Founding Partner & CEO of DEA Real Estate Advisor

Luca de Ambrosis Ortigara Founding Partner & Ceo of DEA Real Estate Advisor

toP locations in central areas are gaining more and more imPortance

The changes in the post-Covid retail landscape, compared to the pre-Covid one, are evident. The inevitable, strong development of the e-commerce channel, due to the various lockdowns, has led to an exponential evolution of the sector in terms of omnichannel retailing, further accentuating the crisis of physical retail which is now forced to adapt to the new paradigms. How? First of all, by focusing on experiential spaces capable of engaging the 5 senses, arousing multiple emotions and thus creating the wow factor, which induces the consumer to remember the experience and want to relive it. All this is evidently possible through direct contact with consumers that can only take place in to create an unforgettable shopping experience. Clearly, to create an all-round immersive experience, the physical and digital shop must travel hand in hand to the point where the virtual world of the Metaverse is also involved. Furthermore, in order to guarantee a unique customer journey, which can start online and end offline and vice versa, technological integration and perhaps contamination with other spheres becomes indispensable. For example, not only with the restaurant or art sector, but as it has just been seen in Paris, in a new luxury flagship store, with the sphere of exclusive hospitality, even offering the opportunity to sleep in a suite within the shop. Spaces of this kind clearly go well beyond the purely commercial aspect, but fundamentally bet on the concept of experience and, indeed, of experientiality. Consequently, at the level of values and evaluations, top locations in central areas are becoming increasingly importan

«physical retail must fOcus first and fOremOst On experiential spaces in tOp lOcatiOns, which engage the 5 senses, arOuse strOng emOtiOns and thus create the wOw factOr»

physical spaces. For example, we are managing the project of the historic Odeon cinema in Milan, which will be transformed into a unique retail destination. A true showcase to the world, in the historic centre of Milan, one of the busiest, most prestigious locations in Europe. In this case the iconic environments, designed to amaze and enchant, will be enhanced with a flexible and open layout t, and the gap with those in secondary areas, which are decidedly penalised, is widening. It is no coincidence that via Montenapoleone in Milan is increasingly expensive, just as the iconic Galleria Vittorio Emanuele is in high demand. At the same time, important renovation projects, such as that of Hines in Via Spiga or, indeed, of Odeon Milano confer further, inestimable added value. Finally,

▲San Marino Outlet Experience ►Rendering of Cinema Odeon, Milan

DEA Real Estate Advisor

the multichannel retail evolution inevitably involves all the sales channels: from online to offline, and the outlets too. Because a brand must now ensure the same kind of experience in all its touch points, regardless of where they are located. A clear example of this is the San Marino Outlet Experience, developed by a partnership comprising, in addition to us, Aedes SIIQ, Gruppo Borletti and VLG Capital. The centre – spanning about 17,000 m2 with 75 shops to which about 25,000 m2 will be added in phase 2 for a total of 130 shops – is in fact characterised by an architectural footprint of great impact. And it houses luxury and premium brands such as Prada, Dolce & Gabbana, Roberto Cavalli, Moorer, Monnalisa, Paul & Shark, The North Face and Moose Knuckles. •