BANGKOK – As Southeast Asia emerges as a bright horizon for luxury goods, what is the key for Western brands to successfully tap into this market?
Speaking at the inaugural WWD x Siam Piwat Global Fashion Spotlight in Bangkok, Emmanuel Kuakou, Piaget Managing Director for Southeast Asia and Oceania, said: Roberta Peracci, Vice President of Marketing and Communications, Bvlgari Japan. Subadi Punboonpra and Orlando Puipunthavon, co-founders of Thailand-based luxury brand distributor PP Group, will be joined by Jim Fallon, chief content officer of WWD and Fairchild Media Group. We discussed how to leverage local influencers, ambassadors, and cultural bridges.
“I have to say that we have witnessed that change over the past 21 years.Personally, I believe that the change in the Southeast Asian consumer is no different from the change in the consumer in other parts of the world. ” PP Group Chief Executive Officer Poombunpura said:
The previous definition of luxury as a pursuit for the happy and wealthy few has been replaced by a broader definition.
According to Piaget executives, consumers are now taking a “multifaceted approach to luxury goods,” combining personal experiences that are true to themselves and their cultural heritage, as well as long-term It all comes down to the desire for brand relationships.
“Our consumers are younger, smarter, and stay young for much longer,” said Poombunpura. No longer satisfied with one vision of luxury, this group tends to define their own sense of luxury, prioritizing experiences over material possessions and quality and authenticity over marketing. .
Jewelry brands such as Piaget and Bvlgari have also witnessed this movement. “There’s more sophistication, and (consumers) are appreciating luxury in many dimensions,” Kouakou said. “And they are even more eager to know more and ask questions.”
Bvlgari’s Perazzi agreed, pointing out the importance of “talking honestly about the brand and staying true to its history and respect for consumers.”
Take a look at the Serpenti collection. A “universal symbol of wisdom, transformation, and eternal rebirth,” the snake is also a symbol of protection in Thailand.
“We find the bridge between what truly represents the brand, its heritage and culture, and what truly evokes an emotional attachment in the country itself,” she said.
Within Southeast Asia, Thailand is now the regional king, rivaling Singapore as a shopping and luxury goods hub.
According to research firm Statista, not only will Thailand’s luxury goods revenue reach $4.6 billion in 2023, but its compound annual growth rate will outpace that of Singapore.
Moreover, Thai stars attract enthusiastic crowds every time they appear at fashion shows.
According to Lefty, Natawin “Apo” Watanagitifat’s appearance at Dior’s Spring 2025 show had an earned media value (EMV) of $14.2 million, as did Kylie Jenner at Paris Fashion Week. He is said to be the third most influential person after Jisoo. .io.
“Thailand is really influential,” said PP chief operating officer Puipunthabon. “The right (face) can really give a brand visibility to a new audience… (and) help consumers in the market understand what the brand image is from (their) perspective. It will help you understand.”
“The most exciting aspect of Lisa (Manobar) besides its importance is that she becomes a symbol of a global phenomenon (not just in) Thailand but beyond Thailand,” said Bvlgari’s Peracchi. “It’s great to see (talents) in this market really exporting their celebrity power on a global level.”
In addition to Manobar, the Roman jeweler also counts Davika Hoorn and Pakpoom “Miles” Romsitung among his friends. “All of this has gone far beyond local significance to global impact for everyone across generations,” the executive added.
The results speak for themselves.
For Piaget, the addition of Apo Natawin as a friend of the brand, following last year’s opening in the Siam Paragon luxury mall, resulted in more than 20 million impressions and more than 8 million engagements. The actor was then appointed as one of the brand’s global ambassadors in April.
“It was really impressive to see him have a global influence beyond Thailand and the region, and also within our corporate headquarters (internally),” Kouakou said, adding that the community response and brand association He added that he was impressed when he saw the sex.
One of the challenges for European housing is to keep traditions up to date and attractive to a new generation of consumers.
“For me, it’s two clear points,” Koakou said. “Maisons need to have a clear foundation[and]tradition, but they also need to listen to their clients and understand how the world is evolving.” Piaget executives believe that this agility and He said that a clear direction is a characteristic of major maisons.
“Brand rejuvenation is always a very interesting and hot topic for all heritage brands,” Perazzi said.
A successful strategy goes beyond launching products that appeal to today’s consumers, as exemplified by the recent launch of the Tubogas series, which takes inspiration from 1950s designs, marketing campaigns, and even brand ambassadors. there is no. It also aims to create a relevant in-store experience, especially as luxury consumers become younger.
“If you look at consumers right now here in Thailand and around the world, they are young, modern and have purchasing power. So we need to talk across generations,” she said.
To avoid a loss of identity, brands need only ask themselves whether their decisions are true to their DNA, the intentions of their founders, and whether their moves are going too far. “If you can answer these questions, I don’t think you’re wrong,” Peracci said.
After all, it’s not diamonds, gold, or luxury materials that make a luxury brand valuable.
For PP Group’s Puipunthavon, whether it’s an ancient craft or a well-thought-out product, “the story behind the product is important.”
“Luxury doesn’t have to mean tradition,” he continued. “It’s about how the consumer feels about the brand and whether they feel pride when using the brand. And I think luxury is becoming more personal now.”
Take Ami Paris, for example, which entered the Thai market with the opening of its first boutique in May and opened a pop-up and cafe in the luxurious halls of Siam Paragon for six months.
PP Group executives said that bringing a new brand to the market was not a rash decision. According to Puipuntavong, substance, especially quality and brand authenticity, and potential are the first two criteria.
“And ultimately, I think it comes down to choosing brands that can talk to new customers without cannibalizing them,” he continued. “Right now, the consumer pool for luxury goods is expanding, and at the same time the definition of luxury is expanding. I’m going to choose a brand that will.
