-of-mind awareness not only among Thai people but across the world. This goal is well within reach as Siam Paragon is the sixth most checked-in place in the world on Facebook and the world’s most checked-in location on Instagram, not to mention that all Siam Piwat’s shopping centers have been voted by tourists in various countries as their favorite destinations.
2. Top-of-mind among retailers: Siam Piwat is committed to its duty of ensuring the continuous success of ten thousand retailers across its shopping centers. As a testament, Siam Piwat has successfully generated astounding foot traffic, bringing in over 100 million visitors per year, more than 25 million of whom are tourists. Thanks to this, many brands with branches in Siam Piwat’s properties have achieved the country’s top sales, while international brands have similarly been able to push their sales into the world’s top 10.
3. Top-of-mind among business partners: Siam Piwat’s shopping centers not only sell products but also serve as a branding platform. Through the years, Siam Piwat has fostered relationships with various partners and joined hand with both government agencies and private sector to develop new business models to co-create and deliver to customers experiences beyond expectations.
4. Top-of-mind in the world: As shopping centers serve as magnets that strengthen Thailand’s position as a shopping paradise and its ability to attract visitors from across the globe, Siam Piwat strives to build properties that can rival other major projects around the world in order to earn acceptance across the global shopping mall business and curate a positive reputation for Thailand. Siam Piwat’s shopping centers have won over 40 top awards across various categories from world-class organizations – a phenomenal achievement thus far unattained by any other shopping center in Thailand or Asia.
“We do not have shopping centers in different provinces or nationwide; we have only four shopping malls and one luxury outlet mall, but all of them have been named winners at a global level by various world-class organizations and associations for, among others, innovation and design, revolutionizing the retail industry, marketing and generating world-class experiences, best support for SMEs, green leadership, sustainable development, and developing the world’s most desired destinations. All of these awards underline Thai people’s capacity, and today, many shopping center developers from different countries are seeking to come and learn from us.”
“Our business goal is not just profit. We seek to build relationships with retailers and partners that transcend time. A life reward for our employees is getting to create a second home for our customers and fulfilling their wishes and experiences to the best of our ability in every situation as well as creating a platform that fosters success for our retailers and partners. Thanks to these strategies and missions, we have been able to grow our sales by five times over the past seven years and increased the number of our subsidiaries from 32 to 48. Even amid the COVID-19 pandemic, we were able to launch Siam Premium Outlets Bangkok, Thailand’s first-ever luxury outlet mall, in mid-2021 and successfully developed a new digital platform ONESIAM SuperApp in only 13 months,” said Ms. Chadatip Chutrakul.
While many organizations are still grappling with post-covid challenges, Siam Piwat has already drawn up new strategies.
Siam Piwat’s CEO added that 10 years ago, the company foresaw a possible disruption from digital evolution and thus began to shift its strategies for every shopping center towards creating value, developing fresh experiences that would speak to people, and fostering emotional engagement through emotional marketing. Siam Piwat also initiated a digital transformation internally as well as completed its data bank development in early 2022. Thanks to these efforts, the company was well-equipped to handle the COVID-19 pandemic and able to quickly develop a digital platform to serve its customers. Moving forward, Siam Piwat is looking to change the game with the concept Rise Above and Beyond, where it creates new strategies that will enable it to rise beyond all of its previous achievements, rise above all changes in the world, positive or otherwise, and ultimately rise above all challenges.
Siam Piwat’s next step is to shift from the Blue Ocean Strategy to the Above the Ocean Strategy, where it rises above all changes, takes a step back and views the business in a new context, tears down all old limitations, and innovates new things from its existing value without any limitations. Under this new strategy, Siam Piwat will operate without competitors and work hand in hand with partners to build an ecosystem to amplify its success and sustainability and create a world without frontiers filled with opportunities in every dimension.
Siam Piwat’s next move under the Above the Ocean Strategy is to expand its value creation initiatives into a universe of value by:
1. Creating a sharing economy through ONESIAM SuperApp and VIZ COINS
2. Co-creating experiences beyond expectations both through physical and digital platforms to expand the offerings and cater to global citizens
3. Collaborating to win by creating an ecosystem of success in collaboration with existing 50 partners across 13 industries
4. Fostering sustainable value in every process to create mutual growth for all involved, as well as the public, the environment, and economy; redefining and pioneering new businesses whether in the form of products, services, or platforms to create access to a better quality of life without leaving anyone behind; as well as contributing to restoring the environment and passing on a better world to posterity.
“Siam Piwat’s Above the Ocean Strategy will enable us to foster mutual growth sustainable with every sector, create a positive net impact for the public and the environment, and play a part in helping Thailand achieve greatness on the global stage,” concluded Chadatip.
Siam Piwat reinforces the center of ‘Luxury Destination’ in Asia, creating a world-class experience to unveil a lineup of new luxury pop-up stores for the first time
WEDNESDAY, NOVEMBER 16, 2022
Siam Piwat Co., Ltd., a leading property and retail developer – the owner and operator of global destinations including Siam Paragon, Siam Center, and Siam Discovery, and a joint venture partner of ICONSIAM and Siam Premium Outlets Bangkok, is delivering an ultimate experience with an exciting lineup of world-class luxury brands joining hands to debut their latest pop-up stores, new retail concepts and exclusive collections, for the first time in Southeast Asia and even make their Asia’s premier at Siam Paragon and ICONSIAM.
Being the most prestigious locations and the ultimate luxury destination shows the confidence of major global high-end brands in Siam Piwat’s and underlines the company’s strength as the leader that hold Thailand’s largest high-purchasing customer base as well as emphasize the company’s mission to never stop delivering the ‘ultimate world-class experience.
Mrs. Thanaporn Tantiyanon, Head of Business Unit, Siam Paragon said, “Being ‘The Visionary Icon,’ Siam Piwat’s has always thrived for excellence while maintaining its highest standards in the business. We also integrate the power of ‘Co-Creation’ with alliances, business partners and brands to deliver unparalleled experiences in every dimension. We have been customers’ top-of-mind and attracts locals and international travelers from all over the world.”
“Siam Paragon is a prestige world-class shopping center in the heart of Bangkok and ICONSIAM is an iconic global landmark by the Chao Phraya River, both are an unparallel wealth of lifestyle offerings, bringing the best of luxury shopping and entertainment phenomena that caters to premium lifestyles. Importantly, both properties are key platforms for retailers, from global designer brands to Thai entrepreneurs to present their best offers. The luxury sections have been tremendously well received and have generated high sales and seen remarkable growth that rank among the top in the world, underlying both Siam Paragon and ICONSIAM as true luxury destinations. Renowned high-end brands have specifically chosen Siam Paragon and ICONSIAM to be their exclusive locations for their special pop-up stores to debut their exclusive and limited collections. These special pop-ups are definitely the ultimate and unique experience and a key magnet that attracts affluent customers.”
This festive season of 2022, myriad of luxury brands will showcase exciting lineups of their Thailand’s first pop-up stores as well as exclusive collections, marking Southeast Asia premier or event Asia’s debut. Siam Paragon will feature special pop ups like Balenciaga x Adidas, Burberry x Minecraft, FENDI 25th Baguette Anniversary, Looney Tunes x MCM, Montblanc, etc.
Meanwhile, ICONSIAM, a world-class landmark on the Chao Phraya River, will be presenting a unique luxury experiences from top-notch brands such as Bottega Veneta, Burberry Lola, BVLGARI Serpenti Light Up, Hermès petit h, etc.
These reflects the strength of Siam Piwat as the leader in attaining the highest purchasing power group of customers in Thailand and never cease to deliver exceptional and unparalleled experiences. It is customers’ top-of-mind and marks it as a leading attraction for local and visitors from around the world and has won numerous prestigious international awards.
RADISSON HOTEL GROUP GETS READY TO BECOME TRAVELLERS’ FIRST CHOICE GLOBALLY
WEDNESDAY, NOVEMBER 16, 2022
Radisson Hotel Group (RHG) unveiled ambitious plans earlier in the year to rapidly expand its portfolio across the Asia Pacific region by 2025, ensuring it not only remains amongst the top three hospitality companies in the world, but also moves towards becoming the first choice for travellers.
The announcement comes at a critical juncture in the Asia-Pacific tourism industry’s recovery from the pandemic.
“As recovery gets underway, we intend to be the hotel brand of choice for employees, guests and owners with a diverse portfolio of exceptional hotels and resorts. Our nine distinct brands are designed to meet the needs of different travellers and budget levels,” David Nguyen, Managing Director of Radisson Hotel Group (RHG)’s Indochina and Strategic Partnerships, Southeast Asia & Pacific said.
Despite RHG’s strong position, the Group aspires to be at the forefront of travellers’ minds when they travel by emphasising diversity in serving customers, a supportive environment for employees, and agility in operations for owners.
Nguyen stated that Radisson Hotel Group has a clearly defined brand architecture, offering nine distinct brands ranging from luxury to mid-scale, in order to cater to travellers worldwide. With this brand architecture, the group can cater to a variety of travellers, which is especially important given the current economic climate.
“Furthermore, each of RHG’s brands has its own distinct design and experiences tailored to serve all types of travellers, ranging from business to leisure and everything in between,” Nguyen added.
RHG’s nine brands include Radisson Collection, Radisson Blu, Park Plaza, Radisson RED, Radisson, Park Inn by Radisson, Country Inn & Suites by Radisson, Prizeotel and Radisson Individuals, which was launched in 2020.
Nguyen commented that Radisson Individuals gives hotel owners an opportunity to plug their properties into RHG’s marketing and distributions systems, and leverage its loyalty program – Radisson Rewards.
“During the pandemic, many hotel owners were looking for ways to recover, Radisson Individuals is an upscale brand that can help recovery through greater flexibility, cost-effectiveness and minimal downtime,” Nguyen said.
He added that RHG’s brands are offered with the right business model in mind, at the right location, for the right partner. The aim is to provide tailor-made solutions with owners in mind.
He pointed out that RHG’s nine distinct brands will play a key role in helping the company expand its scale. The group will also capitalize on its partnership with shareholder Jin Jiang International and its affiliates to accelerate its expansion. He explained that being part of Jin Jiang, the world’s second-largest hotel group, allows Radisson to focus on delivering its core vision with a clear plan in leveraging and supporting those nine distinct brands in each market.
In addition to expanding RHG’s portfolio, Nguyen said the group also places high value on its employees and their development.
The hospitality industry is heavily reliant on the workforce to deliver great experiences to guests, he said. Hence, it is RHG’s goal to help employees upskill or reskill based on their potential, in order to encourage their development and continued growth within the business.
He stated that becoming the employer of choice and growing employees’ potential have always been part of RHG’s culture and goals. For instance, he said, the group gives team members the opportunity for mobility and job rotation.
“Investing in our employees, meeting their needs and allowing them to grow, whether through training or practical work is our aim. We also ensure our employees are recognized for the work they do,” Nguyen confirmed.
RHG’s distinctiveness, according to Nguyen, goes beyond its focus on employees and guests, but also through its adaptable business model. The Group is looking to grow through various models including, mergers and acquisitions and strategic partnerships.
RHG’s top priority is to pay close attention to its three principal facets, namely hotel guests, owners, and employees.
According to Nguyen, RHG has consistently understood when and how to support its stakeholders, because they genuinely listen to them.
“We have established a local business unit in Thailand to support all our key stakeholders and provide above par operations. We have also made investments worldwide in digitizing the guest experience. Our investment of more than 150 million euros in technology and transformation allows us to deliver the uniqueness that customers are looking for in the foreseeable future,” Nguyen said.
To sustain its growth, RHG has committed to a five-year transformation plan that includes best-in-class technology and integrated solutions to maximise revenue across the group’s hotels and deliver the industry’s best GOP.
Meanwhile, Nguyen said the hospitality industry faces various crisis and challenges. “High inflation, a slowing economy, and geopolitical tensions are all possibilities. As a global hospitality company, we are no strangers to such challenges and have navigated through them successfully. Travel continues to be a mainstay, though travellers’ needs and demands may change and we are confident in delivering on these with our portfolio of brands,” Nguyen elaborated.
With over 75 years of hospitality experience, RHG is committed to serve every guest, grow its employees and a value-add to its owners through their strategic plan. Nguyen believes RHG will maintain its position as the world’s top three hospitality companies.
Maintain focusing on Thai market
Moreover, he is also committed to prioritising the Thai tourism industry because the country’s vast diversity of attractions is one of its core strengths. Nguyen believes its resilience as a market gives RHG and its brands a strong opportunity to grow.
According to the Bank of Thailand (BOT), the country should see 10 million foreign tourists this year and 19 million in 2023. Nguyen noted that this is a positive sign of recovery because the expected number is nearly 60 per cent of pre-pandemic levels.
“In Thailand, we target to double our current portfolio within the next 18 months. That progress is on track. Our plan has also accounted for the rebound of travel and tourism from China that is expected to resume in the near future,” he said.
Radisson is now one of the world’s largest and most dynamic hotel groups, having been named Forbes’ fourth Best Employer in the Travel & Leisure Industry for the second consecutive year. There are over 1,700 hotels in operation or in development around the world.
Geoff Perry, executive vice president and Chief Officer: Asia Pacific at AACSB International
A session on AACSB: Asia Pacific Annual Conference: Lessons on Hybrid Pedagogy
A session on AACSB: Asia Pacific Annual Conference: Transforming the Face of Higher Education Through Innovations.
SootinClaimon.Com 