What: Despite a lack of tourists in Thailand, Siam Piwat reports surging sales.

Why is it important: Siam Piwat says sales at its part-owned IconSiam flagship in Bangkok soared 43% in the final quarter of last year, the strongest growth in the three years since the centre opened, as the impact of Covid-related movement restrictions eased.

Sales of luxury brands “skyrocketed” during the past two years after several high-profile brands increased their store space or partnered with Siam Piwat in pop-ups.

Their “OneSiam SuperApp” that launched in late 2021 helped drive sales from registered members by more than 45% year on year. The app connects with more than 1,000 tenant stores and 100 business partners across 13 industries.

Siam Piwat says it aims to boost sales to member customers by 30% this year.

Siam Piwat’s sales surge amid Covid