Accessories Amazon Asda Christmas Expansion & Franchise Fashion HR News High Street John Lewis London Marks & Spencer Media News Results Retail Retail and Consumer Industry Retail news Sainsbury's Store Tesco UK brand china consumer deal deals and rumours department department stores e-commerce electricals expansion fashion news food grocer group launch luxury morrisons my online online retail people profit property retail property retailer sale sales supermarket waitrose
Carlyle set to buy 49% stake in Chinese malls Wednesday, 29th May 2013
US private equity firm Carlyle Group LP is set to buy a 49 per cent stake in two Chinese shopping malls, as Western investors continue to look to the East for returns. As part of a vehicle advised by its Asia real estate group, Carlyle this week announced it had purchased a stake in shopping mall developer SZITIC Commercial Property Co Ltd as part of a strategic partnership between the two companies.
Mixed bag for BRC results as both footfall and shop vacancy rates rise Monday, 20th May 2013
The latest results from the British Retail Consortium revealed footfall on the high street rose 3.4 per cent year-on-year in April, the biggest increase since the run up to Christmas 2011. According to the results, which were compiled by the BRC and Springboard, the high street saw significantly more visitors in the month, compared with a 0.3 per cent rise in footfall for out-of-town centres, and a 3 per cent drop in shopping centres.
House of Fraser prepares to make Middle Eastern debut in Abu Dhabi Tuesday, 26th March 2013
Image credit: The Mall at World Trade Centre Aldar
House of Fraser will open its first store outside of the UK and Ireland in Abu Dhabi later this year, as it prepares to anchor The Mall at World Trade Centre. Expected to launch early in the second half of the year, House of Fraser’s new store will occupy three levels, joining H&M, BHS, Ted Baker and Pandora at the new shopping centre.
Trinity Leeds opens for business Thursday, 21st March 2013
Land Securities’ £350 million shopping and leisure complex opens to hundreds of shoppers eager to be among the first to shop in the 1,000,000 sq ft centre. Crowds flooded into the three-storey city centre mall on Thursday morning to catch the first of the launch-day celebrations, which included the world’s biggest designer dress by Henry Holland as part of its opening sequence curated by the iconic British designer.
LVMH in new joint venture to open luxury mall in Abu Dhabi Monday, 21st January 2013
The District Mall. Image credit: LVMH/ TDIC
French retail conglomerate LVMH is set to develop a luxury shopping mall in Abu Dhabi under a new joint venture with The Tourism Development and Investment Company (TDIC). LVMH-sponsored private equity fund L Real Estate will now look to develop a 168,000 sqm shopping centre on the Saadiyat Island in Abu Dhabi.
Another one bites the dust: Carrefour exits Colombia with Cencosud deal Friday, 19th October 2012
The world’s second largest retailer is pulling out of Colombia, another non-core country as it looks to better defend its key markets. In a deal which would be the biggest ever taken on by a Chilean firm abroad, Cencosud will pay USD 2.6 billion for Carrefour’s Colombian assets, including 72 hypermarkets, 16 convenience stores and 4 cash and carry stores.
Westfield offloads 8 US malls in $1.15bn deal Wednesday, 18th April 2012
Westfield will sell eight US malls for USD 1.154 billion to Starwood Capital Group as it looks to raise funds to redevelop its remaining properties. Reuters on Wednesday reported that Starwood Capital Group would take a majority interest in seven of the malls for USD 1 billion through a new retail platform, with Westfield retaining a 10 per cent stake.
Fawaz AlHokair enters eighth international market with the opening of fifteen global brands simultaneously Wednesday, 18th April 2012
Fawaz A. AlHokair & Co, SJSC, (Alhokair) have made their debut in Tbilisi, Georgia, as major tenants of the newly opened Uptown Tbilisi Mall. The launch will see Alhokair become Georgia’s largest retail group, with 15 of the retail specialist’s franchised brands opening in the mall on 6 April, and another 17 planned to open by the end of June this year.
Westfield to offload US malls? Thursday, 29th March 2012
The world’s second largest shopping mall owner is reported to be considering the sale of seven of its US stores. The Wall Street Journal cited two sources close to the deal thought to be worth around USD 1 billion, in which Westfield would sell seven of its stores in the US to Starwood Capital Group.
The great indoors: Google maps major retail destinations and malls Wednesday, 30th November 2011
The days of getting lost inside department stores for hours on end may soon be over. An upgrade of Google’s mobile mapping device released on Tuesday is set to span the world’s shopping malls and airports as the company looks to become an invaluable shopping tool. Although the initial index only covers a small fraction of the world’s malls, for now just in US and Japan, Google Inc is hoping to develop the catalogue as more owners and operators of shopping hubs submit their floor plans to be mapped.