Mapic 2016 news 2 by RX REAL ESTATE SHOWS

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Thursday 17 November 2016

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www.mapic.com

OPEN FOR BUSINESS

The largest mall in the Netherlands MAPIC welcomed delegates from around the world, with the Women Networking Cocktail one of the early business events

INDIAN EXPANSION

MAPIC widened its global footprint as director Nathalie Depetro announced the acquisition of India Retail Forum

KLEPIERRE

New chief Jean-Marc Jestin outlined his plans to optimise the developer’s pan-European shopping-centre portfolio

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CONTENTS

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NEWS 4 Klepierre; India Retail Forum Powered by MAPIC; Trends Hub; Italian opportunities; Apsys; Kiabi; Uplace Brussels; and more...

FEATURES 36 Shopping isn’t what it used to be 38 Retail targets the high flyers

e Schedulce

Delegates enjoy an opportunity to network at The USA Happy Hour in the USA Pavilion

ren Confe me a r prog m P20

470

new brands

8,300 delegates

French fashion retailer Kiabi created a technology-packed store in the Gare Maritime showcasing its range of innovative ideas to engage consumers and also setting out its ambitions to expand around the world.

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The official MAPIC daily newspaper Thursday 17 November 2016

Director of Publications Paul Zilk Director of Communication Mike Williams EDITORIAL DEPARTMENT Editor in Chief Mark Faithfull News Editor Graham Parker Sub Editors Julian Newby, Joanna Stephens Proof Reader Debbie Lincoln Reporters Ben Cooper, Liz Morrell, John Ryan Head of Graphic Studio Herve Traisnel Graphic Studio Manager Frederic Beauseigneur Graphic Designer Carole Peres Head of Photographers Yann Coatsaliou / 360 Media Photographer Michel Johner Editorial Management Boutique Editions PRODUCTION DEPARTMENT Publishing Director Martin Screpel Publishing Manager Amrane Lamiri ADVERTISING CONTACT IN CANNES Daniela Jakovljevic +33 7 77 69 34 42 daniela.jakovljevic@reedmidem.com Reed MIDEM, a joint stock company (SAS), with a capital of €310.000, 662 003 557 R.C.S. NANTERRE, having offices located at 27-33 Quai Alphonse Le Gallo - 92100 BOULOGNEBILLANCOURT (FRANCE), VAT number FR91 662 003 557. Contents © 2016, Reed MIDEM Market Publications. Publication registered 4th quarter 2016.

NEWS Asset allocation, collaboration and digital top Jestin’s agenda

Blinerie offers MAPIC delegates a taste of its wares

BLINERIE DISHES UP NEW FOOD CONCEPT CREPE and pancake business Blinerie is serving up delicious treats this week to promote its wares ahead of its move into Europe. The Russian company is planning to open between 10 to 15 units in the UK, followed by more in Europe. Although Blinerie is serving up from a mobile unit at MAPIC, its stores will be fixedsite restaurants. “This is a brand new concept for the European market that is not like normal crepe restaurants,” said company president Arthur Tovmasyan. Instead, the offer includes pancakes and crepes with international fillings from all over the world. “We are taking inspiration from all types of food to create a whole new sector in food,” added creative director David Cole. The company, which has 200 outlets in Russia, already has offers on the table for its first site in London and is looking to partner with shopping centres for space of between 50-200 sq m in the UK and beyond.

AN-EUROPEAN shopping-centre developer Klepierre is to focus on asset allocation, retailer collaboration and aligning its malls for the digital age as it continues to evolve its real estate portfolio, according to Jean-Marc Jestin, the recently appointed chairman of the executive board, who succeeded Laurent Morel earlier this month. In a wide-ranging interview, Jestin, previously Klepierre’s chief operating officer, said that working closely with key retail clients across the company’s shopping centres was pivotal to the ongoing success of the business. “In a digital age, we need to work with the major retail chains to understand what they need and how they optimise their store estate and their store formats across our shopping centres,” he said. “We understand that they are facing challenges in what is still quite a difficult environment in Europe, and it is only by listening to them and working with them to make the best of their stores that we can build a sustainable future.” Jestin is confident that stores will remain important to multichannel retailers. He said that Klepierre remained committed to opening and managing a range of shopping-centre sizes, rather than simply focusing on the largest malls. He added that

Klepierre’s Jean-Marc Jestin: “It’s about recognising what’s the best fit”

“right sizing” shopping centres for their catchments was more important than scale. “Of course you have the very large, destination shopping centres, which include more leisure, more F&B and more facilities such as click-and-collect,” he said. “But we also have mediumsized centres in smaller cities, which perform ideally for those locations. It’s about recognising what’s the best fit for a given city and demographic.” Klepierre currently has several large schemes under way, including the extension of the Val d’Europe shopping centre in Paris, which is undergoing a 17,000 sq m extension and is due to open

in October next year. The company is also developing Prado in Marseille, which is due to open at the end of 2017 or early 2018. The 23,000 sq m shopping centre, anchored by Galeries Lafayette, will include 50 stores, a food court and six restaurants. The largest project is Hoog Catharijne, which is being completely renovated and expanded to create a 100,000 sq m retail destination in the Dutch city of Utrecht. On completion, it will be the largest shopping centre in the Netherlands. “This is already a hugely successful scheme, but we expect it to have a value in excess of €1bn by the time it is finished,” Jestin said.

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HIGHLIGHTS

Day 1 of MAPIC saw a major announcement, while ret ailers, investors and developers came to Cannes from all corners of the world The Palais des Festivals

Walking the pink carpet

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EED Exhibitions used the opening day of MAPIC to announce the acquisition of retail real estate event India Retail Forum (IRF) and its satellite events, the Shopping Centre Forum and the Regional Retail Forums. This deal signifies a commitment from MAPIC to the Indian market and to continue to grow and develop leading retail real estate events around the globe. IRF will join a growing portfolio of retail property events in France, Italy, China and Russia operated by Reed Exhibitions and will be renamed IRF Powered by MAPIC. IRF will continue to be managed under the leadership of Amitabh Taneja, founder of IRF, who will join Reed Exhibitions, continuing his role by directing IRF events as chief convener in India. Speaking ahead of a session on Asian opportunities at MAPIC, director Nathalie Depetro said of the move: “This signifies a very strong message that we are building a bridge between investors and Indian retailing. India is obviously one of the world’s most promising markets and this represents the true internationalisation of the opportunity, bringing the strength of the MAPIC brand, global investors and retailers to India.” Taneja, CEO of Images Multime-

Packed aisles...

IRF Powered by MAPIC’s Amitabh Taneja with MAPIC’s Nathalie Depetro

dia Group, told MAPIC News: “IRF has been the premier meeting place for the retail real estate sector in India for more than a decade and is instrumental in driving growth in the sector. Indian retail is still evolving but with a growing middle class there is a huge opportunity to access the increasing spending power and we believe that coming together with MAPIC provides a platform to access the market.”

Launched in 2003, IRF has become the leading networking platform for India’s vast retail industry and the next event will be held on September 19-20 in Mumbai. The event includes a conference, workshops, zoned exhibitions and the annual Images Retail Awards ceremony. In 2015, IRF added the India Omnichannel Forum, a concurrent event focusing on the digitisation of retail.

Stylish stands...

WORK continues on the transformation of London’s Kings Cross into a retail, leisure and cultural destination. The latest major tenant in the scheme is Nike which has trialled a world first, a Nike “neighbourhood” store, on the newly completed Kings Boulevard. The store is an outlet centre/flagship store hybrid that will put a more local face to the sports brand’s retail proposition. Kings Boulevard consists of eight shops spread across 4,645 sq m, but the real showstopper will be Coal Drops Yard, when it is completed in 2018. Designed by Heatherwick Studios and covering 9,290 sq m that will offer space for up to 65 shops, Coal Drops Yard will include art, leisure and retail in a Grade II listed structure over part of which will be a curving canopy. Craig White, retail project director at developer Argent, said that what is being done is a one-off: “We haven’t cut and pasted anything from anywhere else,” he said.

And supermodels

Kings Boulevard

Photo: ©www.mir.no

MAPIC announces acquisition of Indian real-estate events

KINGS CROSS ADDS INNOVATIVE RETAIL CONCEPTS

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NEWS ONLINE SHOPPING IS FAVOURITE WITH BRITS AND SENIORS ONLINE shopping has been adopted more readily in Britain than in other markets, according to new research from Colliers International. The UK is the largest European e-commerce market with sales of £130bn (€151bn) annually. And British seniors are among the most technically minded consumers in the world with 78% of internet users over 65 now shopping online. However, Colliers found other countries have been slower to move their shopping online. Italians are among the least technically minded shoppers in Western Europe. Only 68% have access to the internet and just 26% are shopping online. Paul Souber, Colliers’ head of EMEA retail, said: “In a globalised age, it can be natural to think that shopping is becoming an increasingly homogenised process. However, these patterns have important ramifications. While online retailing has curtailed some retailers’ appetite for expanding their store networks, it can also generate demand for property as what were once purely online brands open physical stores and where logistics facilities are needed to support the fulfilment of online orders.”

Talking shop

Trends Hub gives delegates a look into the future of retail

The MAPIC Trends Hub, a location to showcase retail innovations

HE TRENDS Hub, a new departure for MAPIC, is a hotbed of the latest ideas currently being implemented in shopping centres and high streets around the world. In practice this means a range of projects designed to capture and maintain the attention of shoppers and those charged with the creation and delivery of new retail schemes. For those looking to understand what a new mall might look and feel like, the departure point might be a virtual fly-through, courtesy of the architects who are creating the space. US-based company Trimble offers those in the mood a headset that takes them into a world where they can explore a scheme virtually, right down to the ducting and pipework that will be involved. It is, in effect, a vehicle enabling

in-mall possibilities to be experienced without the expense of physical model-building. Once a centre is complete however, there is the matter of shopper navigation. Currently, most malls offer some form of kiosk that permits shoppers to locate retailers in a shopping centre and to offer directions on how to get there. An alternative however is to put a robot to work. Soft Bank Robotics attracted crowds with a pair of robots that it is claimed will not only be able to tell customers where a shop might be, but also to take them to it. For something less obtrusive however, shoppers can download an app that uses mapping software from Grenoble-headquartered Visioglobe. This offers a plan of a shopping centre on which the user appears as a dot, enabling straightforward way-

finding. It is already installed in all Unibail-Rodamco centres. Shopping, of course, must also be entertaining and perhaps the most engaging exhibit from this perspective is that of French underwear retailer Undiz. This consists of a system that allows shoppers to interact with in-store terminals that then bring the stock to the shopper via a series of overhead transparent tubes. The system is in place in the Undiz store on Paris’ Rue de Rivoli. Trends may be notoriously hard to tie down, but the Trends Hub does afford MAPIC visitors the opportunity to consider in-store and mall innovations that most developers and mall-owners have yet to see.

Through the keyhole

Busy agendas

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NEWS A RETURN TO GLORY FOR JABLKOWSKI MULTINATIONAL architecture and design firm Broadway Malyan has been appointed to revitalise the iconic Jablkowski department store in Warsaw. The firm, which runs an office in Warsaw, has been tasked with reinvigorating the renowned building, which was dubbed the ‘Polish Harrods’ before falling into disrepair during the Second World War and being nationalised under successive post-war governments. The family that first established the business in 1884 has set about restoring the building since winning a famous court battle in 2013, after 25 years of fighting to restore its legal ownership of the store. Earlier this month, an award-winning scheme by Broadway Malyan opened its doors in the Romanian capital of Bucharest. The ParkLake scheme was designed by the architect on behalf of Portuguese property company Sonae Sierra and Irish investor Caelum, Development.

The former Jablkowski department store in Warsaw

Looking to the future

Ignore the stereotypes: south Italy is ‘a land of opportunity’

HE SOUTH of Italy presents “lots of opportunity” for investors and developers, despite its macro-economic problems, a leading expert on the market has said. Speaking at a special panel discussion on southern Italy, Fabio Porreca, CEO of mall operator Svicom, which has a big presence in the region, said: “There are problems in the south of the country and they are real — the economic data confirms that. The unemployment rate is twice as high as in northern Italy and per-capita spend is half of what you see in the north.” But, he added, southern Italy “is also a land of opportunity. There is more room to acquire a big market share in the south, and there are cases where shopping

CNCC’s Massimo Moretti joined yesterday’s panel on southern Italy

centres outperform in the south compared to the north. And there are investors that are willing to take the opportunities.”

Porreca was joined on stage by several experts in the Italian market, including Silvia Gandellini, a senior director of CBRE Italy, and Massimo Moretti, president of Italy’s National Council of Shopping Centres (CNCC). Also speaking at the session was Multi Italy managing director Luca Maganuco, who noted that some investors are put off the region by “stereotypes” about, for example, organised crime, but that these were mostly exaggerated. He said: “People are often very concerned about investing in southern Italy, but we have realised that a lot of these things are not the case. We’ve found that public administrators are willing to work very well with shoppingcentre developers.”

European brands wanted for Japan MITSUI Fudosan, the leading Japanese property investor, is at MAPIC to source European brands to add diversity to its panAsian portfolio of shopping centres and city-centre retail sites. Executive manager Hiroshi Ogawa said: “Japanese consumers are hungry for interesting European shops, while we want to diversify our tenant mix.” Mitsui Fudosan has already helped US brands including For-

Mitsui Fudosan’s Hiroshi Ogawa (left) and Takahiro Kuroda: “opportunity for mid-market European brands”

ever 21 and Abercrombie & Fitch to enter the Japanese market, but Ogawa believes there is an opportunity for mid-market European brands to follow. Key projects in Mitsui Fudosan’s development pipeline include the Hibiya project in central Tokyo, in front of the Emperor’s palace and next to the prime Ginza shopping district, and the Mitsui Shopping Park in Kuala Lumpur, Malaysia.

Looking cool in the Nordic Pavilion

Looking into VR

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NEWS WHY RETAIL SHOULD GO WITH THE FLOW SHOPPING centres and retail environments should make better use of water’s “unique presence to touch and move people”, according to Virginie Guilbeault, vice-president of business development for Europe and the Middle East at Vortex International. The company specialises in a number of water-based structures, from water-based architecture that can provide unique points of interest within centres to children’s splash areas. Although retail is a relatively new market for Vortex, which has been providing water-play environments for more than 20 years, Guilbeault said there were huge synergies for water-based attractions within retail. “We’re all busy and never have enough time — even our children are super busy,” she said. “If you want to attract shoppers back, you need to offer an entertainment experience. We are changing one-dimensional facilities, such as shopping centres, into leisure destinations.” In addition to retail, Vortex helps to boost engagement and dwell time in a number of other markets, including hotels and resorts, water parks, amusement parks, familyentertainment centres, zoos and aquariums.

Apsys in town to celebrate Polish and French openings Promoting Steel: Apsys’ Maurice Bansay (left) and mayor of SaintEtienne Gael Perdriau

RENCH shopping-centre developer Apsys is in the midst of a major phase of activity in Europe, with one centre in Poland just having opened and several future projects due to be delivered in the short and medium term. The developer is at MAPIC to celebrate the opening in October of the mixed-use Posnania scheme in Poznan, Poland. It is also preparing to open the doors of the long-awaited Vill’Up project in the north of Paris, followed by Steel in Saint-Etienne, which is due to open in 2018. The mixed-use Vill’Up development has been delivered in an empty space within the Cite des Sciences et de l’Industrie museum, next to Paris’ famous Parc de la Villette. The section of the museum has never been occupied, despite the attraction opening 30 years ago. The local authority eventually opened up the vacant space for tender. Apsys won the bid

and is now preparing to unveil the ﬁnished project, which covers 30,000 sq m within the historic building and includes 50 retail and food units, as well as a Pathe IMAX cinema, an iFLY indoor skydiving tunnel and Yoo Moov Stations, which simulate space travel. Eleonore Villanueva, marketing manager at Apsys, said that the Vill’Up scheme was a “very innovative project”. She added: “We have brought in a lot of innovative concept stores and brands that don’t normally open in shopping centres. It is opening in a poor area that is becoming more trendy — the centre connects with the creative energy of the streets around it.” Apsys president and chairman Maurice Bansay was joined at the company’s stand by the mayor of Saint-Etienne, Gael Perdriau, to highlight the Steel project, which will deliver a total of 70,000 sq m of mixed-use space, including 60 retail and food units and a hotel to the city.

Odak ﬂies the ﬂag for Turkey

Vortex International’s Virginie Guilbeault: harnessing water’s “unique presence”

ODAK Group is promoting two Turkish shopping-centre developments at MAPIC this year, according to director Irem Oral Kayacik. Agora Antalya is an 80,000 sq m project in central Turkey. Anchored by a 20,000 sq m IKEA, it will also feature Antalya’s largest family-entertainment centre and cinema complex to cater for both locals and the many tourists who visit the city each year. A phased opening is planned for late 2017/early 2018. Another project of 45,000 sq m is under con-

struction in Izmir, where Odak ﬁrst entered the shopping-centre market 25 years ago. “We build to hold and we manage all our properties in-house,” Kayacik said. “We already have 250 retail partners and we like to develop long-term relationships with them.” This long-term perspective is especially valuable in the current economic climate. “Turkey is a tough market, but the fundamental demand is still there,” Kayacik added. “There is a young population so the market has the potential to grow.”

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NEWS POP-UP PSYCHOLOGY

Kiabi prepares to go it alone in global expansion strategy

F Retail Is Detail’s museum pop-up for Canadian mall-owner Ivanhoe Cambridge

THERE is more to putting pop-ups in shopping centres than filling space, according to John Blogg, managing director of Dutch consultancy Retail Is Detail. “There’s no more convincing argument than figures,” he said, referencing pre-planned pop-up installations for Castello that appeared in London, Stockholm and New York in 2015 — and exceeded initial expectations. The general view among mall owners with regard to pop-ups is that they are there to fill empty units and therefore appear on an ad-hoc basis. But Blogg said that they should, in fact, be seen as marketing opportunities and be planned accordingly. He also contends that pop-ups, although temporary, should look permanent, which requires a modular fit-out that can be easily transported to locations as required. Retail Is Detail recently trialled a ‘Van Gogh story’ pop-up in Canadian mall-owner Ivanhoe Cambridge’s shopping centres in Vancouver and Edmonton. “We thought, let’s do a museum pop-up, but not call it a museum,” Blogg said. “You need a strategy for a pop-up programme. You plan Christmas one year ahead. Why don’t you do the same for your pop-ups?”

RENCH fashion retailer Kiabi is on want people to know that we have something the verge of a major international different.” expansion that will see it open stan- Kiabi is inviting MAPIC delegates to visit the dalone stores in new overseas markets showcase space, which is fitted with examples from South America to Asia, with a of some of the retailer’s innovative in-store goal of doubling its revenue by 2021. features. These include hologram screens and The retailer, which already has some 500 stores a robot, Pepper, which greets customers on through a combination of directly-managed and the shop floor. franchise ownership, has converted the whole Founded in 1978, Kiabi opened its first stanof the Gare Maritime building adjacent to the dalone store in Roncq in the north of France. Palais des Festivals into an innovative exhibition It now has a physical presence in 14 counspace to showcase a new concept design. tries throughout Europe, Russia, the Middle As part of the chain’s new strategy, Kiabi will East and Africa. take more of a presence in shopping centres and citycentre locations, the company’s chief executive said. It will typically be taking units of between 1,500 sq m and 2,000 sq m. Speaking to MAPIC News at the concept store, Kiabi worldwide chief executive Nicolas Hennon said: “We want to continue to expand in Europe and, after, move into South America and Asia. Kiabi offers something different: our goal is to create happy stores, happy customers and happy families. We Kiabi’s Melissa Duse and Nicolas Hennon with Pepper the robot

Milan takes new mall to its heart

THE DEVELOPER behind a new hybrid outlet/full-price centre in Milan says that it has already become a “real part of the city”. With links to existing streets and public transport, as well as space for contemporary art, Scalo Milano is more of an expansion of Milan itself rather than a “standalone mall”, said Filippo Maffioli, managing director of Promos. He added that the centre, unveiled by Promos Group last month, had 150,000 visitors in the fi rst four days of opening: “The designer brands are really pleased with how many people we’ve attracted. We are working hard on promoting the designers and promoting Scalo Milano as a real district of Milan city centre.” Promos is in Cannes to showcase Scalo Milano to the international market and prepare for the future phases of development due in the coming years. With a total GLA of 30,000 sq m, the first phase of the scheme houses a mixture of full-price and outlet-price

Promos’ Tomaso Mafﬁoli (left) and Filippo Mafﬁoli: promoting Scalo Milano as a real district of Milan

designer labels, as well as a range of F&B units and 200 sq m of space dedicated to contemporary art exhibitions. Promos also operates Valmontone Outlet, located 40 km from Rome, which it acquired three years ago and has managed for two years. The company is now preparing to unveil a new food court at the mixed-use scheme.

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NEWS WANTED: MORE FRESH IDEAS FOR JAPAN

Uplace Brussels invites you to visit its future, virtually

B Takenaka Corporation’s Kanji Matsushita

JAPAN’S mature shopping-centre market is in need of an injection of fresh ideas, according to Kanji Matsushita, general manager, business development, at design and build company Takenaka Corporation. “The Japanese shopping-centre market has reached saturation, so we need to seek new concepts,” he said. Matsushita is at MAPIC in search of European fashion brands that could follow the lead of Inditex and H&M into the Japanese market, providing a point of difference for malls. And he is also looking to make contact with European architects and designers. “We need to freshen up a mature market,” he said. He also believes the entertainment sector has a great deal to offer Japanese shopping centres, with potential for indoor surfing and trampoline parks.

NEW EUROPEJSKI HOTEL PUTS WARSAW ON THE MAP FOR LUXURY NEW BOUTIQUE operators are being sought for the retail element of Europejski Hotel, one of Warsaw’s best-loved buildings. The renovation and redevelopment of the Polish hotel will see the creation of 2,700 sq m of ground floor retail, offering specifically designed boutique units for top luxury retailers — a market previously underserved in Poland. Cushman & Wakefield is responsible for the commercialisation of the scheme. “Europejski Hotel is set to create an unrivalled luxury retail destination,” said Renata Kusznierska, partner, head of retail agency, at Cushman & Wakefield in Poland.

ELGIAN mixed-use scheme Uplace Brussels, scheduled to open in 2019, can already be fully experienced at MAPIC in virtual reality. At 190,000 sq m, it is the largest European real estate project of this scale to be transformed into virtual reality. A specially designed Experience Crate on the Croisette is showcasing the retail areas of the scheme. Uplace and Nanopixel completed the project, which allows visitors to walk through the corridors, visit the theatre or cinema, or enjoy the central square or roof garden. Recently appointed chief operating ofﬁcer Ignace Bultijnck, who has joined Uplace from fashion group Inditex, said: “We are able to guide our existing and potential lease customers through a specially designed B2B version of the virtual-reality experience, where they can actually sense the spaces they will lease. The tool can also be used by architects and contractors to choose different types of interior decorating and design materials and see whether they match.” Uplace Brussels will combine state-of-the-art ofﬁce space, a boutique hotel, a 3,000-seat theatre, green squares, a 10-screen deluxe cinema, 270 stores and 50 bars and restaurants. More than half of the potential lease units have been secured. Uplace hopes to have

Delegates experience Uplace Brussels in virtual reality

received the renewal of its building permit by the end of 2016, allowing building to start in Q1 2017 for an opening in Q3 2019. “Many Belgian shopping centres tend to be very functional and this is the ﬁrst real experience destination,” Bultijnck said. “We wanted to bring the idea of a major destination where visitors come for half a day,— not just to pick up their shopping — to Belgium.”

Freedome bounces into Europe

FREEDOME, a new concept for Europe launched by US-based Sky Zone Trampoline Park last year, has opened its first location in the UK and appointed a new manging director, Peter Brown, to lead its UK and European expansion. Further sites are scheduled to open in Norway, Iceland, Poland and Spain in mid-2017. The first Freedome park opened in Manchester’s Cheshire Oaks in October following a £1.8m (€2.09m) investment into developing a new trampoline technology called Fusion, which improves the safety and experience of trampolining. The 1,300 sq m site attracted more than 8,500 customers in its first fortnight alone. “We have had very good reactions, great reviews and good customer numbers,” Brown said. As well as a trampoline area, the site also includes an assault course and a climbing wall. “We are moving away from being just a trampoline park to being a more fleshed-out aerial park,” said Lesley Hawks, Freedome’s vicepresident of international development. She

Freedome’s Lesley Hawks: “approaches from a lot of UK retailers”

added that the company actively sought retail space for the Freedome concept in shoppingcentre developments and refurbishments, as well as in big-box retailers looking to get rid of space. “We are seeing approaches from a lot of retailers in the UK, primarily to drive footfall,” Hawks said.

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NEWS McArtherGlen reports Europe-wide growth

UTLET centre operator McArthurGlen unveiled results yesterday showing a record 10% like-forlike growth across its 22 centres over the last 12 months. Sales rose to €4bn with the recently acquired Ochtrup Designer Outlet centre in Germany which is proving to be one of the company’s jewels — sales in the scheme have grown by more than 14% since McArthurGlen took over management in February. Julia Calabrese, CEO of McArthurGlen Group said: “Our newly-acquired centre Ochtrup performed exceptionally well. We are 75% leased in Provence, our first south of France designer outlet, and excited about beginning construction on McArthurGlen Malaga in 2017.” 113_YIT_N1a3_PIC The group’s gross lettable area is

Grands Pres looks to aspirational shoppers

set to expand with a new phase in Noventa, near Venice, as well as planned extensions to the outlet centres in Roermond in Holland and Parndorf, near Vienna, in Q2, 2017. McArthurGlen aims to increase its total retail space from the current 600,000 sq m to nearly 900,000 sq m by 2020.

GRANDS Pres, Belgium’s big-

gest shopping centre, located in the Walloon city of Mons, has added a further 45,000 sq m to its offer this year thanks to a two-phase extension that includes an IKEA, bringing total retail space to 101,000 sq m. The move will see sales across the scheme rise by between 15-25%, according to Jerome Huon, project director at developer City Mall. Huon said that when the mall opened in 2003 it was a “mid-market” proposition, but that 6,000 sq m of the new extension is dedicated to more “aspirational” shoppers. In practice, this means a new space for H&M with Belgium’s first H&M Home, Superdry and Celio, among others. Huon said that the IKEA opening has enlarged the centre’s

The Noventa centre near Venice

Grands Pres, Belgium’s biggest shopping centre

catchment from around 20 minutes’ drive to up to an hour, bringing shoppers to the mall from as far afield as Brussels and Lille. IKEA shoppers are obliged to pass through the rest of Grands Pres in order to access the store. Sales from the centre, excluding Carrefour and IKEA, were around €170m for the latest available financial year.

GRAND OPENING IN 2019 Mall of Tripla will be part of Tripla, a major hub of commerce, business and transport in central Helsinki, Finland. Join us now!

Come meet us at MAPIC 2016 at the Nordic Pavilion (NCSC) stand: R7.C18.

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Stores must adapt to survive in a fast-changing market

EREMY Collins, property director at UK department store group Joh n L ewis, i nsist s that stores remain key to the retailer’s ambitions, but he said that optimising store estates in a digital age has become essential for all businesses. “There is certainly still life in shops but sizing those shops to the market they sit in has never been more important,” he said. “This can be seen in our latest two openings, at Leeds with a full-line store as part of Hammerson’s Victoria Gate, and in Chelmsford Bond Street with a full-line but subregional scale store, which is about half the square metres 124__KIABI_adverto_ N2_PIC

of a full-size store.” Collins also stressed the impor tance of getting the assortment right, including the brands, homewares, consumer electronics and fashion offers. “These are all key, as is bringing in services such as great F&B and partners like travel retailer Kuoni, which complements our services ethic, gives people another reason to visit and dwell, and also provides something shoppers can’t get online,” Collins said. “Omnichannel retail has become incredibly impor tant to us. We have been at the forefront of change and as a result the trends we have experienced have perhaps been ea rl ier and more extreme. The need for adaptation is crucial, as is ensuring a beneficial overlap between the stores and e-commerce.” Victoria Gate, Leeds, the site of a recent flagship John Lewis opening

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With the Kiabi Surprising Store, Kiabi is organising an event at the heart of the MAPIC ! With the Kiabi Surprising Store, Kiabi is organising an event at the heart of the MAPIC with a pop-up store with the brand’s new look and advantages: a “fashionable” offer for today’s “happy families” and an innovative store concept, successfully launched in Moscow, Barcelona, Milan, Brussels and Paris. Unique in its kind, Kiabi’s shopping experience shows itself to be a pioneer in augmented commerce: Pepper robot, hologram, interactive sales help kiosks, connected loyalty card, e-reservation service, etc. A concentration of surprises over 850 sq. m. at the foot of the Festival Center ! Fashion Brand of the year 2016, no. 1 in ready-to-wear in France, awarded Best Connected Brand 2016, awarded Best Sales Conversion/Transformation in Spain, certified Great Place To Work in Europe and in China, etc. Kiabi is racking up the awards and reinforcing its new dimension: it is THE fashion brand that is growing internationally, and today stands among the top 5 biggest fashion brands in shopping centers. With a model built to be international, Kiabi succeeds with nearly 7% growth in a lacklustre market and plan to double its current turnover (€1.8 billion) within 5 years by speeding up the international growth of the company. Kiabi’s strategy is clear: strengthen its positions in Europe through major capitals such as Paris, continue its roll-out in the Middle East and Sub-Saharan Africa, then, starting in 2018, conquer Brazil, India, and China. This ambition pairs with a significant hiring plan, targeting 5,000 new employees by 2021. “Today, Kiabi is a leading French fashion brand, and its “French touch” is on a roll internationally. Its model is one of a kind, with a completely unprecedented quality/price/fashion relationship, coupled with a fun and surprising shopping experience. Thanks to our marketing and digital power, we know how to make buzz and generate new flows everywhere we set up. Today, our growth stakes are international: we target large cities everywhere in the world and look for premium locations with a minimum foot traffic of 10 million visitors. Our concept requires a surface area of between 1,500 and 2,000 sq. m. in a shopping center, retail park, or city center. Our mission is simple : “clothing the world with happiness”! Christine Jutard, Kiabi International Leader.

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NEWS INSTANBUL TO BENEFIT FROM NEW INFRASTRUCTURE TURKISH developer Nurol REIT, the $1bn property arm of the infrastructure giant Nurol, is developing its second retail project in the form of a new designer outlet in Istanbul. The 28,000 sq m Oasis designer outlet is on target to open in March 2017, general manager Samim Hatipoglu told MAPIC News. “We’re about 50% pre-leased to a mix of Turkish and international brands,” he said. Oasis is located between the existing Ataturk Airport and Istanbul’s new airport, under construction north of the city, which will become the biggest airport in the world. Hatipoglu said the $36bn currently being invested in infrastructure projects in Istanbul would open up more opportunities.

CENTRES SEE THE VALUE OF LOYALTY SHOPPING centres are catching up with retailers when it comes to CRM and loyalty schemes, according to Ben Chesser, CEO of UK company Coniq, which provides such technology. “Two years ago we were educating shopping centres and looking for early adopters. Now the market is getting more interesting and more shopping centres are looking to build relationships. Shopping centres are working hard to catch up on retailers and to build data assets that online retailers don’t have,” Chesser said. As well as improvements in technology, Chesser said the trend was also being driven by consumers’ greater willingness to share data. Coniq has recently opened new offices in Paris and Germany.

Ben Chesser, CEO of Coniq

Investment opportunities grow as Spanish economy improves

Bogaris’ Parque Comercial Torrecardenas project in Almeria

HE SPANISH retail property market is steadily improving and inspiring increasing confidence in the international markets, two of the country’s leading real estate figures have said. Speaking to MAPIC News, Javier Marin Rodrigues, general manager of Seville-based developer Bogaris, said that Spain was recovering well after slowing down significantly in the wake of the global financial downturn. “Spain is quite stable at the moment and there is more growth to come,” Rodrigues said. “Everyone is performing better and I believe we are going to have successful years ahead. Sometimes I think we focus on macroeconomics but people still need to buy food, clothes and electronics even in a financial crisis and people have still been shopping in our centres since 2008 — we’ve been expanding.”

Rodrigues’ comments were echoed by Javier Hortelano de la Lastra, president of the Spanish Association of Shopping Centres (AECC), who pointed to a number of schemes including Bogaris’ Parque Comercial Torrecardenas project — under construction in Almeria — as examples of returning conﬁdence. He said: “The ﬁgures show that the recovery is there. As a result, returns for investors will grow. It’s a good risk-return situation. There have been big schemes in 2016 and others in the pipeline; we’re due another one million sq m of new space in the next three years.” Major schemes under construction include: a shopping centre in Malaga from developer intu, due in 2018; the Bogaris Torrecardenas project, due in 2018; and France’s Carrefour has completed work on its own retail property development, FAN Mallorca Shopping.

Shedding new light on an old problem

CHANGING the appearance of a shopping centre can be both costly and more permanent than might be desirable, according to Thomas Mark, president at Innsbruck-based MK Illumination, a seasonal specialist. Decorating it is a possible alternative, especially as Christmas comes closer. MK Illumination, a market leader in decoration for shopping centres, realised sales of €80m last year with clients ranging from the MyZeil shopping centre in Frankfurt, to the Sandton City mall in Johannesburg. “The market has changed quite a lot in the last three or four years,” Mark said. “Competition is high and developers and mall owners have decreased their budgets, but want to have the same as before.” At Christmas, he said, deco-

MK Illumination’s work at MyZeil in Frankfurt

ration is differentiation that needn’t involve a Christmas tree with baubles — although he said that this is still important to all German shopping centres.

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THE WORLD OF RETAIL REAL ESTATE IN RUSSIA

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NEWS

Mica Mall offers gateway to Iran for international brands

T2’s Darren Williams

POP-IN TO A POP-UP FOR A CUP OF T2 AUSTRALIAN tea brand T2 is looking for high-profile railway stations and other travel sites in the UK, for both pop-up and permanent stores, according to Darren Williams, country director for the UK and US. The company has 70 stores in Australia and New Zealand, 15 in the UK and three in America, with a fourth about to open in Boston. Two more sites are planned for New York next year. Along with agent Harper Dennis Hobbs, the company is also looking for space on the west coast of the US, with LA and San Francisco targets. The first of a four-store concession deal with Bloomingdales opens today with the first 400 sq ft (37 sq m) space opening in Bloomingdales in LA, followed by concessions in Chicago, New York and San Francisco. In the UK six new stores will open next year as well as a trial of the travel format, according to Williams. “There you get guaranteed footfall looking for something to do and often to self-purchase,” Williams said. He described the T2 stores as “sensorial spaces” that bring tea to life with a tea library and tasting bar.

ICA MALL presents a unique opportunity for international brands to enter the Iranian marketplace, the project’s developer said at MAPIC. Not only is Kish Island, on the Gulf coast, Iran’s most popular holiday resort, but it also enjoys tax-free status and other legal advantages that make it the gateway to Iran for global businesses Chief executive Nader Keshtkar said: “Iran wants to open its doors now that sanctions have been lifted.” He added that Kish Island had been granted its special status as a way of expediting entry for international players. “There’s no tax, no duty, and brands who enter the market through Kish Island will qualify as domestic brands, allowing them to expand further to Tehran and other markets, reaching the whole 80 million of Iran’s young and well-educated population.” In addition Mica Mall will offer logistic and business support to incoming brands to ease the pro-

Reed MIDEM’s Edward Jervis (left) and Filippo Rean welcome Mica Mall’s Dr Mehdi Jahangiry and Reza Moosavi

cess of opening in a new market. And Keshtkar said his company was willing to share risk with new brands. “We can partner-up, form a JV or franchise,” he said. “There’s flexibility.” On completion in 18 months’

time the 190,000 sq m mall will offer a mix of retail and leisure space over five trading levels. The leisure will include the region’s largest aquarium and the first wind tunnel attraction in a shopping mall.

Shoppers get a chance to beat the boss TECHNOLOGY is driving new advances in customer engagement for shopping centres, according to tech entrepreneur Yibing He, founder of the online platform Lianlian. “Online has advantages but it can’t offer the experience to shoppers that physical retail can,” he said, noting that shoppers are increasingly using mobile devices while in the mall which is blurring the edges between online and offline. Lianlian uses techniques developed on the internet — combining gaming with social media — to engage shoppers while they are in the mall and gain insight into their shopping preferences. “The more you understand your

Lianlian’s Yibing He

customer the more accurately you can target services at them,” he said.

As an example he pointed to a campaign Lianlian ran on Singles’ Day (November 11) which was used by 1,000 brands and shopping centres across China. Called Beat The Boss, it allowed shoppers to play an online game of rock, paper, scissors against the boss of their favourite brand or local mall. Winners received a money-off voucher that could be redeemed in-store. The game was played 100 million times and 10 million winners visited their local mall to collect their winnings, driving footfall up 67% and generating RNB1bn (€95m) of extra sales. “Some see a battle between online and offline but we see the two working together,” He said.

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RETAIL IN ITALY: LET’S DO BUSINESS.

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NEWS RETAILERS MUST ADDRESS CHANGING CONSUMER HABITS, SURVEY WARNS A “GROWING convergence” is developing between shoppers’ in-store and offline trends throughout Europe, a new survey has revealed. Commissioned by pan-European investment company Redevco, the survey asked 14,000 shoppers across France, Germany, the UK, the Netherlands, Belgium and Spain about their shopping habits both online and while visiting physical retail space. It revealed what Redevco describes as a priority shift in shoppers’ minds, from the “need to buy” to the “need to enjoy”, with food and leisure playing an increasingly important role in retail-led space. Commenting on the findings, Redevco head of research and strategy Marrit Laning, said that the survey was a call-to-action for landlords and investors in retail space, which need to adapt to the changing trends in shopping. He said: “As shoppers become much more demanding in what they expect of shopping venues and surrounding environments, we need to ensure that our investment choices address their needs in a more holistic way, factoring in local trends and the relative attraction of cities as retail destinations.” “The psychological blueprints of the two journeys appear to be quite different and the more effective retailers and property investors are able to identify and target these, the more value they are likely to add to their business.”

Grandscape will attract new brands to Texas and the US

EBRASKA Furniture Mart is at MAPIC promoting its Grandscape mixed-use development, a $1.5bn (e.9bn) scheme which is being built in Dallas, Texas. The 430-acre development is anchored by a 177,000 sq m Nebraska Furniture Mart store which opened in 2014, and the 27,900 sq m Scheels luxury sports goods store. It will comprise around 120 retail units as well as a luxury hotel, residential tower and destination leisure attractions. It is forecast to attract around 20 million visitors a year, with construction due to begin early next year and staged openings in both 2019 and 2020. Steve Graham, principal of Stellar Development, claimed that the development would attract newcomer brands to both Dallas and the US as a whole. “We plan one of the finest shopping

Stellar Development’s Steve Graham

centres that’s ever been developed in America,” he said, adding that retailers had already said that the site provided a less costly alternative to locations like Fifth Avenue and were planning to invest in flagship stores within the

development. “We have been meeting with some tremendous international retailers and are here at MAPIC to have continued meetings with them and to meet new potential tenants,” Graham said.

New tool measures the power of events AS EVENTS become an increasingly important part of the shopping-centre calendar, being able to measure, analyse and predict their impact is key. Footfall intelligence specialist PFM Group (Pedestrian Flow Monitoring) says that with its event-monitoring tool, centre owners can predict more accurately their likely success and adjust investment models accordingly. Launched last year, shopping centres such as intu in the UK are increasingly making use of the tool to work out the footfall value, media value and overall event value, said Bart Schmitz, owner of PFM Group which is showcasing the tool at MAPIC this year. He said the tool was part of a wider effort by PFM Group to help shopping centre owners better understand the data that they are getting from their businesses.

PFM Group’s Bart Schmitz: “We are trying to connect the dots in the data”

“A lot of data comes onto client’s desks but they don’t necessarily understand how to make it relevant. Everything makes data but it’s about what do you do with it. We are trying to connect the dots in the data to make a difference,” he said.

PFM Group will be presenting a 09.30 session this morning, titled Five Ways To Forecast And Improve The Operational And Strategic Performance Of Your Assets in the MAPIC Innovation Forum, along with its client Wereldhave.

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INDIA:

THE WORLD’S FASTEST GROWING MAJOR MARKET

STAND « MAPIC WORLDWIDE » P-1 F20

19-20 September 2017 Renaissance Hotel Mumbai, India

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NEWS CITY RETAIL FUND ACQUIRES PRIME ASSET IN GHENT AEW HAS bought a prime retail asset in the historical centre of Ghent, Belgium, on behalf of City Retail Fund, the seventh buy for the fund which has invested €200m in Copenhagen, Madrid, Rome, and now Ghent. The former post-office building dating back to 1909, has been acquired from MG Real Estate and comprises 3,630 sq m of retail space in Korenmarkt, one of the most high-profile locations in Ghent. The property is currently 100% let to fashion retailers Sissy Boy and Men At Work, Skins Cosmetics, Le Pain Quotidien and supermarket Albert Heijn. City Retail Fund executive Christina Ofschonka, said: “We believe that the asset in Ghent is an attractive addition. We have a number of potential opportunities in the pipeline which will support the diversification of the fund in size and location.”

Luxury seeks new locations as brands break with tradition

UXURY retail is still booming in prime cities where “incredible demand” continues to push up rental growth, an expert on the sector has said. Speaking at the Luxury & Prestige Retail session at MAPIC yesterday, CBRE head of retail research Andrew Phipps said that cities such as New York, Milan and London are still excelling themselves, while globally there is a “mixed bag” of rental performances. He added: “Rents are still growing faster in these cities than anywhere else, whereas in Asia it’s a slightly different picture. There are some very hot places at the moment such as Dubai, Shanghai and Vietnam which are pushing forward hard.” Also on the panel, Thor Equities executive vice-president Sam Polese said that while on the

whole luxury retailers prefer to remain in the core upmarket locations within major cities, there are “edgier” brands that will test

Suburban renewal good news for retail

SCHEME WILL ‘TRANSFORM’ IRISH TOWN INTERNATIONAL broker Savills is to seek a development partner for a 23,000 sq m retail scheme in the heart of Bray, Ireland. Wicklow County Council now owns the site and aims to have a development partner in place by March 2017, with a view to completion by Q4, 2018. “The development will transform the retail and evening economy of Bray, where the main street in particular has been poorly provided for, due to a lack of restaurants, larger retail units and leisure offerings,” Savills director Larry Brennan said. “The recovering retail economy is now supporting real occupier demand.”

Sam Polese: edgier brands test locations

new locations. “They are willing to step outside the natural marketplace,” he said. “Such as in New York where the financial district has become a very hot location. We have areas popping up all around the country that luxury and aspirational brands are looking at which I would never have thought they’d be looking at.” Discussing the drivers for the new modes of thinking in luxury retail, Sofiane Bouleghraif, communication and customer care manager at luxury fashion brand Kenzo, said that millennial shoppers were showing different requirements from those of previous generations. “The experience is essential; the experience you share has to resonate. The millennials don’t need as much assistance as many luxury brands seem to think that they do; they are more independent.”

Islington Square will capitalise on demand for retail in London’s suburbs

SAGER Group and Cain Hoy’s Islington Square regeneration scheme in north London will open up new opportunities for retailers, according to Cushman & Wakefield’s head of EMEA retail Justin Taylor. “London suburbs are in demand,” Taylor told MAPIC News.

“There’s been a lack of development generally and we’re seeing big demand for space in Islington.” With 15,800 sq m of retail space alongside residential and office uses, the scheme will provide units from 46 to 2,300 sq m and completion is scheduled for Q2, 2018.

Contracts have already been signed with a Third Space family gym, and with Odeon for its The Lounge arthouse cinema format. Taylor described the target tenants as “an aspirational mix — upscale but not luxury”, and he predicted strong interests from international brands.

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PROJECT NEWS

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INTU WATFORD

City: Watford, UK • Developer: intu Intu Watford is a thriving shopping centre with a transformative extension project under way to make it bigger and better. Intu’s £178m (€206.7m) investment will create an impressive 130,000 sq m retail and leisure destination to attract visitors from further, more often, to stay for longer. The development will create space for more great retail brands and introduce top new restaurants and leisure activities, including a nine-screen IMAX Cineworld cinema to give customers a compelling shopping experience from day into evening. Once the extension is completed, CACI has estimated that Watford will be promoted to the top 20 of its UK national 140+ Brands retail destination ranking, alongside Edinburgh and Bristol. As a direct result, the town will also be reclassified as a premium London satellite. The centre, which is easily accessible from the M1 and M25 motorways as well as national rail and London Underground stations, attracts a higher than average ABC1 profile (85% of the 15 million annual footfall is ABC1). The joint agents for intu Watford are Lunson Mitchenall and CWM. LA NORIA OUTLET SHOPPING

CITY POINT

City: Murcia, Spain • Developer: Realia Patrimonio La Noria Outlet is a stylish shopping village where exclusivity and value reign. Located in south-east Spain, five minutes form Murcia city, this charming shopping centre offers top Spanish and international designer brands at discount prices between 30- 70% discount, all year round. On offer are a selection of clothes, footwear and fashion accessories from top brands including CH-Carolina Herrera, Desigual, Levi’s, Pepe Jeans, Bimba y Lola and Nike Factory, among others. A unique shopping experience with easy access, ample parking and free kids club makes shopping at La Noria Outlet attractive for everyone

City: Brooklyn, USA • Developer: Acadia Realty Trust Set to open imminently, City Point is a 170,000 sq m mixed-use development of new construction, including retail, residential, entertainment and office space. The shopping centre is anchored by Century 21 department store, Target, Trader Joe’s, Alamo Drafthouse cinema and DeKalb market hall. DeKalb market hall will include 40 of the best of New York’s food purveyors, creating an inviting gathering place for the entire borough. City Point is an unparalleled, transformative mixed-use project with an iconic design that will anchor the thriving academic, residential and commercial communities in Downtown Brooklyn. City Point is owned and being developed by Acadia Realty Trust, one of the shopping centre industry’s top performing REITs, and Washington Square Partners.

RAFFLES CITY CHANGNING

City: Shanghai, China • Developer: CapitaLand Planned opening date: Q2 2017 Building on the success of Raffles City Shanghai near People’s Square, CapitaLand is developing its second Raffles City project in Shanghai in the prime Changning district. Standing on the site of the historic St Mary’s Hall, Raffles City Changning is located at the centre of Shanghai’s Zhongshan Park business district and will be directly connected to three busy subway lines. The integrated development covers a total gross floor area of about 261,000 sq m. It comprises a shopping mall with 77,000 sq m of net lettable area spread across two retail podiums, three grade-A office towers and five blocks of heritage buildings restored from the former St Mary’s School — the alma mater of well-known Chinese writer Eileen Chang. Targeted to open in Q2 2017, the mall will offer street-level retail frontage along Changning Road that will provide great branding opportunities for retail flagship stores and upscale restaurants. Complementing the retail offerings in the mall — which will include state-of-theart cinemas, a gourmet supermarket, international fashion labels and restaurants by celebrity chefs — the heritage buildings and the lawn between the two retail podiums serve as an ideal venue for film premiere parties, fashion shows and exclusive product launches.

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PROJECT NEWS

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GLORIES

VIADOREE

City: Barcelona, Spain • Developer: Unibail-Rodamco Planned opening date: 2017 Located in the fourth largest metropolitan area in Europe, Glories is going through a major renovation with Unibail-Rodamco investing €134m to upgrade and extend the centre. Completion is scheduled for 2017. Glories has an ideal location at the core of a region of 5.5 million inhabitants with outstanding accessibility by car, public transportation and foot. With 70,000 sq m of GLA and 130 stores, the shopping centre will strengthen its position as an attractive retail destination in the region, improving its urban concept, architecture, design and commercial mix. Glories is expecting to receive 16 million visitors in 2017. Glories embodies the energy and creativity of Barcelona, blending the signatures of designer Saguez and artist Javier Mariscal, the new Glories will showcase unique artistic elements. The centre will also gather the best of Unibail-Rodamco’s know-how: iconic stores with facades up to nine metres high, the comfort of the 4-Star shopping experience, El Mercat and the Dining Experience offering highquality food and meeting places.

City: Anse-Pommiers, France • Developer: Groupe Duval Planned opening date: end 2018 Conceived by Groupe Duval, Viadoree is a 14,000 sq m retail park — dedicated to DIY, household and personal equipment, culture, sport and leisure — situated at the heart of a multi-use hub alongside the departmental road, offering visibility from the A6 autoroute. The layout is made up of a 3,500 sq m DIY store, five MSUs between 500 and 2,000 sq m as well as a complementary building housing two 600-sq m restaurants with terraces and drive-thru facilities, two MSUs of 860 and 1,000 sq m and 360 parking spaces. With accessibility by all forms of transport, green roofs, solar panels providing hot water to the restaurants, rainwater harvesting and widespread use of natural materials the project will make a major environmental statement.

BEE4KIDS

City: Valmontone, Italy • Developer: Arcotecnica Group Planned opening date: 2018 BEE4KIDS is a leisure centre for families featuring innovative architectural elements to create impactful attractions. The objective is to allow the customer to enjoy a unique shopping and entertainment experience. The retail model, which differs from traditional models, provides the creation of a commercial structure that includes areas dedicated to entertainment, learning, refreshment, dining and child services. BEE4KIDS is designed to satisfy the desires and the needs of four main target audiences: parents seeking products and services for children from 0 to 14 years; children from three to nine interested in socialising; youngsters from 10 to 14 seeking fun and adventure; and families interested in education, services and healthy food. The development aims to give children a creative environment where they can carry out activities of social value while parents have a full commercial offer dedicated to children. The type of products on sale in the shops and the type of entertainment activities make BEE4KIDS attractive to consumers who love good food, sport and a healthy lifestyle.

INTU BROADMARSH

City: Nottingham, UK •Developer: intu Planned opening date: 2019 Intu has developed plans for intu Broadmarsh that will improve the whole city. The project will see the creation of a remodelled shopping centre for customers to shop, eat, relax and socialise throughout the day and evening. The design will improve connectivity to and from the city with clearly defined routes through the centre and a new southern gateway into Nottingham. The approved work forms part of a £150m (€174m) investment by intu and Nottingham City Council in the Broadmarsh area, including refurbishment of the car park and bus station, and public realm improvements. The project will bring new retail brands, restaurants and leisure activities, including a multi-screen cinema and new restaurants — giving lots more reasons for customers to come more often and stay longer.

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TRENDS HUB 40+ EXCLUSIVE CASE STUDIES

For the first time at MAPIC, an official track dedicated to O2O & Innovation has been created. Attend our five conference sessions focusing on phygital, data, pop-up stores, millennials, seamless experience.

The 400mÂ˛ Innovation forum will host innovative solutions and technologies. Exhibition and Pitching sessions.

Startups with solutions for shopping centres and points of sale. Exhibition (1/2 day per startup) and Pitching sessions.

The power of pop-up business. Over 30 brands to experiment different physical dimensions of shopping. Exhibition (1/2 day per brand) and Pitching sessions.

The 600mÂ˛ retailtainment area will feature Leisure & Entertainment key players. Exhibition and Pitching sessions.

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& DEDICATED MATCHMAKING SESSIONS At the Networking Lounge SESSION 1

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ENTRANCE

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FEATURE FOOD & BEVERAGE

Shopping isn’t what it used to be

Unibail-Rodamco’s Mall of Scandinavia

The days of the old food court are over. Tastes have moved on, times have changed, and the space must change as well for a mall to be truly fit for the modern world. Ben Cooper reports

HEN IKEA Centres Russia announced a $2.1bn investment programme in its shopping centre portfolio earlier this year, food and beverage (F&B) was a key part of the plan. The bottom line: the total space given over to restaurants, bars and cafes would double by the time the project was finished. It’s a telling example of a worldwide trend. Globally, landlords are paying more attention to F&B and leisure than ever before. Visitors to shopping centres are no longer just shoppers — they are guests, just as likely to be in a mall to eat out or go to the cinema as they are to shop. CBRE Global Investors’ head of retail research, Marije Braam, says that for landlords, F&B can no longer be overlooked, not least because of the changing habits brought about by the internet. “Leisure and F&B are expected to play a role now,” she says. “The shopping

experience is about more than just shopping. It’s become more and more important for owners to increase the offer and the experience in shopping centres. From the research we’ve done, we see that both F&B and leisure have been the main reasons for the increase in dwell time.” With physical shopping space increasingly in competition with e-commerce, the drive to increase the dwell time that Braam describes has become a pre-occupation of landlords. Which is precisely why IKEA Russia isn’t alone in making big investments in its F&B space. Everywhere you look in the global retail property scene, from the plush Dining Plaza at Unibail-Rodamco’s Mall of Scandinavia, to Apsys’ Posnania centre in Poland which opened last month with a quarter of the space allocated to food, drinks and leisure - landlords are increasing the space dedicated to F&B. In turn, higher standards than ever are being expected

mapic

US burger restaurant Five Guys is increasingly targeting shopping centres

A TASTE FOR F&B THE F&B market is proving to be a meal ticket for shopping centres in more ways than one — a trend that will be explored at both MAPIC Italy in May and MAPIC 2017, where the sector will be the subject of a special focus. The growing importance of F&B to shopping-centre operators is borne out by research from CBRE, which found that 30% of people visiting malls in the MENA region do so solely to eat and drink. JLL, meanwhile, reports that, 10 years ago, F&B operators occupied only 7% of GLA in shopping centres: today that figure is 15% and tipped to top 20% in coming years. JLL research also shows that customers who eat during a visit to a shopping centre stay for an average of 27 minutes longer — and spend 18% more in overall transactions.

of food operators. Gone are the days of the food courts and counters; in their place slick food operators have come in to take large, stand-alone units in ever more prominent spots in the mall. Over the past 12 months possibly the most prominent of these is US burger restaurant Five Guys. The chain’s expansion has been exponential, with stores opening at a phenomenal rate globally, not least in shopping centres. Wagamama and Yo Sushi — which both got in on the trend early — are still rapidly growing, hotly pursued by a raft of exciting, ambitious new brands emerging each year. From Italy travel-food brand Autogrill has major plans, including for the US, as has restaurant operator Cigierre — parent company of two brands, Old Wild West and Wiener Haus, both of which are expanding — and coffee chain Caffe Pascucci is looking to build on a successful Asian launch. A host of quality burger operators are busily expanding throughout the world — with some hip new entrants

La Place, a brand of Italian travel-food company Autogrill

typifying modern tastes, including Belgian burger chain Ellis Gourmet Burger, which is pressing ahead with plans for France, and Swedish chain Max Burger, which through its franchise model is rapidly expanding in Scandinavia and has larger, global ambitions in mind. Jonathan Doughty, head of EMEA foodservice consulting at international real estate agency JLL, says that changing consumer tastes have sparked the evolution — and continue to do so. “The landlords and owners have had to improve what they offer,” he says. “People don’t want just fast food. It’s become much more about real food, real products, bespoke environments and giving people exactly what they want. Food markets are growing; they are the modern food court.” Such is the rapid pace of change that already some truly unique market concepts are emerging. After years of writing about and reviewing destinations, Time Out has turned its hand to running a chain of fashionable food markets, with sites in Portugal, Germany and the UK either already up-and-running or in the pipeline. With such successful brands in operation, the pull factor for landlords is self-evident. But Paul Nicholls, director of retail asset management at TH Real Estate, says that while landlords are understandably doing everything they can to get the food operators into their malls, the nature of restaurants and cafes brings unique challenges. “It is also one of the most difficult areas to get right given the seasonality and nature of food trends and the cost of providing the right environment — both in terms of aesthetics and services — and the risks associated with operator covenant, consistency of service and quality of offer,” he says. “We anticipate that the emphasis placed on F&B will continue to rise in conjunction with leased area, but there is no magic number.” Nothing is guaranteed in retail property management: shopper and visitor habits change; new trends emerge; economic fortunes fluctuate. But on the desire for quality food and drinks, and up-market environments to relax in, it seems there is no going back.

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FEATURE TRAVEL RETAIL

CapitaLand is developing the retail offer at Changi Airport

Retail targets the high flyers Retailers are increasingly seeing the value of placing themselves in travel hubs around the world, and in turn are making airports and stations fun places to visit. Mark Faithfull reports

RAVEL retail has become a huge business for both transport hub owners and operators and for retailers looking to reach consumers heading through train, metro and airport facilities. In fact, many have become destinations in their own right, says Fiona Hamilton, head of travel retail at Paris-headquartered advisor BNP Real Estate. “There have been huge developments in the way retail is presented at airports, especially the likes of London Heathrow Terminal 5 and at Changi in Singapore. In the past many airports didn’t really have an identity; when you arrived you could have been anywhere,” she says. “But they have really mastered place making and becoming glocal, reflecting not only in more local products but also selling the host country.” While airports might once have been seen as little more than air bridges with retail, many retailers are now waking up to sales densities of three to four times what they might achieve in a mall and the fact this is arguably the last unexploited major physical retail opportunity. “In my view some of the long-standing airport retailers, such as duty free, have somewhat dominated and mystified airport retailing and in truth become a little complacent and made it seem more complex than it really is,” Hamilton says. “In fact airports offer a huge catchment and footfall and sophisticated customers passing the door. Airports are also a good platform for e-commerce, whether that’s in-store iPads or delivery services.” She points to virtual brands entering the airport space in transient locations, such as online cosmetics retailer Birchbox, which is testing its format with emotional branding. It’s the way some brands have trialled airport retail, such as Cath Kidston which started at Heathrow

Terminal 5 with a transient site before opening a full store. Brands such as Kit Kat, Marc Jacobs, Yeti, Samsung, Angry Birds and Nike have all tested transient retailing at Heathrow. But of course although airports try to be flexible, given that as much as 70% of revenue comes from retailing, there is also a commercial imperative. “Yet for an airport such as Helsinki, which is very business-focused, transient retail provides a great opportunity to keep refreshing the offer,” Hamilton says. Rail use is also becoming increasingly popular. French developer Altarea Cogedim has completed several railway-station projects in Paris and has further schemes in the pipeline. Notable among these are the shops in Gare Montparnasse, Paris, which will be developed over five floors ready for an increase in passenger numbers with the arrival of the Bordeaux and Brittany high-speed lines, plus the 32 stores serving Gare Du Nord and a retail scheme for Gare De L’Est that covers over 6,500 sq m. Similarly, Grandi Stazioni has been redeveloping a series of major train stations in Italy and is responsible for 1.5 million sq m of real estate and an annual passenger load of 700 million people across 14 stations. Having completed a series of schemes, the company is close to delivering station retail projects in Bologna, Bari and Palermo. “In terms of projects to watch, I think London Paddington is a future benchmark transport hub. It has a direct link to Heathrow, it has a metro that serves international, indigenous and local people and there is currently little in the way of retail and leisure there,” Hamilton says. “The exciting thing about transport retail is that it’s going through the kinds of changes that we saw in shopping centres 25 years ago.”

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Sofia Fernandes Always looking for fun in Almada Forum  #meet #shop Almada Forum, Lisbon, Portugal, November 2016

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