MAPIC 2024 NEWS 1

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Limassol Calling

Discover a new Mediterranean hub for global retail and business!

Event Details

Date: November 26

Time: 4:30 pm

Location: ARENA hall, MAPIC 2024, Cannes

Why Join Us:

•uncover exciting opportunities for leading global brands

• get an exclusive preview of Limassol’s transformative new development

Cocktail Networking

Connect and collaborate with industry leaders after the presentation

Space is limited — secure your spot!

Cenomi expands in the KSA; Entrecampos unveils new scheme at MAPIC; Citynove; NEPI Rockcastle; JD Sports; Uniqlo; Carmilla; Krispy Kreme; Klépierre; Eurofund; Diriyah; Dans le Noir?; and more...

URBAN REGENERATION:

Looking at how the next wave of mixed-use developments and redevelopments are reshaping Europe’s city centres

RETAIL:

With MAPIC showcasing an array of new retail and leisure brands, we focus on some of the new names here in Cannes

Today’s packed conference agenda includes keynotes from Citynove and Gaeten le Jariel of Gulli Parcs; plus three premium networking events and a focus on retail and leisure

Muy (France).

LEISURE IS GROWING AT MAPIC

Dear friends, participants and partners...

WELCOME to Cannes for MAPIC’s 29th edition. It is wonderful to be gathering once again at a time when we can see clear momentum behind the retail and real estate sectors after some challenging years.

A number of major shopping centres have transacted over recent months, global investors have pledged to increase their exposure to retail property and more new players have established themselves across retail, leisure and F&B, while we are seeing more digital innovation and, of course, the potential of artificial intelligence.

As a result of this fresh dynamic, matchmaking will play a greater role this year, along with exclusive analysis of the market and key trends. And 2024 will be all about brands, enabling participants to learn about new concepts that are expanding internationally.

Based on industry feedback, we aim to help attendees identify these brands and there will be sessions dedicated to exciting new companies, to developments in the high street as well as city-centre developments. Of course, there will also be

keynotes from top brands and property leaders.

In real estate, mixed-use projects now dominate development and urban regeneration and the close integration of retail and urban planning is reshaping our towns and cities. Sustainability and community will also play a major role at MAPIC as we showcase the projects that will help shape the future.

Great shopping centres today see themselves as stages — where entertainment is constantly on offer.

Culture, theatre, live music and food are all part of the experience.

New this year, the below-ground zone (Palais-1) at MAPIC will be entirely dedicated to retail and leisure. We have created the Retail Gallery to give attendees exclusive access to a handpicked selection of developing retail brands poised for international expansion. All this is supported by our curated Observatory Guide of cross-border retail and food, while you can also attend our extensive international expansion pitching and networking sessions.

Just as leisure has played an increasingly important role in the retail

“The Retail Gallery gives attendees exclusive access to a selection of retail brands poised for international expansion”

real estate industry, LeisurUp has also grown. We have two new leisure areas: The LeisurUp networking lounge for more networking opportunities with retail property players; and the Immersive area showcasing immersive solutions to drive traffic to retail destinations. We have expanded the conference programme, while the Licensing Village will allow the owners of TV programmes, video games and other intellectual property assets to show how they have developed physical activations.

For these reasons, we chose ‘The New Retail Equation: Growing in a Fast-Changing World’ as our theme for 2024. First of all, the word ‘equation’ is important, because retail professionals have to deal with so many variables, including omnichannel, the growing importance of environmental and social impact, digital and artificial intelligence. All of these aspects are part of the new retail equation and MAPIC is a great place to find the right formula to solve all of these challenges.

These are definitely years of change for the retail industry, but this year especially there are many reasons to be optimistic and at MAPIC we see it as our job to help guide you through this paradigm shift and to adapt in an exciting new age of retail.

Nearly 4,500 participants are expected with 1,600 retailers, leisure and restaurant operators, confirming the show as the world’s leading international retail property event. Thank you for being part of the MAPIC community . The whole of the MAPIC team wishes you a fantastic show!

MAPIC

Welcome Reception

The Majestic hotel was the venue for last night’s MAPIC Welcome Reception. Exclusive partner to the event was urban developer Nhood

Mixed-use centres will bring ‘new kind of retail’ to Saudi Arabia

SAUDI Arabian property developer

Cenomi is a year away from completion of two transformative mixeduse centres that will deliver a “new kind of retail experience” never seen before in the kingdom, the company’s chief executive has said.

Cenomi, the company behind iconic regional shopping-centre developments including the Mall of Arabia, is currently on site at two centres with a joint footprint of nearly

300,000 sq m of leasable space, each set to deliver 300 units for a wide range of uses and occupancies.

The company is in talks with retailers, international retail groups, and regional franchise groups with interests in taking space in the centres.

Cenomi chief executive Alison

Rehill-Erguven said that the projects, both set to open at the end of 2025, represent a major step forward both for the company, as its “first

foray into mixed use”, and for the Kingdom of Saudi Arabia.

“A centre like this does not exist in Saudi Arabia. We are very excited about it,” she said. “Cenomi has always been a pioneer, so here we are again leading the way into a new kind of retail experience.”

The new centres, Jawharat Jeddah and Jawharat Riyadh, form part of a longer-term growth strategy and a future-development pipeline of six new mixed-use hubs across the kingdom.

Cenomi’s plans form a major part of the national programme known as Vision 2030, which entails shifting the economy away from its reliance on oil for GDP onto other sources including shopping and tourism.

Rehill-Erguven will address the first ever MAPIC Networking Breakfast aimed at female retail and real estate professionals, on Wednesday.

Cenomi, the largest developer in the Kingdom of Saudi Arabia, has delivered a total of 22 malls in 10 cities with a total leasable floorspace of 1.4 million sq m.

Sustainability is key for Entrecampos

THE FUTURE of Entrecampos, the landmark project in the Portuguese capital Lisbon, is to be officially presented to the public for the first time at MAPIC. The Entrecampos real estate scheme, one of the largest and most ambitious the city of Lisbon has seen in recent decades, has been six years in the making and will soon begin the retail and residential marketing phase.

Miguel Santana, director of Fidelidade Property, the project’s promoter, told

MAPIC News: “It is important to be here, this is the first time we are revealing the project to the world. We thought MAPIC would be the right time and the right place to show it.”

Michael Purefoy, head of asset management at Entrecampos, stressed the importance of engagement with the community and the sustainability aspects. “We have a very large plot, five hectares or so, in the middle of Lisbon, but of that, 17,000 sq m is public

SKYLINE CHESS SEEKING CUSTOMERS IN CANNES

ARCHITECTURAL designers Ian Flood and Chris Prosser of Skyline Chess are hoping to catch the eye of developers at MAPIC with their bespoke chess sets, which replace chess pieces with notable buildings. Flood told MAPIC News: “We are both architects and we used to be flatmates and we played chess together in the evenings. It was over a few games of chess that we had the idea — what if we could swap the chess pieces for buildings? And we’ve grown from there.”

space, green areas, parks and plazas, and the project has been designed around those and the integration between indoor and outdoor is very important,” he said. “The retail is the spine that connects the entire scheme and we believe that we are effectively the first curated high street in the city.”

The retail component consists of 24,000 sq m spread over two floors, with 75 stores, designed to create a new shopping and leisure destination. The commercial space was projected with a street concept, combining leading stores, fine dining establishments and a central restaurant area.

Purefoy said that ESG of the development is a driving principle behind Entrecampos and believes it to be the first commercial project at this scale to use geothermal energy for heating and cooling. The scheme also has LEED Neighborhood Gold certification, awarded for the first time in Portugal.

Founded in 2013, the company launched with a London chess set and now has 12 different cities in the range. “We also do bespoke and corporate sets, which is why we are here at MAPIC — to find new building developers, anyone with a property portfolio who might want us to design something with their own buildings or feature their city,” Flood said.

The pair have crafted bespoke sets for a diverse range of clients, including the Vatican Museum, which featured statues and artifacts from its collection; a custom-made Doha edition featuring a client-owned boat as the pawn; and a curated range for the Hudson Yards Development in New York.

The sets are made to order in a variety of materials including bronze, stainless steel and acrylic as well as marble and fine metals. The company produces one-off sets for special occasions and larger quantities for broader distribution.

Skyline Chess’ Ian Flood

Michael Purefoy (left) and Miguel Santana from Entrecampos

Alison Rehill-Erguven of Cenomi

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Galeries Lafayette retail model is all about the feel-good factor

THE REMODELLED Galeries Lafayette department store in Annecy, France has been designed around creating positive emotions rather than simply pursuing profits, in what is a new approach to building relationships with customers, according to Citynove Asset Management president Eric Costa.

Costa will give a keynote address today at 12.00, explaining how Citynove, the real estate arm of the French retailer, took the project forward and his key findings 18 months into operation. Annecy is a store that includes a host of new ideas and complementary retail and services focused on making visitors feel less stressed.

The overhaul included the transformation of the 12,000 sq m Galeries Lafayette store and 7,000 sq m dedicated to activities such as restaurants, a climbing wall, a medical centre and new retailers including Uniqlo.

“We are in a position to talk about what we did now, because we have had long enough to measure the impact of these changes, which we have based around the English idea of ‘random acts of kindness’ and which was conceived to make people feel positive emotions,” Costa said. “This informs every decision around architecture, design and the retail offer, because we want people to have unexpected moments all around the store.”

Costa recalled that one of the key achievements had been to persuade investors that this more subtle and nuanced approach would work, as the core idea is that profit is a consequence of the strategy, not a pursuit in its own right.

“Our belief was that this may not be the traditional way of optimising floorspace and profits, but instead it creates a stronger long-term relationship with the customer,” he said.

“Given the struggles of many smaller shopping centres, perhaps this is a different way forward for them.”

Following the success of the transformation in Annecy, Galeries Lafayette is preparing to remodel another department store and retail gallery near Lyon. While the ethos will be the same, Costa was quick to stress that it will not be a duplicate of the original.

“The important thing is to adapt. At Annecy we gave around 50% of the space over to local retailers and in Lyon we will be looking again to work with local brands and to take an approach that fits with the location,” he said.

NEPI Rockcastle eyes growth in CEE region

CENTRAL and Eastern European shopping mall giant NEPI Rockcastle is in Cannes to meet with retailers interested in gaining a presence in the region.

NEPI Rockcastle, which owns 56 commercial properties in the CEE region, is at MAPIC to meet with existing partners and potential investors from around the world.

Marek Pawel Noetzel, chief operating officer at NEPI Rockcastle, said that the company was reporting a strong recovery in footfall across its portfolio, with levels now at those seen before the pandemic.

He said: “We are here to increase our exposure to international retailers considering expansion into the CEE region, and to tell the story of the new Eastern Europe.

We want to establish new relationships as well as build on existing rela-

tionships, and to see what’s going on out there in the markets.”

Noetzel said that vacancy rates across the portfolio were at a healthy 2%, with high levels of demand from local and international retail brands.

He will take part in a MAPIC panel session discussing the art of rege-

CHAINELS PLATFORM OFFERS TENANT INSIGHTS

TENANT management and engagement platform Chainels is rolling out to more than 50 NEPI Rockcastle shopping centres in eight countries within CEE after signing a deal earlier this year. Chainels founder and COO Sander Verseput said that the system would offer three main uses for the CEE shopping centre owner: “NEPI will mainly use it to gain operational efficiency, improve tenant relationships and understand how tenants are performing,” he said. Initial testing of the system in two existing NEPI Rockcastle assets in Poland had seen rates of tenant-engagement of 98%, according to Verseput.

nerating and renewing commercial properties. The session, Better Than New: Bringing Locations Back to Life, will be held on Wednesday morning.

NEPI Rockcastle currently has a presence in eight markets, and owns major regional retail hubs including Forum Gdansk and Copernicus Shopping Centre in Poland and Ploiesti Shopping City in Romania.

Last month the company completed the disposal of its stake in the Promenada Novi Sad centre in Serbia, marking NEPI Rockcastle’s departure from the market. And in September the company completed the acquisition of the 100,000 sq m Magnolia Park shopping centre in Poland.

In its latest trading update, posted last week, NEPI Rockcastle reported a net operating income of €411m in the first three quarters of the financial year, up 12.3% on the same period in 2023.

The NEPI Rockcastle deal adds another 2.3 million sq m of coverage, meaning that Chainels is now serving more than 37.5 million sq m of space, he said. “We operate in 17 languages across 20 countries so we can serve any owner operator of multi-tenant properties in those markets.”

The platform can be integrated into operators’ IT ecosystems and a portfolio dashboard can also be provided which helps owners understand how their assets are performing. “We believe that with our tool you can be more successful in creating a successful shopping-centre environment,” Verseput said. “It allows you to get more insights and to collaborate better with tenants if they are not performing well. Landlords that really collaborate effectively with tenants make their shopping centres more vibrant.”

Sander Verseput, founder and COO of Chainels

Marek Pawel Noetzel of NEPI Rockcastle

Galeries Lafayette Annecy represents a new retail approach

MAPIC PITCH CONTEST

The most dynamic leisure concepts and solutions to create unique location-based experiences.

•  26th November 11.30 - 12.00

Co-organised with

•  27th November 11.00 - 11.30

Co-organised with

New retail concepts, looking to expand their offer to new locations.

•  26th November 15.00 - 15.45 “Italian Retail Pitch contest”

Co-organised with

•  26th Nov 16.15 - 16.45

Co-organised with

•  27th Nov 14.30 - 15.00

Co-organised with

The latest food concepts and solutions driving traffic and improving the customer experience in lifestyle destinations.

•  27th Nov 15.45 - 16.15

Co-organised with

Acquisitions and expansion lead to growth in sales for JD Sports

INTERNATIONAL sportswear and outdoor clothing retail group JD Sports Fashion has realised significant cross-border expansion plans up to the third quarter of 2024. The owner of retail brands including JD Sports, is in the midst of a major global rollout of stores across the entire group, in a variety of locations, as it seeks to expand its presence and market share worldwide.

The company added 1,224 stores between the start of the financial year and the end of Q3, taking its portfolio to 4,541 by the end of the quarter. JD’s global expansion was given a major boost by the acquisition this July of US sports fashion chain Hibbett. The deal with the Alabama-based company saw the JD group take on over 1,000 Hibbett stores in 36 US states. The stores will now trade un-

der the JD banner.

The growth in the company’s store portfolio has contributed to an increase in organic sales of 5.4% in Q3 and 6.1% for the year-to-date. However, an overall flat performance and “much softer consumer demand and trading” led to a likefor-like sales drop of 0.3% in the Q3 period.

JD Sports Fashion chief executive Régis Schultz said: “Against this backdrop, we maintained our commercial discipline, improving gross margin by 0.3% while still delivering 5.4% organic sales growth. In addition, we made further, strong progress on our long-term growth strategy including opening 79 new JD stores across the world.

He added: “The trading environment remains volatile though and, following October trading, we now anticipate full-year profit to be at the lower end of our guidance range.”

Uniqlo boosts results for Fast Retailing

FAST Retailing, the parent company of international fashion giant Uniqlo, has reported a strong full-year performance marked by a net profit increase of more than a quarter. The company has posted a third year of growing sales and margins, exceeding profits of ¥500bn (€3.09bn) for the first time and recorded an overall group revenue of ¥3tr.

Driven largely by the Uniqlo brand, group revenues increased by 12.2% in the year to August 31, 2024, during which period operating profit grew by 31.4%.

Uniqlo International accounted for ¥1.71tr in revenues for the period, more than half of the group’s income, itself a 19.1% increase on the previous 12 months.

Announcing the strong performance, Fast Retailing attributed much of the

success of the Uniqlo chain to a programme of reforms to its property portfolio, including a “strategy of replacing smaller, less-profitable stores with large, better-located ones”.

The soaring sales and profits at Uniqlo contrasted with a shrink in both metrics across its Global Brands operations, which includes internationally known fashion labels Comptoir des Cotonniers and Theory. In the same period profits fell by 76.2% across the division.

Fast Retailing is on an ambitious programme of store expansion across its global operations.

The company forecasts that by the end of August 2025, it will operate 3,698 stores globally, including 1,778 Uniqlo International stores and 797 Uniqlo Japan branches, including franchises.

RENTAL IS UP ACROSS EUROPE FOR CARMILA

CARMILA, the third-largest listed owner of commercial property in Europe, has witnessed a sustained growth in net rental income of 6.2% (up 3.6% like-for-like) for its third quarter, compared to the first nine months of 2023. The company is expecting recurring earnings per share of €1.65 in its full-year results for 2024, up 3.5% versus 2023. The business was originally founded by Carrefour and large institutional investors in order to enhance the value of shopping centres that sit alongside Carrefour hypermarkets in France, Germany and Italy. The growth follows strong leasing activity, the acquisition of Galimmo SCA, which was completed at the beginning of July, and the launch of a second €10m share buyback programme which is due to end by December 31 at the latest. The Galimmo portfolio, which is mainly located in the north-east of France, includes 13 shopping destinations. The 6.2% increase in net rental income includes a 4.2% positive contribution attributable to Galimmo. In the first nine months to mid-October, 724 leases were signed including Decathlon, SpeedPark – Otium Leisure, Intersport, L’Appart Fitness and Fitness Park. Leasing activity also included continued modernisation of the food service. including Krispy Kreme, Maison Pradier, O’Tacos and Signorizza. New retail banners including Normal, Balaboosté and Ultra Premium Direct have also been developed.

Uniqlo International’s Amsterdam store

JD Sports added 181 stores in Q3

Krispy Kreme in Cannes seeking partners for European expansion

KRISPY Kreme is continuing its European expansion and is on the hunt for new stores and partners in markets including Italy, Benelux, the Nordics and Eastern Europe.

The US doughnut brand already operates more than 14,000 sales points across 40 countries through its own stores, partnerships with retailers and via its ecommerce and delivery business.

In December 2023, Krispy Kreme opened its first Continental European store outside of the UK in central Paris, France via a joint venture. It will have 20 French stores by the end of this December. The company has also opened in Switzerland in the past 12 months.

Krispy Kreme has also signed master franchise agreements for Germany and Spain, with the first stores likely to open by the second half of next year once the right sites have been found.

Arnaud Van Coppenolle, senior director, international development at Krispy Kreme, is at MAPIC for the first time to connect with partners and real estate contacts to continue the brand’s expansion in Europe. “We look at prioritising the right markets and the right partners,” he said. “We need someone that understands the brand and wants to grow it.”

Van Coppenolle said the company looks for partners with expertise in the three strands of its business. These include operating restaurants, manufacturing and the logistics and delivery business.

Stores are served by a larger producing store which then distributes to local stores — which range from eight to 80 sq m — and to delivery

customers. Krispy Kreme also operates a number of Hotlight stores, which offer the theatre of doughnuts cooked and decorated in full view of customers and where customers can try a hot-glazed doughnut fresh off the production line.

Van Coppenolle will be speaking at a Food Keynote fireside chat session at MAPIC at 10.45 on Wednesday, looking at how brands such as Krispy Kreme are expanding beyond borders. In the US, Krispy Kreme launched in McDonald’s in October and will be available in nearly 2,000 McDonald’s restaurants by the end of 2024.

Strong performance for 2024 keeps Klépierre at number one in Europe

CONSISTENTLY strong leasing demand and a 4% positive rental uplift on rentals and re-lettings has helped to deliver a 5.7% year-onyear (6.3% like-for-like) increase in net rental income for the first nine months of 2024 for French shopping mall specialist Klépierre, which has an exclusive focus on continental Europe.

Some 1,280 leases have been signed over the period, up 7% in volume terms year-on-year. Retailer sales have risen 4% like-for-like, supported by a 2.4% increase in footfall. Retailer sales increases peaked at 6.2% and 6.1% in August and September respectively.

During the year, Klépierre has been integrating the €238m acquisitions of super-regional malls O’Parinor in France and Romaest in Italy, which

delivered a higher-than-anticipated performance over the summer.

In July, the company delivered the Maremagnum extension in Barcelona, Spain, which is already pos-

ting solid footfall growth up by 20% in August and 39% in September. Meanwhile, extension work at Odysseum in Montpellier, France, is advancing on time and on budget, a

spokesperson for the company said. Klépierre expects to generate a 6% increase in EBITDA for the full year and net current cash flow should reach €2.55 per share in 2024.

Klépierre has also again been recognised as the worldwide leader in terms of environmental, social and governance (ESG) in the listed retail category of the Global Real Estate Sustainability Benchmark (GRESB) which is the global ESG benchmark for financial markets. The company is also number one in the European listed real-estate category (all classes of assets). The group obtained a total score of 95/100 (up two points compared to 2023) and maintained its fivestar rating, awarded to the top 20% best-performing companies across

Signal and Eurofund sign global brands to Parma Promenade

SIGNAL Capital Partners, a multi-billion-euro UK-based private asset management firm focusing on European corporate and real estate special-situations investments, and Eurofund Group, the pan-European real estate investment and development group, continue to make progress at Parma Promenade, the landmark retail and leisure redevelopment project in northern Italy.

Following the acquisition of Parma Retail and its ongoing transformation into Parma Promenade, Signal and Eurofund Group have secured several prominent new occupiers which are set to open in Q1 2026.

JD Sports will take up 882 sq m; Kentucky Fried Chicken (KFC) will occupy 340 sq m; Doppio Malto will cover 500 sq m; Cisalfa will span 1,807 sq m; Kiabi 1,409 sq m; Arcaplanet

908 sq m; and Medi-Market 308 sq m. Stephane Hepburn, CEO, Italy, Eurofund Group, said: “We are excited to welcome these trusted leading brands to Parma Promenade. Their presence underscores our commitment to creating a vibrant and diverse retail environment that caters to a wide range of consumer preferences.”

Parma Promenade benefits from connectivity via the A1 Autostrada and serves an extensive catchment area, including the city of Parma, which has a population of 200,000.

The redevelopment project, which involves a €35m investment, will significantly enhance the retail and leisure offerings, transforming the site into Italy’s first open-air, fully integrated retail and leisure promenade.

In collaboration with local authorities, Parma Promenade has also committed €1.5m towards public realm improvements, including enhancements to the access road, improved wayfinding, signage, and landscaping.

Cash and connections are key to growth

SUCCESSFUL private equity (PE) investments in the restaurant sector require strong brand fundamentals, a capable management team and a clear and strategic plan for growth, according to a new re port from strategic advisory firm WhiteSpace Partners.

Launching this week at MAPIC, its whitepaper, More Than Mo ney: How Investors Power Restau rant Growth, suggests that there are four key areas — in addition to their financial resources — in which PE investors can help to successfully scale-up a restaurant brand.

They include adding value beyond capital through improved operatio nal processes and strategic direc tion; people and leadership by brin

ging in seasoned CEOs; helping with clearer growth and expansion strategies; and providing clearer vision for an exit plan to realise the

investment in the long term. Vincent Mourre, WhiteSpace Partners’ CEO, said: “Although the concept of scaled-up, international restaurant brands is a familiar one, it is easy to overlook how difficult it is to achieve. In a capital-intensive and hugely competitive sector, success is hard-won and failure very public, as brands such as Vapiano and TGI Fridays have discovered.”

He added: “Businesses which have proof of concept and a strong brand, have been buoyed by PE investors and nursed back to health. Although no guarantee of success, there is no doubt that the injection of fresh capital, alongside industry connections and management expertise are key drivers of growth in

CBRE AND FHP JOIN FORCES TO GROW THE UK’S DERBION

CBRE has been appointed to work alongside agency FHP on a joint-agency basis to continue the optimisation of the offer in retail and leisure destination Derbion, which sits at the heart of the UK’s Derby city centre.

The East Midlands centre has undergone an extensive repositioning in the last four years to rightsize to its regional catchment, with an improved fashion and branded offering and more quality restaurant and leisure facilities.

The work has seen around £35m of retailer investment in new store refits and upsizes since 2021, with the centre now attracting more than 15 million visitors a year.

Retailers new to the centre this year include Castore and White Stuff, while brands including JD Sports, Superdrug, Ann Summers and New Look have recently invested in refits and upsizes. CBRE will use the centre’s customer insight and data to attract new retail occupiers as well as enhancing Derbion’s leisure facilities to ensure they meet the needs of a full family day out.

The leisure offer already includes operators including Showcase Cinema de Lux, Paradise Island Adventure Golf, Hollywood Bowl and Derby Theatre.

Retailers have invested more than £35m in Derbion since 2021

WhiteSpace CEO Vincent Mourre: ‘success is hard won and failure very public’

Parma Promenade

FIRMS TEAM UP TO CONSULT ON LEISURE PROJECTS

LONDON-based BCIstudio and southwest England-based The Petersham Group are at MAPIC with their newly launched joint venture Creating Compelling Destinations, an entertainment consultancy service that highlights and recommends profitable leisure attractions.

The objective of the service is to provide a comprehensive review designed to create a leisure and entertainment offer that differentiates developments and adds unique selling propositions that stand out in a competitive market.

Sam Kirk, director of BCIstudio, said: “Our service outlines a route to implementation, helping you navigate the development process from concept to execution.”

The process of ensuring that each proposed concept is both viable and market sustainable is delivered across three stages.

The Research & Analysis’ stage includes in-depth market research, site analysis and data collection to understand opportunities.

Stage two is Defining & Refining Recommendations that involves identifying and honing the most viable concepts for the client.

The final stage covers financial modelling, revenue forecasts and risk assessments, ensuring concepts integrate seamlessly into the masterplan, with appropriate adjacencies and operational efficiencies.

Kirk added: “With our deep understanding of leisure and entertainment trends globally, we bring our expertise to each project, ensuring the final content mix is tailored to the local market’s unique demands and opportunities.”

TORG rebrands in Europe to deliver next-generation outlets

THE INDEPENDENTLY owned and operated European arm of American outlet specialist The Outlet Resource Group (TORG) has rebranded as Outlet Insight to reflect better the company’s expertise and experience. The group works with owners and developers to deliver next-generation premium outlets in Europe and emerging markets worldwide.

The Outlet Insight management team has a long track record in the European outlet sector. The team includes Robert van den Heuvel, director of leasing and legal; Barbara Horatz, director of marketing and retail; and Neil Thompson, director development and operations. They provide expertise at all stages of outlet development, from initial feasibility and design through to positioning, financing, leasing, management and investment exit.

‘‘After several successful years of marketing affiliation and co-operation with our US counterparts, we felt we needed a new company name that better reflected our comprehensive approach — to provide all the necessary insight into the world of outlet development and

management,” Horatz said. One of Outlet Insight’s activities at MAPIC is the promotion of Malmö Designer Village in Sweden, whose catchment extends to greater Copenhagen and which is now owned by the Frey Group.

Eurocommercial reports retail growth

IN ITS third-quarter results, Dutch real estate company Eurocommercial Properties has reported overall retail sales growth across its 24 shopping centres of 2.3% for the nine months to the end of September compared to 2023, and 3.1% for Q3 alone. Most retail sectors continued to show positive sales growth, with the outstanding performers being sport (7.3%), health & beauty (7%), books & toys (6.1%), services (4.7%) and F&B (4.3%).

The company said rental growth for the 12 months to 30 September 2024 was 3.8%, mainly due to rental indexa-

tion and higher turnover rent. 99% of rents for the first nine months of 2024 had already been collected, indicating that there continues to be a full passthrough of indexation to tenants who are generally trading well from an affordable rental base and a low overall capitalisation rate (OCR), which still averages only 9.8%. Eurocommercial’s letting teams continued to report steady leasing momentum, negotiating 264 lease renewals and relettings for the 12-month period ended September 30, 2024.

At Carosello in Milan, MediaWor-

ld relocated into the former Coin department store (around 3,000 sq m), thereby creating the retail space and opportunity for a major remerchandising project to include a full format Zara store of around 4,600 sq m (previously 1,600 sq m); a new Bershka (800 sq m); an enlarged Stradivarius (550 sq m); and a new H&M (1,608 sq m).

In Brussels the last phase of the remerchandising project at Woluwe Shopping has been finalised with the full refurbishment of the 12,000 sq m INNO department store completed.

Barbara Horatz, director marketing and retail at newlyrebranded Outlet Insight

Sam Kirk

Carosello Shopping Centre

MAPIC IS COMMITTED TO INCLUSION

Keynote Retail

27 November – 14.00, Studio

Didier Roche

Discover a success story that innovates and breaks down barriers with inclusive retail.

27 November – 15.30, Arena

Talking about my generation

An exchange between students from ESPI and Université Paris I Sorbonne and professionals.

Discover our accessible map

Navigate with complete autonomy (tailored routes for people with disabilities).

Rest in our Quiet Room a safe space to retreat whenever you feel overwhelmed. NEW

We are working with GreenBee Upcycling to reduce our carbon footprint while promoting employment and integration programs.

GreenBee Event Upcycling is a not for profit association based in Cannes whose aim is to promote the reduction of various wastes materials linked to the event industry.

10.00 - 10.30

Expert Insights: the path to growth

• Deals, debt and delivery: How the retail real estate market is shaping up for 2025.

• Effective asset management for the new retail mix.

• Transformation of retail: How to make the most of it

11.00 - 11.30

Investor sentiment: Retail back in the spotlight in Europe?

• Will investor sentiment towards retail property catch-up with operational performance?

• The right assets for investment

• Pricing: More movement as vendor and buyer expectations get closer

- 16.00

The shopping centre as a stage

• Bringing entertainment, education and culture to malls

• Driving traffic: Attractions, activations and pop-ups

• Measuring impact: Using data to optimise value

16.30 - 17.00

TEA presents: New Entertainment concepts that can differentiate your destination

• Emerging Trends and Concepts

• Maximize the revenue potential and expand your catchments

• Create awareness and social media engagement

17.30 - 18.00

Leisure & highstreets: the perfect mix

• How leisure can be a catalyst for urban regeneration and town regeneration

• Repurposing units to add to the destination mix

• Data, metrics and measuring the positive impact of change

12.00 - 13.30 Outlet Summit

TUESDAY 26 NOVEMBER

CONFERENCE PROGRAMME

How to transform 600 sq m into a footfall magnet?

• Turn your space into a profitable and popular destination

• SpaceKart: revolutionized leisure concept for a wide target audience

• Creating differentiation while others are losing appeal

Organised by 10.30 - 11.00

11.30 - 12.00

Transform faster, convert better, sell more with Ingka Centres Futures: the launchpad for retail innovation

• Recognizing tomorrow’s customer needs

• Forging partnerships for retail innovation

• Calling all future-driven companies to collaborate

Organised by 11.30 - 12.00

Leisure Pitch

Your chance to hear from new leisure concepts and formats. Winner

Innovation Pitch

Discover the latest innovations to increase the performance of your stores and retail destinations.

Discover why the experiential leisure and competitive socialising market is growing rapidly and how to tap into its potential

• Who is visiting and what draws them back?

• Bringing value to varied real estate spaces

• Opportunities for growth

Organised by

14.30 - 15.00

Innovation Pitch

Discover the latest innovations to increase the performance of your stores and retail destinations.

Shaping the future of retail and commercial real estate in Morocco: a strategic partnership offering 360° solutions

• Morocco: the go-to market

• Bringing solutions to the whole ecosystem

• Long term vision at country scale

Organised by 15.30 - 16.00

16.30 - 17.30

Limassol Calling: A New Hub for Global Retail and Business in the Heart of the Mediterranean

Followed by a cocktail at 17.00

• Why Cyprus is the ideal location for commercial success, with its strategic position connecting Europe, Asia, and Africa

• Insights into Cyprus’s booming commercial landscape, from retail demand to opportunities in business centers

• A cutting-edge new mixed-use project designed to attract leading global retailers and businesses

Organised by

Our annual focus on the dynamic and expanding designer outlet sector.

This networking lunch brings together outlet developers, retailers and investors. 14.30 - 16.00

Italian retail Pitch

Hear from new Italian names and brands in retail, looking to expand their offer to new locations.

Winner revealed at 15.00 - 15.45

Retail without border: international expansion pitching & networking session

Mapic special retailers’ selection for landlords: come and listen to retail and leisure brands set for international expansion in France, UK, Germany, Italy and Spain.

Winner revealed at 16.15 - 16.45

& Urban Regeneration Summit

The must-attend event on mixed-use and retail urban regeneration projects. This summit looks at how these new projects are reinventing urban landscapes to make cities attractive for retailers and meet the needs of communities. This event brings together landlords, retailers, international cities and investors.

Unlocking the Digital Dream: How to Make it a Reality

• Drive sales and deepen customer engagement with a powerful digital strategy.

• Cultivate loyalty through connections between brands, partners, and consumers.

• Create digital experiences that captivate and deliver real impact.

Organisée par 15.30 - 16.00

16.30 - 17.00

Pour une implantation réussie : comment les villes vous accueillent et vous accompagnent ?

• Implantation et intégration : La ou le manager de centre-ville au service de vos projets

• La ville, source d’information sur les aides et subventions locales à l’implantation

• Vision à long terme : comment s’intégrer dans les grands projets urbains à venir

Organised by

This session is in French

17.00 - 18.30 Multi-Unit, Master Franchise & Travel Operators Summit

An exclusive networking event bringing together international franchise partners and a selection of leading retail and restaurant brands who are expanding globally

Palais -1

Riviera

Leisure beyond frontiers:

Property Keynote

emotion the ultimate element of the new retail equation? What brings people out of their homes?

12.00 - 12.30

Eric Costa, President Citynove Asset Management

Leisure Keynote

Gaëtan Le Jariel, President Gulli Parcs

Hear them speak today at MAPIC

Eric Costa President CITYNOVE ASSET MANAGEMENT

And many more… Check the full conference programme

Sally Bruer Head of EMEA Logisitcs & Industrial and Retail CUSHMAN & WAKEFIELD

Daisy Van Gend Innovation & Development Leader INGKA CENTRES

Matthieu de Mallmann Global Head Retail and Healthcare AXA IM ALTS

Michael Purefoy Head of Asset Management ENTRECAMPOS

David Green Vice President of Real Estate GUESS JEANS

Tim Wilks CEO

Roman Müller Head of Investment Management Retail UNION INVESTMENT

Florent Penavere Head of International Leisure Development NHOOD

Ben Chesser CEO CONIQ

Tom Lionetti-Maguire Founder and CEO

Gaëtan Le Jariel President GULLI PARCS

Alex Hill Leasing Manager, Restaurants and Leisure HAMMERSON

Béatrice de Quinsonas Drouas Directrice de recherche BPCE SOLUTIONS IMMOBILIÈRES

Eric Decouvelaere

PALAIS -1 (Aisle M to N)

WALK IN OUR RETAIL GALLERY

Meet our handpicked selection of brands poised for ambitious international expansion.

Download the Observatory of cross-border retail & food

Meet them at the Retail without border: international expansion pitching & networking session

• 26th Nov 16.15 - 16.45

Co-organised with

• 27th Nov 14.30 - 15.00

Co-organised with

• 27th Nov 15.45 - 16.15

Co-organised with

‘World-class brands’ destined for new Canary Wharf development

CANARY Wharf Group (CWG) has agreed a deal with Imbiba, the specialist leisure, lifestyle and entertainment investor, to open a 6,039 sq m hotel, restaurant and music venue at 12 Bank Street. The building, in the heart of east London’s Canary Wharf business district, will open in 2025,

housing several of Imbiba’s brands including a 78-bedroom House of Gods Hotel, an Amazing Grace music venue, a rooftop bar overlooking Eden Dock, and a new events facility to be operated by Camm & Hooper. Stuart Fyfe, managing director of retail, leisure and hospitality at

CWG, said: “Imbiba’s line-up of world-class brands will further enrich the provision of evening entertainment, provide event venues, and bring another hotel to the Wharf. We continue to enhance the offer at Canary Wharf across retail, leisure, hospitality and competitive socialising to curate a thriving seven-day destination for all those who work, live and visit the wharf.”

Fyfe said visitors to Canary Wharf are at an all-time high — 7.5% up in the year to date compared with 2023, which saw 67.2 million visitors. “We continue to see strong demand across our retail, leisure and hospitality offer with 97% occupancy.”

Kieran Sherlock, partner and property director at Imbiba, added: “Imbiba has a long-standing and very successful partnership with CWG, which this investment seeks to build on further. We cannot wait to bring our exciting and cutting-edge concepts to this truly remarkable building in the very heart of Canary Wharf.”

Diriyah mixed-use project on show in Cannes

SAUDI Arabian developer Diriyah Company is in Cannes to promote the retail opportunities at its flagship 14 sq km mixed-use project.

The company is in the midst of a major SAR 236bn (€60.3m) works to transform the historic Diriyah Square site on the outskirts of the capital Riyadh and deliver more than 566,000 sq m of new retail space.

The scheme is close to the site of the Wadi Hanifah, in the region of the historic Emirate of Diriyah, described as the setting for the “birth of the Kingdom of Saudi Arabia”.

A number of senior figures from the Diriyah Company team are in Cannes to meet with potential retail and investment partners.

Alfie Gibbs, chief development officer at Diriyah Company, will address

delegates at the Retail and Urban Regeneration Summit on Tuesday afternoon. He will also host an exclusive invitation-only briefing for interested parties to lay out the opportunities the project offers.

The Diriyah Square development is set to deliver a range of new uses, including shopping, leisure, food, heritage and education spaces, and more than 18,000 residential units and 1.6 million sq m of office space.

CONNECTING SHOPPING MALLS AND BRANDS

DIGITAL retail platform Shopingy is showcasing its worldwide service that aims to bridge the gap between shopping malls and tenants at MAPIC. The diverse clientele includes shopping centres, malls, factory-outlet centres, retail parks, transport hubs and other mixed-use properties.

Michel Žalac, senior advisor and consultant at Shopingy, told MAPIC News: “Shopingy provides a unique way to connect real estate with the right tenants and help brands secure the best locations. We leverage accurate, simplified data and insights to optimise leasing, asset management and expansion decisions. We do this by using open-source intelligence (OSINT) and our proprietary way of capturing and analysing the data.” Major real estate companies already utilising the service include ECE, Klépierre, Cushman & Wakefield, NEPI Rockcastle, Nhood, G City Europe and Spar European Shopping Centers, alongside global brands Pandora, Rituals, JD Sports, YES, Humanic, Fruitisimo, S’Oliver, Grand Optical, Fade and Kahls The & Kaffehandel. Shopingy encompasses more than 5,500 commercial retail locations, 236,000 stores and 1,300 brands across 1,934 cities. The platform also enables consultants, agencies and investors to monitor changes in tenant structure of malls, and behaviour of stores and brands in individual markets.

The mixed-use Diriyah Square project

12 Bank Street, Canary Wharf

New European outlet projects follow Frey’s acquisition of ROS

ROS RETAIL Outlet Shopping and the Frey Group are at MAPIC showcasing major expansion at four premium outlet shopping destinations, as well as two new developments set to be completed within two years. Frey acquired ROS in July this year. The new development projects include the Malmö Designer Village in southern Sweden. Operating as an in-house division of Frey, ROS will oversee the management and operation of the project, with Rioja Estates and Outlet Insight (previously known as TORG) continuing as key partners. The first phase of Malmö Designer

Village, which will deliver 90 stores over 18,000 sq m, is due to open in 2026. A second phase, adding an additional 8,000 sq m, will follow. Upon completion it will become the largest outlet centre in the Nordic market, showcasing more than 130 Scandinavian and international brands.

In Poland, construction is at an advanced stage for Designer Outlet Kraków which is scheduled to open in spring 2025. It will host more than 100 stores over 20,000 sq m, as well as 10 restaurants and cafés. Also in Poland, Designer Outlet Gdansk’s extension and new food

court is due to open by the end of the year. It will add 2,000 sq m that will include 10 new stores and seven new restaurants.

In Portugal, a centre extension adding 4,000 sq m of gross lettable area and up to 25 new stores is due to be completed at Designer Outlet Algarve by May 2025. Designer Outlet Algarve already boasts a robust premium line-up of over 70 international designer, fashion and lifestyle brands, including Adolfo Domínguez, Bimba y Lola and Tommy Hilfiger.

In City Outlet Geislingen, in Germany, the centre is is expanding by 650 sq m — four new stores — and is due to open by late summer 2025. As part of this expansion, a new customer car park with a northern entrance was constructed and opened in spring 2024. City Outlet Geislingen currently hosts over 40 home, fashion and lifestyle brands in 25 stores. Finally, due for completion in the third quarter of 2025, is a 6,000 sq m expansion to Designer Outlet Croatia, introducing 30 new stores. The adjacent Ingka retail park will occupy 12,000 sqm and 10 new stores.

Altarea on track with Paris-Austerlitz

THE ALTAREA Cogedim division of French property development and investment group Altarea is currently engaged in a major project on the Paris-Austerlitz railway station, the largest of its kind in Paris, where it will deliver 25,000 sq m of retail space at the heart of a rejuvenated district. The retail offer will house 120 stores and brands. Due to take shape by 2027, the mixed-use scheme will include the extension of Marie Curie Square, new shops, services and restaurants, leisure and cultural facilities, housing for families and students, as well as offices and hotel accommodation.

Altarea posted mixed results for the first three quarters of the year compared with 2023, seeing consolidated revenues fall by 8.4%, despite an increase in income from its retail pro-

perty development division, Altarea Commerce. The retail arm bucked the trend with a like-for-like sales growth of 7.7%, an increase of 5.2% in the revenue from retail tenants and a 1% increase in footfall at its shopping-centre sites. Altarea

Commerce operates €5bn in retail assets, across 42 sites in France and globally. It has developed and manages shopping centres, mixed-use retail entertainment and leisure sites, retail parks, convenience stores and travel-retail hubs.

CUSTOMERS PROFIT FROM GUESS RECYCLE SCHEME

US FASHION retailer Guess Inc has launched a customer recycling programme in partnership with SuperCircle, the textile recycling platform. The Guess Again scheme allows US customers to request a shipping label through the Guess website and send in worn clothing items from any brand. SuperCircle manages the tech interface, collection, sorting, processing and disassembly of items at facilities around the country. It then gets the items to best-in-class, fibre-specific textile recycling partners. In exchange for responsibly recycling, customers immediately receive Guess credit for future purchases. Guess CEO Carlos Alberini said: “Our partnership with SuperCircle represents another strong step toward our Action Guess commitment to develop more circular business models. Guess Again creates a new pathway for us to reduce our carbon footprint and offers a solution for apparel and textile waste.”

Chloe Marie Songer, CEO and co-founder of SuperCircle added: “With 85% of textiles ending up incinerated or in landfills and 92 million tons of textile waste generated each year, accessible, value-creating textile recycling programmes have never been more needed.”

The initiative complements the brand’s in-store customer recycling scheme in partnership with Homeboy Threads, through which customers can bring in five or more articles of clothing of any brand to any Guess store across the US and Canada and receive a discount on their next full-priced qualifying purchase. Items are then sent to Homeboy Threads to be sorted and processed for repair and resale, upcycling and recycling.

Altarea is currently engaged in a major project on the ParisAusterlitz railway station

Malmö Designer Village will open in 2026

Dans le Noir? plans to spread darkness across the world

A COMPANY offering the “unique” experience of dining in the dark is attending MAPIC for the first time as it embarks on an expansion and diversification strategy that will bring fresh concepts and further openings to cities around the world.

Dans le Noir? — French for In the Dark — burst onto the Paris restaurant scene 20 years ago with its pitch-black eating experience, making headlines around the world.

Since then, co-founder Didier Roche has expanded the company, initially within France and then cross-border, with openings in Brussels, Geneva, London, Madrid and other locations in Europe, with further sites planned for 2025.

Roche, who will give a MAPIC keynote speech on Wednesday afternoon, is in Cannes to meet with potential real estate partners, developers and owners who can take the concept forward to new markets.

Speaking to MAPIC News, Roche

said that he aims to double the number of cities with a Dans le Noir? restaurant, currently standing at 15 around the world; a further site is coming in Hong Kong early in 2025. Roche is also looking to introduce and expand the rollout of new

concepts, including an in-the-dark spa and massage experience, an escape game, and more diversified, hybrid offerings based around the original darkness concept.

“I think that we could potentially be in 30 cities in five years,” he said. “We want to meet property owners, developers, investors and hotel companies for talks about deals in the future.

“It’s an experience and something that people remember forever. It’s unique. It helps people to learn about food, and about people. People are interacting in the dark so they don’t look at skin colour, or think about appearances.’’

He added: “And because we don’t allow people to use their phones in the dark space, it’s also a digital detox.”

There are currently five French Dans le Noir? sites, and one in each of the capital cities of Switzerland, Belgium, the UK, Russia, Spain, Luxembourg Egypt and New Zealand.

Miniso to open its first UK outlet store

CHINESE retailer Miniso has announced at MAPIC that it will be opening its first UK outlet store at London Designer Outlet (LDO) as the Wembley Park shopping destination continues a busy period of leasing activity. Miniso has agreed a two-year lease to occupy a 125 sq m store and is set to open ahead of the Christmas period, offering LDO shoppers its range of innovative toys, tech and stationery, from well-recognised brands including Hello Kitty and Friends, Disney, BT21 and Minions.

LDO is in the heart of Wembley Park, one of London’s largest development schemes that has transformed a long-neglected area around the national stadium into a vibrant London district. Matt Slade, retail director at Quintain, the developer of Wembley Park, told MAPIC News that Miniso had pulled out all the stops to be open in time for Black Friday (November 29).

In recent weeks LDO has also welcomed fashion retailer French Connec-

tion and beauty/wellbeing retailer Rituals to Wembley, further diversifying its mix of international brands. Slade said it had been a great year, with LDO having had seven of its best trading months in the last 10 months.

He said retailers are seeing the value of outlet as part of the retail channel.

“It gets their ranges and products directly to a young customer in an urban-outlet setting. Where people’s discretionary spending is challenged, value is sought and people are coming to the LDO in greater numbers,” he said. Slade added that LDO

benefitted from a diverse catchment area that included both local customers and those visiting the numerous events at Wembley Stadium.

Founded in 2013, Miniso has a rapidly expanding portfolio of stores across the UK with 30 now open, and its first UK outlet store aims to provide an enhanced sense-of-fun shopping experience that will appeal to LDO’s younger-than-average customer base.

Saad Usman, chief operating officer at Miniso UK, said the opening of its first UK outlet store was a “major milestone’’ in the company’s UK expansion.

IS YOUR BRAND RIGHT FOR BRUSSELS?

HUB.BRUSSELS, the economic development agency of the Brussels region, is at MAPIC this week to connect with European businesses looking to expand into the area, as well as for opportunities for Brussels businesses to expand outside of Belgium. It is particularly targeting companies in France, Germany, Italy and Turkey.

Olivier Costa, economic counsellor and commercial representative of the Brussels government at Hub.brussels, said that as well as the opportunities within Brussels itself, the region also offers an interesting testing ground for brands wanting to expand into Northern Europe.

However, Nicolas Dehon, retail advisor for Hub.brussels, said that the agency looks for companies that match the spirit of the city and provide something unique.

“We want to fight the standardisation and to invite different types of retailers,” he said.

Hub.brussels offers a free service to businesses looking to expand.

As well as general advice and introductory services, it also offers useful data tools, available in print and online, that include detailed information about the various districts of Brussels, retailers present, footfall and consumer-shopping trends.

“Our book of data focuses on 29 neighbourhoods but more are available in the online tool,” said Juan Vazquez Parras, data analyst at Hub.brussels. “With all of that data companies can see if the district fits their brand.”

Hub.brussels’ Nicolas Dehon (left), Juan Vazquez Parras, Cécile Veyne and Olivier Costa

Miniso is opening its first UK outlet store

Dans le Noir? co-founder Didier Roche

New AI-powered tool collects retail sales data in real time

UK PROPTECH company

Mallcomm is at MAPIC showcasing its new AI-powered tool, which allows landlords to collect retailer sales data in real time and forecast future cash flow. It says the new tool is vital for the adoption of turnover-based leases and will underpin more accurate valuation of retail assets.

David Fuller-Watts, chief executive of Mallcomm, said the new tool can benefit landlords and their tenants in several ways: “It closes the loop between the ability to create time savings and efficiency in collecting and storing sales data, but also being able to give tenants information back.”

Fuller-Watts said this was an important point. “You create the reasons for them to share that data in the first place. A lot of the challenges that landlords have [had] is the ‘what’s in it for me’ question,” he said.

The new AI-powered sales collection and data insights tool is a module available as part of the wi-

der Mallcomm enterprise software platform for commercial property management. It allows property owners to collate and integrate data on sales volumes and densities on a monthly, weekly or daily basis with thousands of occupiers, streamlining how data is shared and used. As well as speeding up how such data is collected the tool also enables granular analysis of the data,

allowing landlords and property owners to instantly see sales and operational performance across all properties, zones, brand categories and individual businesses. By using the AI engine, users can start to predict and model what could happen if they adjusted the leasing space, allowing a closer alignment of property operations with leasing strategies. “You are providing real information back — such as ‘this is what your sales could be if you do these things’,” Fuller-Watts said.

The Mallcomm platform, whose functionality includes communication, security and operations, is live in more than 1,000 commercial destinations globally, including British Land, Hammerson, Oxford Properties and Unibail-Rodamco-Westfield. Mallcomm also announced today the acquisition of UK-based MyTAG, a global software and technology company that offers a range of security tools.

Outlets are ‘jewel in the crown’ of retail

EUROPEAN outlet-centre sales are set to grow to €30bn by the end of 2028, according to the Ken Gunn European Outlet Industry Review 2025. The annual report, which examines outlet centres in 35 countries across Europe, found that sales across the region’s existing 210 outlet centres hit €23bn in 2024, up 23% from 2019. Floorspace across Europe, which has grown by 40% since 2014, is predicted to grow by another 7% via extensions and new outlets, according to the report.

“The outlet centre remains a gleaming jewel in the crown of the retail property sector and, given the projected growth over the next few years, it will continue to be so,” said managing director and report author Ken Gunn of Ken Gunn Consulting.

The report ranks the top-five outlet centres as Bicester Village in the UK, Serravalle in Italy, Roermond in the Netherlands, La Roca Village in Spain and Noventa di Piave in Italy. The top-

five most improved outlet centres include Seville Fashion Outlet in Spain, Fashion House Pallady in Romania, Designer Outlet Algarve in Portugal, Oslo Fashion Outlet in Norway and The Mall Sanremo in Italy.

Gunn, who will be speaking at the MAPIC Outlet Summit at 14.00 on Tuesday, says that 588 additional brands have appeared on the outlet scene since July 2023 alone. Rituals is expanding fastest, with 14 additional stores across the sector in Europe.

That is followed by Jack & Jones with 12 more stores, Under Armour and Swarovski with 10 each and Skechers with nine. The top-five occupiers in European outlet centres include Levi’s, Guess, Adidas, Tommy Hilfiger and Puma. France, Germany, Italy, Poland, Spain and the UK account for 70% of all European outlet stores.

Gunn said that further consolidation of the sector is likely. “There are still just 34 operators in Europe who manage

Centermanagement’s

SOLAL AWARDS BACK FOR 2025

RETAIL and leisure-marketing professionals are being invited to apply to the revived Solal Awards, recognising talent in the industry.

Dating back to the 1980s, The Solal Awards have traditionally been some of the most sought-after prizes for retail property marketing professionals.

Now after a period of hiatus, caused in part by the pandemic of 2020, the awards have been reborn for 2025.

Speaking to MAPIC News, one of the judges said that the revival of the awards reflects the fact that marketing is more important than ever to real estate developers and place-makers.

more than one outlet centre,” he said.

“Single outlet site owners and operators who have limited power for negotiation, outlet operating skills sets and leasing resources, may find those to be limiting factors. Investors will consolidate individually-owned centres and smaller portfolios into larger, strategically managed and value-added portfolios in the next few years.”

Anita Stampfl, head of special projects at HBB Centermanagement and board member of the new Solal Awards, said: “Marketing has changed tremendously over the years.

“It’s not as simple as in the old days. You have to have great ideas, and be creative, often with smaller budgets than there used to be. It’s getting more and more challenging.”

Marketing professionals have until January 31, 2025 to apply for up to 11 categories of award, covering all aspects of modern retail and leisure marketing. The winners will be announced at a ceremony to be held in June next year, at a venue to be announced.

“There are so many great marketing initiatives going on in retail spaces around the world. They need to be celebrated and people need to be made aware of them.

“People need to see what can be done; they need to be brought back together to exchange ideas.”

HBB

Anita Stampfl, a judge for the Solal Awards

Ken Gunn, managing director of Ken Gunn Consulting

David Fuller-Watts, chief executive of Mallcomm

Mixed-use schemes are returning to city centres

Europe’s city-centre malls are being transformed into mixed-use schemes, with developers looking to create projects that help to regenerate their urban surroundings and appeal to a broad range of visitors, workers and residents. Mark Faithfull reports

THE DEFINING feature of many shopping-centre schemes during the peak years of development was their location out-of-town, often as direct rivals to the city-centre retailing that already existed. But the current crop of development and redevelopment across Europe is very much focused back on the city centre.

The other distinguishing feature of many of these contemporary projects is that they are no longer solely about retailing, often combining and mixing uses such as offices, leisure, F&B and residential to create

diversified locations.

One of the largest such projects near completion is Brookfield Property Partners’ Potsdamer Platz in Berlin, which the US investment giant paid more than €1.3bn for in 2016. Once divided by the Berlin Wall, Potsdamer Platz became Europe’s largest building project when the wall came down and had been completed as a largely office-led scheme, plus the Arkaden shopping centre.

Eight years on from Brookfield’s acquisition, much of a phased redevelopment and transformation has

“We have now got around 80% of the space open, with 96% leased”

Karl Wambach

been completed at a cost of more than €200m, also encompassing improving the public realm, closing off some streets to create pedestrian walkways and introducing more bars, cafés and differentiated retail offers in a process that is nearly complete.

Managed by ECE, Arkaden has been rebranded as The Playce after construction started in January 2020 and was completed in September 2022, ahead of bringing in a largely new array of tenants.

“We reopened with just a few retailers, and we are in the process of proving the concept, as we have now got around 80% of the space open, with 96% leased,” Brookfield Property Partners Europe president Karl Wambach says.

Key to the transformation was to remove the vertical links between

Potsdamer Platz.

Photo: Robyn Steffen

Un nouvel enseignant sur trois quitte la profession dans les cinq ans p. 9

Aide à l’Ukraine : tous contre Viktor Orban pp. 12-13

“Ne pas débattre, ne pas échanger par peur de la vindicte populaire, c’est terrible.” Salomé Lelouch

Près d’un bâtiment bruxellois sur deux, mal isolé, sera passible de sanction dès 2033 pp. 20-21

the ground and upper floors to clear the central internal passageway and to turn the environment into a modern-day arcade. The distinctive glass roof was retained, while some retailers trade over two floors, and leisure and offices sit above some others.

The first European NBA store; a sustainability-led Peek & Cloppenburg department store; Dutch games operator Game State; UK cocktail bar The Alchemist; Prague-based food hall Manifesto Market; UK bowling concept Lane7; and Amsterdam-based leisure attraction Upside Down; have all opened since.

Café EL&N is to open shortly, while the delayed Mattel superstore is expected to open in the first quarter.

“The key was to differentiate from the other malls and to create an environment that had lots of different activations and which offered visitors a variety of urban moments,”

Brookfield Properties Europe senior vice-president Katharina Treiber says. “We wanted to create a unique inner-city space with retailers who were ideally first in Europe, if not first in Germany or at least first in Berlin.”

Another developer leading the regeneration of inner-city schemes is Ingka, retailer IKEA’s real estate sister business, which has been active in the US, having developed a downtown San Francisco mixed-use

project and with ambitions to open in more North American cities.

“When it comes to Saluhall [the food hall concept it debuted at the scheme], we are doing much better in terms of visitors than we could have anticipated. Then, of course, whenever you do well, you have to fine-tune certain things, and it’s the same also with the co-working space that is also ahead of budget,” Ingka managing director Cindy Andersen says of learnings from the project.

The developer is taking that co-working concept to Italie Deux, the mall it acquired in Paris last year, while in Brighton on the south coast of England an IKEA store will open at the former Debenhams department store next year after Ingka’s acquisition of the Churchill Square shopping centre.

“We are working with IKEA, looking at Europe’s larger cities for urban locations, acquiring existing property and focused on quality,” Andersen adds. “We have to be sure that it’s both the right location and then the right asset, since we are very long term. The challenge is constantly to develop spaces that are relevant, because if you lean back and do what you always did, you will not attract people.”

Ingka Centres also recently signed a purchase agreement with Pasing Arcaden — a subsidiary of Uni-

bail-Rodamco-Westfield Germany — to acquire one of Munich’s largest shopping destinations, Pasing Arcaden. The retail-anchored mixed-use development, which has more than 53,000 sq m gross leasable area, offers a mix of flagship retail, residential units and work spaces. Located in the densely populated Pasing-Obermenzing district, to the west of Munich’s city centre, the property attracts 10 million visitors per year.

Positioned right next to Pasing station — which attracts 85,000 commuters per day as Bavaria’s third-bu-

Ingka Centres’ Pasing Arcaden in Munich

URW Hamburg

all’osservazione della complessità delle relazioni tra le imprese di produzione, la moderna distribuzione e i sistemi e servizi collegati

siest railway hub — the property is in a prime urban location and Ingka Centres will once again be looking to bring in its stable of new offers, and an IKEA store, to the scheme.

Also in Germany, Forum City Mülheim, centrally located in the city centre of Mülheim an der Ruhr in the Nordrhein-Westfalen area, currently focuses on convenience shopping and offers a wide range of local products, shopping, fashion and lifestyle. Originally built in 1973/74, the 52,000 sq m shopping centre has been adapted several times but is set to be transformed to create a health treatment and care centre, which will be located on the first floor under the Forum Medikum brand, a concept that investor CRI and asset manager Multi Germany believe is unique in Germany.

Forum Mülheim, which includes around 80 stores, is being remodelled during full operation and the redesign follows the principle of “healing architecture”, the companies say, aimed at reducing stress for customers.

Another mixed-use project planned as a new vibrant destination in the southern part of Warsaw is Wilanow Park in the Wilanow district, one of the most affluent areas of the Polish capital. The project by Ceetrus is located on a 7.7 ha plot in Miasteczko Wilanow next to the southern Warsaw ring road, a housing estate designed in accordance with the principles of sustainable development and the 15-minute city concept.

The Project Wilanow Park combines a shopping mall, F&B and leisure, plus a 2 ha park and community centre, and includes solutions to reduce the total carbon footprint including photovoltaic panels, LED lighting, sustainable waste management in the form of recycling of building materials, the establish-

ment of city and cargo bicycle stations, electric car charging stations and car-sharing zones. Similarly, winner of the C40 Reinventing Cities tender, the Piazza Loreto project is set to transform the current square Piazzale Loreto — a historical and central traffic junction — into a welcoming, inclusive, smart and sustainable public place full of services, retail and F&B concepts, together with events and temporary exhibits.

Developed by Nhood Italy and designed with an integrated approach involving local communities, Piazza Loreto in Milan is one of the first examples of the regeneration of an existing square in the middle of a city, completed by a partnership between public and private players. Set to open in 2026, it has a total GLA of 8,000 sq m and will feature over 40 retail and F&B units when completed.

But the largest urban regeneration project currently under way in Europe is the Westfield Hamburg-Überseequartier, which is set to open in Q1 2025 and has been

“We are doing much better in terms of visitors than we could have anticipated ”

Cindy Andersen

designed as an integrated district and central part of HafenCity in Hamburg. It will connect places to live and work with an array of new cultural offers and leisure facilities, plus retail, entertainment, a 10-screen cinema, international and local restaurants, bars and cafés, medical and wellbeing centres as well as a cruise terminal.

With this mixed-use development, Unibail-Rodamco-Westfield (URW) says that it is showcasing its “vision to play an active part in the sustainable transformation of cities, connecting future-oriented models for urban living with the historically developed Hamburg identity”.

In line with its sustainability strategy, Better Places 2030, Westfield Hamburg-Überseequartier will include various modes of sustainable mobility, including e-vehicle platforms, smart shuttles and the implementation of intelligent logistics and traffic-control systems, while all the redeveloped buildings are certified BREEAM Excellent and the office buildings DGNB Gold.

Piazza Loreto

Wilanow Park Ceetrus

New Retail Gallery reflects return to confidence in the marketplace

While economic and political uncertainty continue to weigh on the retail sector, many brands have pushed ahead with expansion. At this year’s MAPIC a dedicated area and activities will highlight those gunning for growth. Ben Cooper reports

AFTER years of tension and pressure on retail property — some part of a wider economic picture, some sector-specific — there are now tentative signs of a more stable period ahead.

There are still big-picture worries and the same doubts and uncertainty hanging over real estate as a whole are impacting retail. The latest annual Emerging Trends in Real Estate Europe report, produced by PwC and the Urban Land Institute (ULI), spells out some of these anxieties. A survey of 1,143 European real estate professionals revealed the number-one worry over the next five years was international political stability, about which 85% of respondents said they were either ‘concerned’ or ‘very concerned’.

Just behind this — among 83% of respondents — was the threat of escalation of ongoing wars in Europe and the Middle East, followed by general economic instability in Eu-

rope, at 77%. But the same investors also see major opportunities in retail property, and opportunities being created “as malls evolve into a more mixed-use format, particularly in city-centre locations”.

As one senior property professional told PwC: “We come from a very retail-orientated background, then morphing into mixed use and living, and it’s all linked to our investment thesis of consuming, living and working”.

Far from troubling investors and developers at the forefront of the industry, this will be the precisely what the smart ones are already making plans for — as insurance against the wider uncertainty. The future, they know, is about the intelligent integration of property uses — shopping, leisure, dining and experience — into larger, diverse, centres capable of attracting an equally varied customer base.

And Marie Hickey, director of commercial research at Savills, says that there is another interesting shift

going on, from which the property sector can reap the rewards.

She says: “Retailers have learned something from the pandemic — it’s expensive to do too much of your business online because of the cost of things like logistics have gone up significantly. The cost of return logistics has just boomed.

“So you’re seeing some retailers rebalance their omnichannel activities and look at physical retail to rebalance their margins. It’s a good story for landlords and investors,” she adds.

But for those landlords and investors, arguably more interesting than the big macro trends are the who, the what and the where: which retailers are expanding, what are they looking for, and where are they looking to go?

That is where the deals are and that is where the valuable information lies when it comes to getting units, centres, high streets and cities occupied and trading.

MAPIC this year has compiled a selected array of brands with particularly active expansion plans throughout Europe in the new Retail Gallery, spanning numerous sectors, retail, leisure and food. Each of these companies has its own set of requirements, and each offers a unique addition to

Japan’s %Arabica has its sights set on Europe

Savills’ Marie Hickey

the places they intend to set up shop. These include luxurious French gastronomy brand Fauchon. Founded with humble beginnings in 1886, since 2018 Fauchon has been in international expansion mode. The brand now covers a major area of the retail globe, with more than 60 shops and cafes throughout Europe, Asia and the Middle East.

Fauchon has achieved significant expansion over the past six years — and has plans for much more in the near future, starting at MAPIC. The company is considering a breadth of locations and sites: department stores, shopping malls, airports, train stations and high streets, with a footprint ranging from 20 sq m for a small corner unit, to 250 sq m for a full café format.

The people behind a very different foodie treat, Dutch smash burger chain Fat Phill’s, are also in expansion mode. Fat Phill’s is a relative newcomer, having been established in 2019, but it already has 20 stores in its domestic market and one in the UK.

Fat Phill’s plans are to increase significantly this number, and to that end, the company is keen to meet landlords of a whole spectrum of sites, from retail parks, mixed-use leisure, high streets, mall inline, mall food court — even drive-thru restaurants. It might just find itself sharing space with another European burger brand hungry for expansion: Spanish gourmet chain Goiko. Having already established 100 domestic market stores, since 2018 Goiko has moved beyond its borders with openings in Portugal, France, Andorra and Italy. The next phase is all about keeping the momentum going. Goiko is now looking for more high-street, mall, retail park, airport and train-station locations in France, Italy, Spain, Germany and the UK.

Of the markets identified in the gallery, Germany is in demand from the most chains, with Fat Phill’s and Goiko both expressing intentions to move, as well as fashion names including Dune London, Guess Jeans, New Balance and Sosandar. But the major markets throughout Europe are all now attracting a healthy level of cross-border activity.

One of the most expansive brands in the gallery, %Arabica, hailing from Japan, also has its sights set on Germany, along with France, the Netherlands

and Portugal. In the 10 years since it was founded the speciality coffee brand has established a presence of over 200 stores, from China to Kuwait to the UAE, the US and Europe. Coffee and doughnuts are a classic combination as a foodie treat. Perhaps, then, %Arabica might want to keep an eye on where US doughnut giant Krispy Kreme goes — which, by the sound of its plans, is no short list. Krispy Kreme has laid out its plans for European expansion to include more stores in Italy, France, UK, Spain, Germany, and the Benelux and Eastern Europe regions. The brand is considering all locations.

“Some retailers look at physical retail to rebalance their margins”

Marie Hickey, Savills

All of these brands and more are at MAPIC, and actively seeking sites — not least contemporary Spanish jewellery retailer PDPAOLA, which is looking to take a great presence in Europe, and hip New York fashion player rag & bone, which already has a remarkable 600 stores worldwide. The industry is not yet enjoying the stability it needs before full confidence can be called. But one look at the MAPIC Observatory, and the exciting, hip new food, fashion and fun brands just waiting to take space all over Europe, is proof that there is plenty of business to be done, here and now.

Fat Phill’s – in expansion mode

You’re invited

Limassol Calling

Discover a new Mediterranean hub for global retail and business!

Event Details

Date: November 26

Time: 4:30 pm

Location: ARENA hall, MAPIC 2024, Cannes

Why Join Us:

•uncover exciting opportunities for leading global brands

• get an exclusive preview of Limassol’s transformative new development

Cocktail Networking

Connect and collaborate with industry leaders after the presentation

Space is limited — secure your spot!