Page 1

MULTI MAGAZINE | ISSUE 17 | NOVEMBER 2016


Contents Multi is a Pan-European retail asset management, mall management and (re)development company with a history of more than 30 years. Our core activities focus on owning, managing and (re)developing high quality shopping centres, across Europe and Turkey. As a well-capitalised, growth-oriented retail platform focused on creating, managing and improving sustainable rental income, Multi currently owns and manages over 130 commercial retail real estate assets. Multi assets, segmented in a portfolio of shopping centres, outlet centres, retail parks and grocery anchored centres, welcome more than 400 million visitors per year, spending an estimated € 4 billion annually in more than 6,000 stores, restaurants and leisure attractions. Multi is committed to its projects as long-term investments, whether these are owned by an institutional client, a funding partner or Multi’s own portfolio. Headquartered in the Netherlands, Multi is active in Belgium, the Czech Republic, Germany, Ireland, Italy, Latvia, Poland, Portugal, Slovakia, Spain, the Netherlands, Turkey, Ukraine and the United Kingdom. In Turkey we are the largest owner and manager of shopping centres.

multi.eu

IRELAND

10

Attractive market with strong growth fundamentals

The Making of

22

14

Interview Mark Siezen

A successful shopping centre is continually changing

26 Parade

Interview with Ramon Kabbedijk, VP at Five Guys Enterprises

shopping centre

34

revitalisation results in 20% increase in footfall

36

Q&A

>> Trends

Multi’s Managing Directors’ views on the retail property market in the year ahead

Cover photo: Franciacorta Outlet Village, Italy


38

70

Forum Trabzon

96 transforms St. Enoch Centre

Barbara Topolska and Brian Jenkins // Multi CEE’s incoming & outgoing MD’s

48 76

In conversation with Marjan Schoonderwoerd, Director/Cofounder of Donner Bookshop

54 84

mission is to get the best out of each shopping centre

58

Multi takes its

Shopping centre

loyalty

shopping centre, the Netherlands

Interview with Marc van Maris of Hunkemöller

98 The Primark Effect >> in Almada Forum

At

86 110 92

Corporate Social Responsibility seriously

Interview with Sérgio Marques, CEO Parfois

multi.eu/magazine

is getting fit for the future

Double interview

TTDesign’s

Discover the tablet edition of the Multi Magazine on

beauty is a language

F&B,

68

the new engines of shopping centres

126

LPP’s Krzysztof Bocianowski on the rise of the Polish based fashion giant


Forum Trabzon, Turkey 4

MM ISSUE 17


EDITORIAL

Dear Reader, We are proud to present the newest Multi Magazine. This has become a great tradition, giving us the chance to share with our business friends and stakeholders the relentless progress Multi is making as a pan-European manager and (re)developer of retail assets. Multi’s business continues to grow. Over the summer, Multi expanded into Ireland following Blackstone’s acquisition of Blanchardstown, the country’s largest shopping centre. This is a great asset, with a lot of value creation potential, run by a great team under the leadership of Dominic Deeny. Multi now covers Europe from Turkey to Ireland and from Latvia to Portugal. Our success is determined by the passion, creativity and motivation of our staff. We feel privileged to work with a great team of professionals who are proud to work for Multi. A team driven by the ambition to create the most exciting retail environments in Europe and Turkey.

of our centres. And our country directors explain their successes and ambitions to further build the Multi platform across Europe and Turkey, demonstrating that Multi can and will continue to increase footfall and sales numbers in a multichannel business environment. In 2016, Multi opened four new (re)developments and extensions, located in the Netherlands and Poland. In the coming years, the focus will be on extensions and refurbishments with the ambition to create excellent food & beverage facilities, while providing space for state-of-the-art retail and entertainment concepts. In line with our rich company history, at Multi we continue to believe that, at each and every chance, we will ‘Create the opportunity’ to add value to our portfolio. On behalf of the Management Board,

Jaap Blokhuis Reading the Multi Magazine, you will discover the issues that are affecting our industry these days. European Leasing Director Mark Siezen explains how we serve our clients, retailers, in order to continue to strengthen our retail offer. Some of the best-in-class operators report on their success stories, including Five Guys, Parfois, Hunkemöller and LPP. Mall Management Director Luis Pereira clarifies how we manage our retail schemes in a sustainable way and Herman Kok and Arno Ruigrok (both from Multi Research & Concepts) give their views on topics such as the opportunities for outlet centres and the trend for more F&B in shopping centres. You can also read about great events and new services, all of which add to the attractiveness

CEO Multi Corporation

MM ISSUE 17

5


AM

AM

Makado Alblasserdam

AM

Stadspoort Ede

AM

Deppenbroek Enschede

Hamershof Leusden

Overkapel Utrecht

AM

‘t Gulper Hart Gulpen AM

De Parade Nootdorp

AM

Rhein Ruhr Zentrum Mülheim AM

AM

Depot Real Tübingen

MM

MM

Kamp-Promenade Osnabrück

Wilhelm Galerie Ludwigsburg

Globus Portfolio Various (11) AM

Retail Park Bad Säckingen AM

United Kingdom

Retail Park Husum

52

Forum Rotterdam Rotterdam

AM MM

Elisabeth-Arkaden Hannover

21

Nieuwgraaf Duiven

DV

Oudeland Zwijndrecht

AM

Retail Park Braunschweig

Katwolderplein Zwolle

AM

Angelslo Emmen

AM

AM

DV

Valkenstaete Valkenswaard

AM

Crabbehof Dordrecht

Schuytgraaf Arnhem

AM

Veestraat Helmond

AM

DV

Wielwijk Dordrecht

AM

Volme-Galerie Hagen

Hanzewijk Kampen

AM

Kloosterveste Assen

MM

AM

Scheldeplein Vlissingen

AM

Forum City Mulheim Mülheim

Stadsfeestzaal Antwerpen

Liesveld Vlaardingen

AM

AM

MM

AM MM

AM

AM

St. Enoch Glasgow

Stratford London Confidential

Project Figo

Asset Pictures – Select Retail Assets BREP’s basis in the portfolio (8‐yr WALL, 100% occupied) is at a 14% discount to replacement cost,  AM MM and is projected to generate a 13% average annual cash‐on‐cash return over a 5‐year hold

14

Blanchardstown Centre

Dublin

Confidential

Project Figo

Asset Pictures – Select Retail Assets (1) Continente Montijo (Sonae) ‐ Hypermarket

Continente Leiria (Sonae) ‐ Hypermarket (1) 19,402 sqm ‐ €28m PP

16,075 sqm ‐ €24m PP

Continente Loures (Sonae) ‐ Hypermarket (1) 18,477 sqm ‐ €24m PP

BREP’s basis in the portfolio (8‐yr WALL, 100% occupied) is at a 14% discount to replacement cost,  and is projected to generate a 13% average annual cash‐on‐cash return over a 5‐year hold

AM MM

Spain

AM MM

Confidential

Project Figo

Asset Pictures – Select Retail Assets

Modelo Quinta do Conde (Sonae) ‐ Supermarket Modelo Quinta do Conde

Modelo Mem Martins (Sonae) ‐ Supermarket Continente Leiria

Minipreço Montijo (Dia) ‐ Discount Super

(1) 5,385 sqm ‐ €13m PP 5,235 sqm ‐ €16m PP Continente Leiria (Sonae) ‐ Hypermarket BREP’s basis in the portfolio (8‐yr WALL, 100% occupied) is at a 14% discount to replacement cost,  Quinta do Conde Leiria 19,402 sqm ‐ €28m PP and is projected to generate a 13% average annual cash‐on‐cash return over a 5‐year hold (1) Hypermarket – owned anchor supermarket / department store integrated within a larger non‐owned enclosed shopping mall

(1) 1,600 sqm ‐ €1m PP Continente Montijo (Sonae) ‐ Hypermarket 16,075 sqm ‐ €24m PP

________________________________________________

AM MM

Blackstone

AM MM

Continente Loures (Sonae) ‐ Hypermarket (1) 18,477 sqm ‐ €24m PP 2

AM MM

20

Confidential

oject Figo

sset Pictures – Select Retail Assets

Modelo Quinta do Conde (Sonae) ‐ Supermarket REP’s basis in the portfolio (8‐yr WALL, 100% occupied) is at a 14% discount to replacement cost,  Continente Montijo (1) Aveiro Retail Park (1) Continente Leiria (Sonae) ‐ Hypermarket (1) Continente Montijo (Sonae) ‐ Hypermarket Continente Loures (Sonae) ‐ Hypermarket 5,235 sqm ‐ €16m PP 19,402 sqm ‐ €28m PP 16,075 sqm ‐ €24m PP 18,477 sqm ‐ €24m PP nd is projected to generate a 13% average annual cash‐on‐cash return over a 5‐year hold Montijo Aveiro ________________________________________________

(1)

AM MM

AM MM

Blackstone

2

Confidential

Project Figo

Asset Pictures – Select Retail Assets

Santarem Retail Park Sintra Retail Park Santarem Sintra and is projected to generate a 13% average annual cash‐on‐cash return over a 5‐year hold

Almada Forum Almada

_______________________________________________

Hypermarket – owned anchor supermarket / department store integrated within a larger non‐owned enclosed shopping mall

Blackstone

Continente Leiria (Sonae) ‐ Hypermarket (1) Modelo Quinta do Conde (Sonae) ‐ Supermarket 19,402 sqm ‐ €28m PP 5,235 sqm ‐ €16m PP

___________________________________________

Continente Montijo (Sonae) ‐ Hypermarket Modelo Mem Martins (Sonae) ‐ Supermarket Modelo Mem Martins 16,075 sqm ‐ €24m PP 5,385 sqm ‐ €13m PP Mem Martins

(1)

AM MM

Modelo Quinta do Conde (Sonae) ‐ Supermarket 5,235 sqm ‐ €16m PP

Modelo Mem Martins (Sonae) ‐ Supermarket 5,385 sqm ‐ €13m PP

Alverca Retail Park Alverca

Hypermarket – owned anchor supermarket / department store integrated within a larger non‐owned enclosed shopping mall

6

AM MM

Continente Loures (Sonae) ‐ Hypermarket Minipreço Montijo (Dia) ‐ Discount Super Continente Loures 18,477 sqm ‐ €24m PP 1,600 sqm ‐ €1m PP Loures

Hypermarket – owned anchor supermarket / department store integrated within a larger non‐owned enclosed shopping mall

________________________________________________

2

AM MM

AM MM

(1)

Minipreço Montijo (Dia) ‐ Discount Super 1,600 sqm ‐ €1m PP

AM MM

Modelo Mem Martins (Sonae) ‐ Supermarket Modelo Quinta do Conde (Sonae) ‐ Supermarket Minipreço Montijo (Dia) ‐ Discount Super Continente Leiria (Sonae) ‐ Hypermarket (1) Continente Montijo (Sonae) ‐ Hypermarket (1) Continente Loures (Sonae) ‐ Hypermarket (1) BREP’s basis in the portfolio (8‐yr WALL, 100% occupied) is at a 14% discount to replacement cost,  5,385 sqm ‐ €13m PP 5,235 sqm ‐ €16m PP 1,600 sqm ‐ €1m PP 19,402 sqm ‐ €28m PP 16,075 sqm ‐ €24m PP 18,477 sqm ‐ €24m PP

1)

Forum Sintra Sintra

Modelo Mem Martins (Sonae) ‐ Supermarket 5,385 sqm ‐ €13m PP

Hypermarket – owned anchor supermarket / department store integrated within a larger non‐owned enclosed shopping mall

(1)

Blackstone

Minipreço Montijo (Dia) ‐ Discount Super

Blackstone

Lima Retail Park Viano do Castelo

Forum Montijo Montijo

MM

MM

2

Forum Madeira Funchal

Forum Coimbra Coimbra

Espacio León León MM

Espai Gironès Girona

MM

MM

MM

MM

Forum Algarve Faro

Albufeira Retail Park Albufeira

Armazéns do Chiado Lisbon

Forum Viseu Viseu

MM ISSUE 17

AM MM

Belvedere Siracusa

2

MM

Braga 1,600 sqm ‐ €1m PP Retail Center Braga

AM MM

AM MM

AM MM

Il Borgogioioso Carpi AM MM

Mantova Outlet Village Mantova

AM MM

Primavera Shopping Rome AM MM

Forum Palermo Palermo AM MM

Puglia Outlet Village Molfetta


AM

Kaufland Portfolio Various (6) AM

AM

AM MM

Eiderpark Rendsburg

Mols Riga

AM

DV

AM MM

October 2016

MM

Alfa Riga

Olympia Olomouc Olomouc DV

AM MM

AM

Elisabeth-Arkaden Hannover AM

DIY Idar Oberstein

Supermarket St. Ingbert

Alfa expansion - Riga

Forum Haje Prague

Dole Riga

DV MM

AM

Asset Management (Re)Development Mall Management

Supermarket Schmelz AM MM

AM MM

AM MM

AM MM

Latvia Galeria Leszno Leszno AM MM

Magnolia Park Wrocław

Poland

Galeria Pestka Poznań AM MM

Twierdza Kłodzko Kłodzko

AM

Euromax Trnava Trnava

Ukraine

AM

Slovakia

Euromax Nitra Nitra

Wzorcownia Włocławek AM MM

Galeria Tęcza Kalisz

AM

Euromax Poprad Poprad AM MM

Forum Poprad Poprad

Galeria Twierdza Zamość DV

Forum Gdańsk Gdańsk

AM

Euromax Trenčin Trenčin DV

Forum Prešov Prešov

AM MM

Forum Lviv Lviv

Turkey

AM MM

Forum Kapadokya Nevşehir AM MM

Valecenter Marcon AM MM

Mestre - Retail Park Mestre AM MM

Franciacorta Outlet Village

Rodengo Saiano

AM MM

Airone Monselice AM MM

Valdichiana Outlet Village

Foiano della Chiana AM MM

Palmanova Outlet Village

Palmanova

AM MM

La Scaglia Civitavecchia AM MM

Le Colonne Brindisi

AM MM

Forum Çamlik Denizli AM MM

AM MM

Forum Istanbul Istanbul AM MM

Gordion Ankara AM MM

AM MM

Forum Erzurum Erzurum AM MM

Forum Gaziantep Gaziantep AM MM

Forum Magnesia Manisa

Forum Diyarbakir Diyarbakir

Forum Ankara Ankara

MM

MM

MM

Forum Bornova Izmir

Forum Mersin Mersin

Forum Kayseri Kayseri

AM MM

Forum Aydin Aydin AM MM

Marmara Forum Istanbul AM MM

Forum Trabzon Trabzon DV

Forum Trabzon expansion - Trabzon

MM ISSUE 17

7


Blanchardstown CENTRE

“One of seven wonders of Dublin” - Kim “My first and favourite shopping centre. Between the retail parks and main centre there is nearly any shop you could ever need and tonnes of free parking!!” - Benjamin

FACTS 180

SHOPS

OPENED

1996

7,000 Parking spaces

15

million

visitors

per year

112,000 m TOTAL GLA

2

Dublin, Ireland

8

MM ISSUE 17


Blanchardstown Centre, Ireland

MM ISSUE 17

9


REPORT Dublin, Ireland

Attractive market with strong growth fundamentals By Herman Kok // Head of Research at Multi Corporation

Ireland

The acquisition in June of Blanchardstown Centre, Ireland’s largest shopping centre, located in Dublin’s northwestern suburbs, is the start of Multi Corporation’s activities in the Irish market. Mall management, asset management and a major redevelopment imply that Multi has a significant target in Western Europe’s fastest growing market. Though Blanchardstown is the company’s first major task in Ireland, Multi was not completely unfamiliar with the Irish market. It developed Victoria Square in Belfast, Northern Ireland, a successful retail-led mixed-use inner city project that opened its doors in 2008. The Irish market combines high economic growth and strong demographics. Over the last 30 years, the ‘Celtic Tiger’ has gone through a development process combining strong growth and an economic transition into a high value-added service economy. Ireland became one of the most prosperous countries in Europe, with consumers willing to

10

MM ISSUE 17

spend and interested in international brands and new shopping formats. Some of Europe’s bestperforming shopping centres have been developed in Dublin. The inner city of Dublin, centered around Grafton Street, has become one of Europe’s leading fashion high street areas.


Blanchardstown Centre, Ireland

4% annual GDP growth 2015 - 2019 Though heavily affected by the global crisis in 2008, which was followed by a number of difficult years, Ireland got back on the road to recovery after a period of austerity and reforms, making use of its strategic position in between the UK, the US and Europe, as well as its low rate of corporation tax. In recent years, Ireland was among the fastest growing economies in Europe, accompanied by strong and growing consumer confidence, rising incomes and a recovering housing market. The Brexit vote came as a surprise to Ireland. As a soft Brexit with generous trade agreements and relatively open borders is seen as the most preferred scenario, this could lead to new opportunities given Ireland’s strategic position. Growth is expected to continue, with Oxford Economics expecting an average annual GDP growth of 4% for the years 2015-2019. > MM ISSUE 17

11


> The retail property market took advantage of the robust recovery and saw improving vacancy rates and rebounding rents. International retailers are finding their way to Ireland and, combined with Northern Ireland, Ireland can be seen as a midsize market with a good number of relevant retail locations and catchment areas. Victoria’s Secret will open its first store in Ireland and Debenhams Ireland has exited examinership (court protection) with all 11 Irish stores continuing to trade.

Consumers are willing to spend and interested in international brands and new shopping formats Promising outlook The economic outlook for Ireland is favourable for the coming years, further supported by strong demographics and high rates of household formation. Dublin is among the fastest growing capital cities in Europe, with extensive residential development plans in the city and the suburbs to accommodate the growth. This is good news on the consumption and retail trade fronts. With such strong market fundamentals, Ireland is a promising market to be active in, and Blanchardstown Centre offers a lot of potential for further growth.

12

MM ISSUE 17


Blanchardstown Centre Blanchardstown Centre is a dominant 112,000 m2 retail complex comprising over 180 leading stores, together with numerous restaurants and leisure facilities, including a 9-screen cinema. There is capacity for an additional 150,000 m2 of development potential (across retail, residential, office and leisure uses) further bolstering the site’s position as one of Ireland’s premier retail destinations.

Blanchardstown Centre, Ireland

MM ISSUE 17

13


14

MM ISSUE 17


REPORT

Scenes in the Multi Brand Story Background Having evolved from developer to asset manager, Multi is launching a campaign to make that change visible, with a brand story based on the new positioning. The campaign highlights the Multi values of entrepreneurship, having a can-do attitude, creativity and passion. Create the opportunity. ‘Create the opportunity’ is simply what Multi does. Drawing on its extensive experience, Multi makes the shopping centre the place where visitors can enjoy themselves, tenants can be entrepreneurs and investors can get a good return on their investment. Multi’s Asset Managers share the stakeholder’s vision of ‘Everything is Possible’ and will create the pre-conditions for extraordinary ideas to turn visitors into loyal customers. >

MM ISSUE 17

15


16

MM ISSUE 17


> Authentic Scenes and Stories An excellent retail experience is central to the campaign: Authentic Scenes and Stories. The needs of and advantages for all the stakeholders, such as fantastic architectural environments, attractive events, quality retail mix and excellent returns, are implicitly addressed through Authentic Scenes and Stories, mostly of the visitors themselves. These are supported by the hard figures and facts of the Multi service.

The Mallfie The Mallfie, a word coined from ‘Mall’ and ‘Selfie’, is the vehicle for these Authentic Scenes and Stories and gives us our communication strategy: how we can bring the excellent retail experience into light in a credible way. People take selfies when they feel good and when they want to share something special - usually on social media. We want to use the unique energy of the selfie to illustrate Multi’s new direction in an unconventional way. Photography took place at Multi shopping centres in Antwerp, Dublin, Almada and Palermo. Visitors were selected and ‘Favourite Mallfie’ competitions held. Their experiences and stories formed the basis of the campaign, and show precisely why the modern day shopping centre is like the Roman Forum - a place where people get together. > MM ISSUE 17

17


>

Why a Selfie? Selfies are hugely popular in social media and feature everyone from teenagers to politicians alike. Thanks to the front facing camera on most mobile phones, a selfie can be taken anytime, anywhere, by and with anyone. This gives the art form a democratic spontaneity not easily accessible through other media. We see astronauts and presidents gazing at us with rare vulnerability, the stiffness of official portraits giving way to often genuine smiles and a unique sense of energy and presence. Love them or hate them, selfies are here to stay.

18

MM ISSUE 17


MM ISSUE 17

19


20

MM ISSUE 17


MM ISSUE 17

21


22

MM ISSUE 17


INTERVIEW

Mark Siezen, European Leasing Director at Multi Corporation, is the new Chair of the ICSC European Leasing Group. As an expert in cross-border leasing strategy, he is up-to-date on developments at the major international retailers. He explains how Multi ensures that its retail assets remain attractive and outlines the key focus areas for the ICSC European Leasing Group. Raising food & beverage to a higher level To maintain continuous growth, it is important to strike a balance between the objectives of the retail businesses and the introduction of innovations for consumers. An explosion of new F&B formats is playing a vital role on the innovation front. Siezen explains how Multi continually enhances and modifies its retail assets to reflect the latest trends. “Currently, the focus is on expanding F&B”, says Siezen. “Food and fine dining are a key part of the customer experience in shopping centres. Shopping centres are gradually changing from places where you can buy products to destinations you visit for a total experience. The trend began some time ago, but the transition is now in full swing. As e-commerce grows, some retailers are reducing their physical footprint. The store is increasingly taking on the role of showroom, somewhere to try things out, get advice or kick-start brand communities. At the same time, there is also a growing demand for restaurants, bars and cafés, children’s playscapes and leisure. Today’s consumer

is sometimes looking for convenience, sometimes for experience and often for both! This is leading to a blurring of boundaries between shopping and leisure, as stores simultaneously become cafés or places to meet.” Multi is currently working hard to raise F&B and leisure to a higher level in its centres.

The boundaries between shopping and leisure are becoming blurred Opportunities in Europe Siezen sees plenty of retail expansion opportunities in Europe. “We have just purchased Blanchardstown Centre (112,000 m2) in the Irish capital Dublin and we will be taking over the asset management of this great shopping centre. The Irish economy is on fire, growing by 5% or more per year, making it an extremely attractive market.” >

Mark Siezen

A successful shopping centre is continually changing

MM ISSUE 17

23


Forum Istanbul, Turkey

> Turkey is also an important market for Multi. The company owns or manages 925,000 m2 of retail space there, with more than 2,100 tenants and 160 million visitors every year. Its flagship shopping centres are Forum Istanbul and Marmara Forum in Istanbul and Gordion and Forum Ankara Outlet in Ankara. Siezen: “Despite political events in Turkey, consumption continues to increase thanks to the strong economy and young population.” Siezen also predicts that increasing numbers of Turkish retailers will make the move into other countries in Europe. Turkey’s largest fashion brand LC Waikiki is already in the process of doing this and other key brands, including Koton and Flo, show real potential. Equally, the retail market is experiencing a powerful recovery in Portugal. Siezen: “The F&B sector has historically been strong in that country and consumers are beginning to embrace new trends. An interesting development in Portugal is the integration of medical facilities within shopping centres, ranging from dentists to complete clinics. Potential expansion in the future could involve libraries or municipal offices.” The result is more footfall and greater vibrancy, giving the shopping centre an increasing role in the social life of the community. This ultimately creates a connection that no other communication channel can compete with.

24

MM ISSUE 17

Focus of ICSC European Leasing Group Siezen recently became the Chair of the ICSC European Leasing Group. This organisation brings together leasing professionals from the major players in retail real estate to share knowledge about the industry, discuss their experiences and conduct research. One of their key focus areas is the changes on the turnover-related rent front, as consumers increasingly move to and from between the physical store, the smartphone and laptop to make purchases anytime and anywhere. “It is difficult to link online transactions to a store’s turnover in the overall customer journey”, explains Siezen. “There are still no effective mechanisms for linking the various components of turnover to the lease contract. This could ultimately lead to a return to fixed rents.”

Physical stores create a connection that no other communication channel can compete with Retailer is key Siezen explains that Multi closes an average of 1,200 leasing deals per year. Multi has experienced leasing teams in all the countries in which it operates. Across Europe, they cover more than 130 shopping centres with over 6,000 retailers and 400 million visitors every year. One of Siezen’s main responsibilities is to coordinate the key accounts and the cooperation between the leasing teams. To ensure he has his finger on the pulse of all the major retailers, he tries to visit all key accounts at least once a year. “This enables us to gauge what retailers need at an early stage and provide them with optimum support as they expand internationally and grasp new opportunities.”


Forum Ankara Outlet, Turkey

MM ISSUE 17

25


26

MM ISSUE 17


MM ISSUE 17

27


INTERVIEW

Ramon Kabbedijk has been VP for International Real Estate and Construction at fast casual restaurant chain Five Guys Enterprises since the start of this year. From its new European headquarters, Five Guys is taking the European market by storm. Seven people currently work in the landmark waterfront building on Amsterdam’s river IJ, but if Kabbedijk has his way, that figure will increase to at least 35 within two years. Kabbedijk has direct oversight of the long-term real estate portfolio and implementation plans across Europe, the Middle East and Asia. This includes market prioritisation, site selection and construction & design. It is hardly surprising, then, that he spends more time on the road than at home. He talks enthusiastically about Five Guys’ plans for expansion, which tend to be developed at breakneck speed. The burger chain may offer only a modest range, but it has a huge band of followers. Back home in America, the burgers have acquired something of a cult status. 28

MM ISSUE 17

Ramon Kabbedijk already has an impressive track record, having worked at premium retail brands that include Nike, Urban Outfitters and, until the start of this year, Starbucks. MM || What attracted you to Five Guys? Kabbedijk “At Starbucks, I had one of the best jobs going. But I was attracted by the challenge at Five Guys because I believe that it has the potential to become one of the next truly aspirational brands. When you consider the fanatical following we have in the US, and the results we have seen in the Middle East and the UK, it is genuinely >

Ramon Kabbedijk

Interview with Ramon Kabbedijk, VP at Five Guys Enterprises


Five Guys Covent Garden, UK

MM ISSUE 17

29


> amazing. Much of our consumer base is made up of millennials, who are big drivers of social media traffic. We do not advertise at all.

The quality of our product and our customer service are all the advertising we need. There is already huge demand, even though the brand has barely landed here. For instance, research shows that we already have 50% name recognition in the Netherlands.”

At Five Guys, nothing is frozen. Everything is fresh, including the bread, meat and vegetables. The potatoes are cut fresh daily and cooked in 100% peanut oil. What you see is what you get at Five Guys - we even have an open kitchen concept so customers can watch their food being cooked as they wait. The other secret is our outstanding service – our aim is to simply be the best. Secret shoppers visit every restaurant about twice a week and give a rating, which is linked to staff bonuses. In areas with multiple branches, we even have a certain amount of healthy competition to be as successful as possible, which benefits our customers. It may come as a surprise that Five Guys spends the majority of its marketing budget on the secret shopper programme. We will be giving back nearly $25 million to store-level employees in 2016 alone.”

MM || What is the secret of Five Guys’ success? Kabbedijk “The real secret is in its roots. Five Guys is a family business that has been around for 30 years and is still run by the same Murrell family (Jerry and Janie Murrell and their five sons). In other words, the company has already had 30 years to think about how burgers can be made even better. It’s a simple story: sell a great burger, the best hot dog and the freshest fries, and people will pay for them. We recently introduced a new menu item - milkshakes.

30

MM ISSUE 17

MM || Does Five Guys work with franchisees or does it own all the restaurants? Kabbedijk “A large proportion of the American restaurants are company-owned. We introduced franchising in 2003 and it proved a resounding success. Three years ago, we opened a pilot in the UK in Covent Garden, London. It went so well, that we decided to expand further into Europe. We already have our first franchisee in Ireland. In the UK, Germany, France and Spain, we are working as >


‘The Five Guys’ Cheeseburger makes the beef the star of the flavour profile, plus the lettuce is crisp, there’s good acidity from the pickles, and the sesame bun is soft, yet holds up thanks to some time on the grill. It really is delicious.’

MM ISSUE 17

31


> part of a 50/50 joint venture with investor Charles Dunstone. We are developing the other countries as franchise markets, with the exception of the Netherlands, where we intend to set up a companyowned location we will use to train franchisees and staff. We have also opened a total of seven outlets in Dubai, Abu Dhabi, Saudi Arabia and Kuwait.”

MM || What conditions does a typical Five Guys location need to meet? Kabbedijk “Especially for the inaugural locations in a country, we aim to be front and centre in the high streets of major cities. We are currently working on locations on the Champs-Élysées in Paris and the Gran Vía in Madrid. We are also interested in premium shopping centres with high traffic numbers. For example, we have a prime location in the Dubai Mall. We tend to avoid food courts because you blend in with the crowd, losing your identity.” MM || Do you already have plans in the pipeline with Multi? Kabbedijk “There are definitely some locations that we find interesting. Blanchardstown Centre in Dublin and Forum Gdansk in Warsaw, for example. Forum Rotterdam with its large flagship Primark also offers a high-visibility location.”

32

MM ISSUE 17

MM || What is Five Guys’ response to the trend for healthy eating? Kabbedijk “At Five Guys everything is 100% fresh. Our supply chain aims to achieve regional sourcing for meat, vegetables and potatoes. Everything needs to meet high-quality standards and strict specifications. We have found that people who watch what they eat visit Five Guys, as they like the fact that we do not use any artificial preservatives, offer fresh produce and serve a simple, clean product.”


The real secret is in its roots Since 1986, the family-owned and operated Five Guys has been focused on serving fresh, high quality burgers in a no frills atmosphere. As of 2016, Five Guys has 1,400 locations spanning nine countries. The burger joint’s simple menu focuses on customisable burgers and fresh hand-cut fries. A fanatical dedication to quality ingredients means no freezers, no microwaves, no can-openers, no gimmicks and no limits on the fresh toppings and creative combinations, so customers can always get the Five Guys burger they crave. Five Guys continues to win awards for ‘Best Burger’ in various markets and the ZAGAT Survey concluded “there are no better burgers.”

fiveguys.com

MM ISSUE 17

33


SHOPPING CENTRE // NEWS

Multi revitalises Parade shopping centre Nootdorp Following a facelift and a reshuffle the Parade shopping centre has this year introduced seven new stores (approximately 2,500 m2) and a renovated parking structure that add charm and customer convenience to this Multi-managed grocery-anchored centre in the heart of the Dutch town of Nootdorp. When Multi acquired the 14,600 m2 centre in late 2014, the company put together a business plan to revitalise the centre. The whole plan focused on increasing footfall, improving circulation through the centre and improving the quality of the retail mix. Multi put the plan into action in 2016.

Parade has seen a 20% increase in footfall since the start of Multi’s activities Daniël Schönberg, leasing manager at Multi: “I had to negotiate with three stores to relocate so we could create the space for new anchor Action, a popular discount retailer, to set up shop in the

34

MM ISSUE 17


centre. It took a fair bit of time to create the right space for all of them. We also spent a good deal of time agreeing on a design for the lay-out and shop fronts, including a negotiation with the municipality to agree on how we would make these changes in this busy part of town. We will not be celebrating until we’ve leased out all the space in the centre, but I am proud of what we’ve accomplished to date.”

Parade, The Netherlands

New lessees include an Italian ice cream parlour and a jewellery shop. The Jumbo and Lidl supermarkets have both expanded their floor space and completely renovated their stores in line with their latest retail concepts, while the Albert Heijn supermarket chain has also renovated its store. Arjen Seckel, director asset management at Multi said: “We are very pleased to see that the works that we have undertaken and the changes in tenant mix have really re-balanced the centre. Over the last six weeks since the opening of Action, Parade has seen significant growth in footfall, on average nearly 20%, and we are getting very positive feedback from our retailers.” Parade Nootdorp is now fully stabilized and over 97% let.

MM ISSUE 17

35


Q&A

>> Trends

Multi’s Managing Directors’ views on the retail property market in the year ahead Francisco Cavaleiro de Ferreira || MD Multi Iberia We are seeing positive trends in the retail property market in Iberia and we expect these trends to continue in 2017. We have to seize the opportunity to regenerate and modernise our shopping centres and adapt to new market trends to make sure our centres remain the favourite shopping spots among consumers. Online sales and the current economic and political situation of Portugal, Spain and Europe as a whole are still a risk, but there are also opportunities. Our ability to adapt quickly to changes on both fronts will play a key role in our future success. Dominic Deeny || MD Multi Ireland Over the last two to three years, Ireland has emerged strongly from recession. The economy is performing well and we saw 6% growth in GDP last year, with 4% growth predicted for this year and the next. Retail responded with growth in prime high street rentals and a significant hardening of investment yields. Consumer confidence is returning, with a 6% increase in spending year on year. As turnover levels pick up, we are seeing increased signs of retailer activity and a resurgence of development plans.

36

MM ISSUE 17

Patrick van Dooyeweert || MD Multi Turkey Although Turkey has gone through some turbulent times recently, we are confident that the Turkish market will rebound. The resilience of the country and the robust foundations of the economy form a solid basis for further growth. We expect investor confidence and business activity to resume strongly, especially given the government’s positive and firm decisions to boost the economy. The drivers of our business are still gaining pace; namely population growth, strong urbanisation, household formation and purchasing power. Luca Maganuco || MD Multi Italy The recovery on the Italian market has been slower than expected, but structural government measures are stimulating renewed confidence. Private consumption is finally showing constant growth after the negative period 2011-2014. The pipeline for 2016 is limited to a few schemes (about 200,000 m2) and retail sector transaction volume in Q1 2016 was € 0.7 bln, 19% of total investment. Overall, given pricing/yields and potential returns, Italy is still an interesting market for both opportunistic and core acquisitions, so any opportunity to add to the shopping centre portfolio will need to be seriously evaluated.


Franรงoise Dechesne || MD Multi Netherlands & Belgium In the Dutch retail property sector we see that some sectors are on the wane, while others have potential for growth. Over the past two years, we have seen a lot of bankruptcies, which led to serious vacancy rates in many shopping centres. On the other hand, there are also many new initiatives at the best city centre locations, especially on the F&B front. For 2017, we expect this disparity between winners and losers in terms of shopping areas to become even more significant. Some projects in our portfolio have to deal with these market changes and will need to be re-developed.

Dario Pistone || MD Multi Outlet Management Italy Italy continues to show signs of a macroeconomic recovery. All the main indicators are predicting positive trends for the next three years. Low interest rates have made real estate investment attractive, which is also driving up capital values. The current real estate market has an abundant supply of high street shopping, shopping centres and outlets. But only the best of these will survive. In this environment, our outlet portfolio is helping us to seize the opportunity to be one of the two main market players.

Mark Siezen || MD Multi Germany a.i. The German economy is obviously strong and we foresee further healthy growth in 2017 and beyond. Due to increasing consumer confidence we expect good and stable growth on the rental income side. On the investment side, there is a very strong demand for retail real estate. As demand continues to outstrip supply we suspect investment yields to compress further. So few risks and good opportunities to offer retailers great spaces to run their business, improve the quality of our assets and maybe bring some products to the market for buyers looking for stabilized, high quality retail assets. Arjen Seckel || Director Asset Management, UK For the UK, and in particular Scotland, the coming year will be a transition year in which retailers and investors will take a wait and see approach, awaiting the outcome of negotiations with the EU following the Brexit vote. The trend of fashion retailers seeking flag ship stores in prime locations and a growing demand for F&B and leisure will continue to dominate the market.

Brian Jenkins & Barbara Topolska // MD Multi CEE >> See interview on page 38

Forum Montijo, Portugal MM ISSUE 17

37


INTERVIEW

The end of an era and the beginning of a new one >> Double interview with Multi CEE’s incoming & outgoing MD’s Barbara Topolska and Brian Jenkins A long and seasoned career in investment management, asset management and leasing management, and hard work in the shopping centre industry have flown by quickly for Brian Jenkins, Managing Director Multi CEE. He has been responsible for Multi’s portfolio of shopping centres in Central and Eastern Europe since 2013. But now Brian can retire with confidence. In Barbara Topolska, former Chief Operations Officer at NEINVER Warsaw, he has found an excellent successor. MM || How did you find each other? Why did you think it was a good match? Brian “I knew of Barbara and her reputation for being very down-to-earth, good with people and a good caretaker of her team. Then when I met her I knew immediately she was the right person. And all the more so when I saw how she handles issues and people. I think she is a very experienced and straightforward person. I also believe we need more women in this industry. I think some of our strongest shopping centre managers and leasing people are women.” Brian laughs. “I don’t know how I made it 30 years in this industry, because I don’t even like shopping. Clearly Barbara brings a lot to the table that I don’t bring. She speaks a lot of 38

MM ISSUE 17

different languages and is more in tune culturally. So it is a perfect segue her taking over. I set it up, got things going and stabilised the assets and team. Now she can take it to the next level.” Barbara “I am impressed with how efficiently Brian expanded Multi‘s operations in Poland and throughout Central and Eastern Europe. I also admire the achievements of the whole team and the extensive portfolio of completed projects. I would like to continue this growth strategy.”

MM || Brian, how has the European shopping centre landscape changed over the past few years? How do you see the current positioning of Multi in Central and Eastern Europe? Brian “I have been back and forth to Central and Eastern Europe since 1995 and have seen the landscape change dramatically across the whole CEE, especially in Poland. The first generation shopping centres have now been eclipsed by the second and third generations. Now we are probably more into the updated generation of shopping centres. Developers have also changed with the times and consolidated. Those who have continued to innovate and renovate have become the kings of their markets.”


Barbara Topolska & Brian Jenkins

Looking back, Brian has seen the industry evolve to more redevelopment and extension and less new development. “I saw the emergence of shopping centres, and the climax of shopping centre development. Now I am seeing the typical market cycle of the old being replaced by the new and all the issues that go along with that. Altogether, it is pretty interesting to see the whole cycle.” Looking at Multi’s CEE portfolio, Jenkins believes that Multi has some very strong properties: “Magnolia Park in Wroclaw was a great acquisition and is in the Top 10 in Poland. Forum Gdansk is also a flagship. The other centres are smaller, but are very good centres for their respective markets. In Latvia we have a very dominant project in Riga, Alfa, that we are expanding. Last year, we opened Forum Poprad in Slovakia, another very nice property. Although most of Multi’s property in Czech Republic was sold in recent years we still have a small portfolio of first generation properties which we are actively managing. Forum Lviv in Ukraine is also a beautiful

project, a great location and a modern addition to a charming historical city. The project has been a big success, even though the country is in a state of war and the currency is under pressure. It was a lot of work and the biggest challenge I have ever faced with a development project. The team did a great job, but we all had to work hard to make it happen. The biggest accomplishment was keeping the two pivotal tenant groups, LPP and Inditex, on board.” MM || Barbara, how does your background connect to the activities of Multi? Barbara “During my many years at NEINVER, I was watching and shaping the retail market in Poland and other European countries. When building the country’s most popular outlet centres and innovative shopping centres, I was trying to stay ahead of trends and introduce concepts that had already proven successful in Western Europe. The Polish retail market is dynamic in terms of the pace > MM ISSUE 17

39


> of growth. Over the past 20 years, it has managed to equal western markets that are considerably more mature. What I am bringing to Multi is my knowledge, network of contacts and experience cooperating with investors that appreciate the quality of projects completed in Central and Eastern Europe.” MM || Which direction is Multi Poland heading and how will you approach continued growth? Brian “I think Multi CEE is heading where its shareholder is heading. They are opportunity driven and have provided capital where capital was needed. That has been very positive for improving properties. They have also given me a lot of support and I really appreciate that. We could not have made so much progress in the region without their direct involvement and I am quite pleased with the result.”

Barbara “I am going to continue the company’s growth strategy that Brian has successfully implemented. My intention is to bolster Multi’s position in terms of project portfolio and asset management practices. My experience with challenging investments, such as the construction of Galeria Katowicka, along with a mixed-use transport and retail centre, will be put to good use on our unique project, Forum Gdansk.” MM || Barbara, how will you address your new role? What are your views on the retail property market in Poland? “I am going to continue Multi Poland’s expansion, while at the same time reinforcing the strong 40

MM ISSUE 17

position of the company’s existing projects. The Polish retail market is highly saturated but there is still some room for new ventures, like Forum Gdansk. The market is ready to embrace highly original projects, as well as ones that combine different functions and formats. Given the huge number of shopping centres in Poland, we need to stand out among our competitors. These days, retail centres are much more than just shopping destinations; they serve as meeting and entertainment venues. Investors believe that Poland is worth investing in. And we have to prove them right.”

MM || Brian, what would you like to pass on to Barbara? “My advice is to make sure you leave enough time for everybody in your team. This is a people business. So listen to people and give them the chance to speak to you. People do well if you treat them well and the results follow. It’s that simple. Drive the business, improve the portfolio, and figure out what you can do to make a difference. I focused on doing that from the day I got here and this philosophy has never let me down.” MM || Brian, what would you like to say to your team? “I want to thank them greatly for their dedication, because they are a hard working group of people. They are here as late as they need to be to get their jobs done. They can look forward to a bright future. Finally, I’d like to say “I’ll be seeing you again”, because it always happens.”


Brian Jenkins

MM ISSUE 17

41


DEVELOPMENT

Forum Gdańsk preview draws 120 international tenants to the site

In one of Poland’s most beautiful cities, Gdańsk on the Baltic coast, the construction of the new shopping mecca Forum Gdańsk is taking shape. A unique group of 120 interested tenants flew into Gdańsk for a two-day event to familiarise themselves with the project and the opportunities that it will bring. To bring the shopping centre to life, Multi Poland in cooperation with the Gdańsk Shakespeare Theatre organised a mind-blowing 3D mapping spectacle that visualised the different themes of the concept in an array of sound and colour. Multi’s TTDesign and SUD Architects have designed three distinct architectural zones, each with a different ambiance, called The Boulevard, Modern Court, and The Street. In the theatre, the retailers were able to experience the different sensations of each zone. Being virtually ‘inside’ the shopping centre enabled them to understand how the look and feel of their shops, the height of the façade and the appearance, could interconnect with the atmosphere of each zone. This unique opportunity to fine-tune their store concepts will be mutually beneficial and promote optimal performance in the new shopping centre. 42

MM ISSUE 17

Strategic project location in Tri-City area The 62,000-m2 GLA shopping centre project will provide space for some 220 stores, the city’s largest cinema (with nine screens), leisure facilities, a selection of restaurants and cafés and a car park for 1,100 vehicles. The scheme is seen as a natural extension of the city’s historical Old Town and will provide a modern urban shopping destination for the 1.3 million customers in its immediate catchment area, plus the 2.5 million tourists that visit Gdańsk each year.

By the end of the year the shopping centre will be 85% leased, 15 months prior to opening Forum Gdańsk is strategically located adjacent to Gdańsk Główny railway station, the historic Old Town and key municipal buildings. By integrating the railway line into the complex, over 1.5 hectares of useable land will be recovered. The development includes the multi-functional Gdańsk Heritage Centre, a new public transport hub, and infrastructural improvements. The banks of the Radunia canal will also be revitalized and covered with a glass canopy, creating a pedestrian passageway between the city centre and the public transport hub. Forum Gdańsk is a partnership between Multi Poland, the Gdańsk Municipal Authorities and Polish State Railways PKP. >


MM ISSUE 17

43

Architectural zone The Street, Forum Gdańsk, Poland

Architectural zone The Boulevard, Forum Gdańsk, Poland

Architectural zone The Street, Forum Gdańsk, Poland


Forum Gdańsk, Poland

These tenants have already chosen Forum Gdańsk Apetito Baalbeck Be my juice Bershka BIOWAY Burger King C&A Carte d’Or City Sport CROPP Deichmann Delicje cake shop Diverse Douglas English Home Gino Rossi GO Sport Grycan H&M home&you HOUSE iSpot KFC Kuchnia Marche Kurkuma Le Coq Sportif Le Paryżanka Mango Massimo Dutti McDonald’s Mohito Mount Blanc Mr. Chilli New Look Orange Oysho

44

MM ISSUE 17

Pandora Pink Dog Piotr i Pawel Pizza Hut Przysmaki Domu Wiśniowieckich Pull&Bear Red Rubin Reserved Rossmann Ryłko Samsung Sephora Simple Sinsay Sizeer SMYK Solar Sowa Stradivarius Super-Pharm Świat GSM SWISS Szydłowski Bakery Thai Wok TK Maxx Triumph Vapiano Vistula W.KRUK Wólczanka Yes Zara Zara Home

Watch the Forum Gdańsk development video xxxx


“The most beautiful shopping centre in Lisbon region” - Anna “Best shopping in the Sintra area. Diverse food court and has all the good stores ” - Santiago C

FACTS 189

SHOPS

OPENED

2011 2,700 Parking spaces

9

million

visitors

per year

55,000 m TOTAL GLA 2

Sintra, Portugal

MM ISSUE 17

45


SHOPPING CENTRE // NEWS

Alfa Shopping Centre expansion plans revealed Big changes are on the horizon for the Alfa shopping centre as Multi looks to modernise and expand the busy retail hub. Alfa is located in Riga, the beautiful and historic capital of Latvia. This huge shopping centre is a well-established family centre that welcomes over 8.2 million customers annually. The strategic investment will reinforce Alfa’s dominant market position in Riga. The most striking change at Alfa will be a threestorey extension of 20,000 m2 new retail space that will take the shopping centre’s contiguous size to approximately 70,000 m2. The expansion comprises 35 new shops and an entire floor dedicated to F&B and family entertainment, which will introduce a totally new experience to the Latvian retail market. An interior renovation of the existing centre, which celebrated its 15th anniversary in 2016, will coincide with the expansion. The refurbishment works include new floors, ceilings and furnishings, improved visual lines and signage. The upgrades will also include the surface parking area, creating space for a new outdoor public square. The expansion and refurbishment are expected to be completed in Q4 2018. “Alfa is one of the most frequently visited shopping centres in the Baltic region. The centre attracts 46

MM ISSUE 17

Food court design, Alfa, Latvia

primarily young families with small children and we know that the current F&B offer does not fully satisfy their needs. We are excited that we will finally be able to provide our loyal customers with a 360-degree retail and leisure experience. An excellent F&B offering will encourage our customers to plan longer visits because it is a key element in the quality of a customers’ stay. The planned fitness centre and children’s entertainment facility will quickly become favourites among families in Riga,” said Liene Apine, Alfa’s centre manager.

Three-storey extension of 20,000 m2 new retail space Alfa was added to Multi’s portfolio in December 2015, together with two other shopping centres in Riga: Mols and Dole. Multi Poland is responsible for the asset management of the centre, while the active property management is entrusted to Linstow Center Management.


Exterior design, Alfa, Latvia

MM ISSUE 17

47


48

MM ISSUE 17


INTERVIEW

Bookshop of the future is already more than a century old >> In conversation with Marjan Schoonderwoerd, Director/Co-founder of Donner Bookshop The business of selling books has been permanently transformed by the digital revolution, changes in consumer behaviour and economics. Many independent booksellers have been forced out of business by online sales and supermarket bestsellers. But bookselling is back in the ascendancy, in a new form and stronger than ever. The focus is shifting away from books to offering interesting cultural events and creating a ‘place to be’. Multi is offering a helping hand with some innovative concepts. A bookshop made in heaven in Maastricht Multi was one of the first to identify an opportunity for the revival of the bookshop in the city. The dilapidated 800-year-old Dominican church in Maastricht in the Netherlands was transformed into a temple for books, and a meeting space. The Guardian chose the former church as one of the world’s most beautiful bookshops: ‘a bookshop made in heaven’.

A booklover’s dream in Rotterdam A similar story also unfolded at the Donner bookshop in Rotterdam, itself more than a century old. In its heyday it was the largest bookshop in the Benelux. When the owner (Polar) went bankrupt, closure of the bookstore was inevitable. With the support of several private investors and 1,700 Facebook crowd-funders, five entrepreneurial employees raised enough funds for a relaunch. Seasoned bookseller Marjan Schoonderwoerd, a down-to-earth Rotterdammer, was one of the five initiators of the crowdfunding: “We’d been thinking that things would be better without Polare for some time. After the bankruptcy, we decided to take action and raised the funds we needed remarkably quickly. But we had to vacate the building within six weeks. Where do you store the accumulation >

The enterprising Donner Management in front of the spectacular safe door in the bank building: (from left to right) Marjan Schoonderwoerd, Eelco Zuidervaart, Leo van de Wetering, Jan Lutjeboer and Suzanne Hammecher

MM ISSUE 17

49


> of 25 years? The empty bank around the corner turned out to be the most promising location.” This historic monument is part of Multi’s Forum Rotterdam development. Multi leapt into the breach by offering Donner a generous accommodation deal. Donner currently occupies 3,000 m2 and plans to expand to 3,900 m2.

Renovation Construction work on Forum Rotterdam starts in 2017. Schoonderwoerd: “We are facing quite a challenge because the renovation will reduce floor area by half. But we need to remain available for our customers and continue to offer the complete range of products.” The new interior of the bookshop will take shape in close consultation with the architect, because there are strict rules governing listed buildings. Schoonderwoerd knows they will have to make compromises. “We have both

Dominicanen bookshop, The Netherlands

50

MM ISSUE 17

aesthetic and more practical issues to consider. Donner needs escalators and bookshelves and these can restrict lines of sight.” Personal bond with the customer “We’re currently developing a new website and working on a customer card with an App. We do a lot of promotions and presentations for all sections of the population on all kinds of issues, plus we have book-signings and we host debates. The range of titles we offer is very important, as are the gift items.” The store also has its own café (Diner @ Donner), and subtenants for sheet music, secondhand books, plus films from Velvet. The store is open ‘7/7’. Schoonderwoerd: “What matters most is good service and building up a personal bond with your customers. Customers can be anonymous but they are noticed as soon as they want to be.” Large group of young readers Schoonderwoerd has few concerns about the bookshop’s future. “There is a growing market of young people who read a lot and spend money on books, and we have numerous authors for this target group. Whenever we have something new, they are the first in line to snap it up.” The future of this historic bookstore seems assured.


Forum Rotterdam, The Netherlands

Françoise Dechesne // Managing Director Multi Netherlands & Belgium “We consider Donner to be emotional cultural heritage and felt we needed to preserve it for Rotterdam’s retail heart. We were prepared to offer the listed bank building at a temporarily low rent. The relocation turned out to be a blessing in disguise for Donner, for Rotterdam, but also for the project. Thanks to Donner, Forum Rotterdam has a significance that goes far beyond retail alone.”

MM ISSUE 17

51


Forum Rotterdam The Netherlands Facts // 60,000 m2 city regeneration scheme // Primark Flagship store 12,000 m2 // Transformation of office tower into 103 apartments

Owned by Syntrus Achmea Real Estate & Finance

// Refurbishment of historic bank building

For Donner Bookstore (3,900 m2) and ABN AMRO (4,500 m2 office + 900 m2 bank shop)

// Redevelopment and extension of 8,000 m2 retail in Lijnbaan area

Owned by Syntrus Achmea Real Estate & Finance (on behalf of three funds) and ASR Property Fund N.V.

// Architects

OMA and Wessel de Jonge Architecten

// Concept TTDesign

DEVELOPMENT

52

MM ISSUE 17


MM ISSUE 17

53


54

MM ISSUE 17


REPORT Blanchardstown Centre, Ireland

TTDesign’s mission is to get the best out of each shopping centre

Retail environments need to evolve and renew during their lifecycle if they want to stay relevant and attractive and meet changing shopping expectations from both shoppers and retailers. TTDesign identifies existing problems and uses its global design experience and wide range of skills to create efficient and sustainable solutions.

Over the past few years, Multi has been transformed from an investing developer into one of the leading retail real estate asset managers in Europe and Turkey. As part of this shift TTDesign, Multi’s Even the most in-house design group, switched from successful shopping being an exclusive design studio for new centres need to evolve shopping centres to become a studio for enhancing the retail environments in and restyle over time Multi’s portfolio. Value creation begins The design group does this in close collaboration on the drawing board. TTDesign’s team of urbanists, architects and designers support Multi in the field of strategic design and redesign, process planning and the optimisation of shopping centres across Europe. The overall design challenge varies from master planning to complete interior and exterior refurbishments.

with Multi’s research, leasing and mall management teams. Together they create the optimum conditions required to re-energise a project, to increase footfall and maximise commercial returns. The multidisciplinary approach ensures that the redevelopments meet both commercial and financial viability targets and that concepts are in harmony with the needs of local communities. >

MM ISSUE 17

55


Food court design St. Enoch, UK

> Today’s insights into visitor statistics, customer surveys and technical and operational excellence are incorporated into what are often detailed concepts. For this, TTDesign teamed up with IT and Auto CAD specialists to design a new tool: the Uniform Multi Floor plan. Armed with this strategic tool, TTDesign can monitor the status quo of each shopping centre on a monthly basis using colourcoded floor plans showing tenants, vacancy levels, base rent, OCR, expiry date and other useful information.

56

MM ISSUE 17


Forum Gdańsk, Poland

The evolution of gastronomy and food services is one of the biggest changes we have seen in shopping centre environments over the past decade. As attitudes to food and dining undergo seismic shifts, one of the main priorities in shopping centres is to provide a strong context that will enable F&B operators to be successful. TTDesign is working with Conceptual and JLL on redesigning and upgrading food courts and dining spaces in Multi’s centres to accommodate new trends, formats and innovative eating concepts.

MM ISSUE 17

57


58

MM ISSUE 17


INTERVIEW

Parfois, ode to every woman >> Interview with Sérgio Marques, CEO Parfois. In just over two decades, Parfois has grown from a Portugal-based fashion accessory store to some 650 locations worldwide largely because founder Manuela Medeiros started her empire with a clear vison. This entrepreneurial lady with a strong sense for trends and a talent for business decided from the start that the store had to be set up as a replicable concept. Today, Parfois is a rapidly expanding women´s fashion brand, targeting early adopters and followers of fashion trends for clothing, handbags, jewellery, wallets, sunglasses, belts, scarves, footwear and much more. Multi Magazine talked to CEO Sérgio Marques about the Parfois formula and the strategic decision to add a new clothing line that will take the brand into a next phase of maturity. MM || When did the Parfois story start? Marques “The creation started when our cosmopolitan founder Manuela Medeiros sensed a tremendous opportunity. During her travels to other countries she saw the accessory industry emerging and she felt the momentum was right to bring this to the Portuguese market. From the beginning, she

understood the importance of bringing designers on board and of putting a professional organisation in place, with experienced people. The first Parfois shop opened in 1994 in Porto. It very quickly proved to be a winning formula. Within a couple of years the brand had achieved a nationwide presence. With some 120 shops in Portugal, Parfois is the leader in its field. It is now present in 53 countries and our main markets are Portugal, Spain, France, Poland, Saudi Arabia, Italy and the United Arab Emirates. The business model is a mix of ownoperated and franchise shops operated by master franchisers.” MM || You decided to add clothing to the collection. Tell us more. Marques “In September 2015, we launched a clothing collection. It was a logical move. We have the shops, the traffic and now we can offer our customers a wider range of items, so they can put together a total look combining clothing and accessories. We strongly believe the combination of accessories and clothes will help drive the company’s performance and fuel growth. We are also totally transforming the design of the stores. The stores have a more sophisticated aesthetics in terms of size, colour and texture and look fabulous. A traditional store used to be some 90 m2. The new stores will have to be at least twice that size or bigger. The first new-style 200 m2 store was opened last year in Marshopping in our hometown Porto and we have since opened several stores of this type. As a result of the new strategy, the relocation of many smaller shops is high on the agenda. We are in a continuous process of evolution. If you stop changing and improving you are out.” > MM ISSUE 17

59


> MM || Do you design all collections in-house? Marques “Parfois has always been a design-led company. Of the total of around 350 people who work in the head office, about 70 are designers and buyers who work closely together. They anticipate fashion trends and consumer needs. Manuela Medeiros, who has remained with the company as chairperson, still keeps her finger on the pulse of the product purchase and design process with her unique mix of instinct and experience. The company employs around 2,500 people if we include logistics and store staff.” MM || What does Parfois bring to a high street or shopping centre that other retailers do not? Marques “Our customers are impulse buyers and we feed their desire by supplying new styles continuously. We are always on trend. The most important factors that distinguish us from the competition are the products themselves and the pleasant atmosphere in the shops. Some customers pop in twice a week to see what’s new, and we provide a high level of service. The price is not an issue because we offer great products at a fair price.”

connected. We don’t think of shopping in terms of online or offline. For our customers, these channels are part of one ecosystem. We have huge traffic in both channels, but the conversion rate seems higher in the traditional store. Parfois has attracted an unlikely chorus of cheerleaders on the fashion blogger scene. They post pictures of their favourite brands on Instagram and create a buzz when they make an exciting new purchase.

MM || Now that shopping has become entertainment, fashion brands almost need to act like media companies. What is your marketing strategy? Marques “This market is highly competitive, as anyone can sell fashion today. The biggest marketing challenge is to remain the first in the market. Parfois boasts a 96% brand awareness in Portugal. This shows that good locations can generate amazing brand recognition without traditional publicity. In our marketing, we are totally 60

MM ISSUE 17

Our blogger fan base is very important. We regularly organise international fashion blogger events in special locations and with inspiring content that keeps them interested and engaged with us, and that’s a win. They discover what the


brand means for them and some bloggers have become a real part of the Parfois family.” MM || The story is a crescendo. How did Parfois do during the crisis? Marques “We managed quite well compared to others. We had a period of about 12 months in Portugal and nine months in Spain that saw a drop in sales, but that was less than 10%. Sales quickly recovered. I think our proposition was good in the crisis period because we have a low price threshold. With us you can buy a product for €6 and feel happy. The crisis also created an opportunity to attract new customers who discovered they could buy the quality they were used to for much less.” MM || What does the future look like for Parfois? Marques “Over the last five years, our growth rate was about 30% and our plan is to continue to grow by some 25% in the next 3-4 years. We

have a three-pronged approach: to continue to increase sales in existing stores, to open new stores in markets where we are already established, with a focus on Spain, France and Italy, and to enter a number of new countries.”

MM || How can retailers and shopping centres work together to enhance the value proposition for end customers? Marques “It is no different than in normal life. Just listen to each other and work together. No matter what it is about, from marketing proposals, operational issues, to prices; everything needs to be connected.” > parfois.com MM ISSUE 17

61


Parfois has attracted an unlikely chorus of cheerleaders on the fashion blogger scene > “A huge thank you to Parfois for having us & congratulations on the fabulous new store! My wish list is now as long as my arm after seeing everything.” // Pink Elephant “You know Parfois is my go-to place. I always know I’ll find something unique, stylish and affordable when I go there. This cross body bag just screams ‘summer’ to me.” // Pippa “This week I was about 3,419 kilometres away from Skopje for a very chic all-day event with the beautiful Parfois team to view the upcoming collection (which is to die for, and has clothing items too!). A tribal purse with animalistic motifs and fringe details screamed: ‘You need me in your life, Jovana.” // Aftertwofive “I was invited by Parfois brand to explore Porto and the Spring Summer 16 collection. In addition to bags and gorgeous jewellery, now we can also find clothing items at Parfois and this was such a sweet surprise.” // Rita Saraqi

62

MM ISSUE 17


#parfoishomeis, bloggers event

Home is... On 1 September, Parfois invited PARFOIS & FRIENDS to a very special place: home! In a one day experience in a hidden place in Óbidos, Portugal, Parfois presented its Fall Winter Collection, in an intimate and cozy atmosphere. Each detail was carefully thought to make Parfois friends feel at home, with personalized items in each bedroom, such as their pictures or their favorite inspirational quotes or magazines. In an adventure through the concept of ‘home’, PARFOIS & FRIENDS took the time and the chance to reflect on the notion of home, sharing experiences and moments. Watch the bloggers event video xxxx

MM ISSUE 17

63


Franciacorta Outlet Village, Italy

64

MM ISSUE 17


Q&A

>> Objectives

Multi’s Managing Directors talk about their plans for Multi in the year ahead Francisco Cavaleiro de Ferreira || MD Multi Iberia We expect the majority of our growth to come from the acquisition of assets, but we will at the same time maintain and strengthen our expertise in third party management contracts. This is the only way to stay sharp in such a competitive market. The improvement of mix, look & feel, food and hospitality will continue to be the major focus for our assets. Dominic Deeny || MD Multi Ireland Multi Ireland has just taken on the operational and management role at Blanchardstown Centre. The previous owner did some good work to stabilise the centre during the downturn. Now we are preparing to re-invest, to improve the tenant mix and reposition the centre to capture a greater market share of the Greater Dublin Area spend. The next year will be very much about putting the building blocks in place to deliver a significant change in the retail and leisure offering at Blanchardstown. Patrick van Dooyeweert || MD Multi Turkey Multi Turkey will continue to increase the attractiveness of its assets. We foresee a continuation of growth in footfall and consumer spending and will focus on a further increase of conversion ratios. For the mostly young and urban

Turkish population, shopping is connected to lifestyle and leisure. Major improvements in F&B offering at various centres will cater for that need. Luca Maganuco || MD Multi Italy Our mission is to add value to all the schemes under our management by improving key performance indicators, such as sales and footfall. Multi Italy’s efforts are concentrated on two key issues. Strengthening the ‘box’ by improving services, the quality of the common space, communication and efficiency with the aim of making customers feel ‘at home’. And improving the ‘content’ by tailoring the retail mix to the customers’ profile to increase the dwell time in the centres. The fact that in 2015 we generated sales growth of 4.2% compared with the average of 0.4% for the Italian shopping centre market as a whole proves that this strategy is paying off. For 2016 we are aiming for growth of 5%. We believe that this is achievable, as the footfall in our centres is above the national average. Françoise Dechesne || MD Multi Netherlands & Belgium In the year ahead, the main focal area for our asset portfolio will be the redevelopment of our centres in Ede and Emmen and, of course, to make sure we have everything in place to meet our NRI and occupancy targets. In addition to this, the main focus for Multi Netherland’s development > MM ISSUE 17

65


> department will be on the Rotterdam Forum project. The start of construction on this huge inner city redevelopment project is planned for early 2017. Dario Pistone || MD Multi Outlet Management Italy Franciacorta Outlet Village will be upgraded to Italy’s top outlet portfolio following its expansion (adding 33 new shops) and improved retail mix. Mantova Outlet Village is expected to go through a revival that will help it to achieve its ambition to make it one of the most pleasant and experiential outlets in Italy. Palmanova Outlet Village will further strengthen its position in the Italian outlet scenario and Puglia Outlet Village is well on its way to becoming a premium/luxury outlet. Last but not least, Valdichiana Outlet Village’s ambition is to be the reference point for central Italy and for regional tourism. Mark Siezen || MD Multi Germany a.i. Multi Germany will be finalising the transition from a world-class developer to a world-class asset manager in the year ahead. Our main objective is to continue to support our retailers to

increase their sales in our centres, through active asset management and continuous improvements to the quality of our shopping centres and retail parks. If ‘our’ retailers do well it obviously drives our performance too, creating value for both.

Arjen Seckel || Director Asset Management, UK Next year will be a year of consolidation, as we roll out an extensive development and renovation programme for our main centre St. Enoch. That centre will be repositioned following the departure of BHS. We will continue to develop an exciting programme, with flag ship stores, a cinema and restaurant, while we are also upgrading and expanding the food court. Brian Jenkins & Barbara Topolska // MD Multi CEE >> See interview on page 38

Almada Forum, Portugal

66

MM ISSUE 17


EVENT

On 24 and 25 May this year, over 800 retailers, shopping centre developers, plus owners and brokers gathered to expand and develop their business in Italy at the first MAPIC Italy. Multi Italy and MOMI had a stand at the event and sponsored the opening cocktails. On the wrap-up day of the trade fair, CBRE officially presented the report ‘L’Oro del Sud’, on the best shopping centres in southern Italy, featuring Forum Palermo, Sicily. The report includes an interview with Multi Italy’s Managing Director Luca Maganuco, in which he explains the importance of Forum Palermo (49,900 m2) at a national and international level. Watch the official Mapic Italy video xxxx

Multi teams up with

MAPIC Italy

MM ISSUE 17

67


REPORT

An Industry Perspective

Shopping centre loyalty

The recent advances in mobile technology have made it easier to launch successful centre-wide shopping centre loyalty schemes. While loyalty schemes are a tried and tested method for measuring performance and collecting customer data in industries such as supermarkets, airlines and food & beverage, shopping centre loyalty programmes are still relatively new, with only around 25% of retail destinations currently implementing schemes. However, numbers are predicted to grow substantially by 2019, with 61% of surveyed retail destinations planning to introduce a loyalty programme by 2019, and 40% planning to do so within the next year. Around 38% of marketing managers are planning to spend 10% of their annual budget on implementing a loyalty scheme, and a further 29% are expecting to budget between 10-50%. The shopping centre’s perspective As well as increasing sales, improving the customer experience and building brand awareness, loyalty programmes also provide shopping centre owners and managers with a wealth of invaluable shopper data and insight, enabling them to profile customers and personalise marketing. Over 70% of shopping centres with a loyalty programme stated they were very effective at measuring the centre’s performance and almost 80% established stronger relationships with their tenants due to the increased communications and data achieved through the programme. 68

MM ISSUE 17

The retailer’s perspective No less than 71% of surveyed tenants are interested in implementing a loyalty scheme. And 95% of those tenants who have implemented a loyalty scheme say that the programme is a valuable marketing tool, while 65% state it provides valuable customer insight.

Shopping centre loyalty programmes are still relatively new The shopper’s perspective Around 61% of shoppers stated they would be more likely to register for a loyalty programme if they were told about it by retailers at the point of sale. A physical card is still essential for the activation phase with 84% of shoppers using a loyalty card for initial registration. However, two-thirds of returning customers then go on to download the loyalty app to their mobile device. Surveys reveal that 50% of shoppers would rather use their mobile for instant access to offers and rewards. Reaching the higher tiers of a shopping centre loyalty programme incentivises 60% of shoppers to spend more. Around 82% of shoppers enjoy receiving email communications about the programme, while two-thirds expect to feel part of an exclusive club upon joining a programme and will spend 20% more on average than those not in a club. Source: Coniq


SHOPPING CENTRE // NEWS

St. Enoch & Forum Istanbul launch multi-channel loyalty schemes

St. Enoch Centre launched Glasgow’s first shopping centre loyalty scheme, St. Enoch Rewards, in August 2016. The multi-channel loyalty programme allows shoppers to redeem rewards and collect points simply by presenting their card or app at the retailer’s point of sale. A comparable loyalty app was recently launched in Forum Istanbul. ‘MyForum’ invites all the visitors to a World of Privilege, including location-based offers via Beacons, and promotions such as an annual Lego Discovery Centre membership, free Cinema tickets or IKEA incentives. MyForum integrates with email and social media, so visitors can spread the word and earn extra points.

A perfect shopping experience from the very first click Through the use of the shopping centres’ online community, both apps reward those people who come to the centre, seamlessly integrating the online and the offline experience. It encourages customer interaction, demonstrates that the shopping centres are in tune with what shoppers want and offers a flawless shopping experience from the very first click. The programmes collect shopper demographic and spend data. The insights gained will allow St. Enoch and Forum Istanbul to personalise its marketing and tailor the benefits available to shoppers, encouraging customers to return. MM ISSUE 17

69


Forum Trabzon is getting fit for the future Forum Trabzon | Trabzon | Turkey Multi Turkey is working on a project to expand Forum Trabzon by approximately 7,000 m², resulting in a total shopping surface of 58,000 m². This enlargement would give major international retailers, such as H&M and Starbucks, the opportunity to open a store in the shopping centre. The centre is also planning new F&B concepts, and store enlargements for LC Waikiki and Koçtaş. The development will significantly boost the value and size of the shopping complex, making it more competitive. Completion is planned for the first quarter of 2018.

SHOPPING CENTRE // NEWS

70

MM ISSUE 17


“Fantastic shopping mall with all the unusual things you wouldn’t expect.” “If you have kids and are looking to find a place full of fun for the whole family, I suggest Forum Istanbul” - Pearl “Forum Istanbul is a huge mall with a lot of clothing shops, shoes and everything one could need. There’s also an amazing aquarium which is great for both, children and adults.” - Rania “Just perfect!” - Cansu

FACTS 175,000 m

2

TOTAL GLA

OPENED

2009

5,000 Parking spaces

27.6

million

visitors

per year

270

SHOPS Istanbul, Turkey

MM ISSUE 17

71


SHOPPING CENTRE // HOT & HAPPENING

We

likes

Multi’s dedication to strong customer relationships has inspired many bloggers and vloggers. It resulted in a flow of lively images on various social media. Capturing the simple pleasures and artistic details of our shopping centres, this vivid user-generated content is a great demonstration of trust from our visitors and tenants alike. Supported by the creative community, Multi continues to thrive as a provider of top quality shopping experiences.

72

MM ISSUE 17


Superstars sparkle at Valecenter Valecenter | Marcon | Italy On 3 September 2016, Valecenter was the place to be for YouTube Superstars in the Venice region. The centre organized an exclusive event with the participation of the popular Italian YouTubers Alberico De Giglio (770,965 subscribers and 65,021,263 views) and Marco Leonardi (103,948 subscribers and 1,117,012 views). Earlier this year, Valecenter welcomed Leonardo De Carli (766,583 subscribers and 68,536,721 views), Leila2000mh (233,924 subscribers and 26,763,130 views) and Greta Menchi (919,564 subscribers and 96,854,517 views). These YouTube celebrities make movies, TV series, write books and even produce school diaries that are sold out in a day. The events hosted over 18,000 visitors during the meet & greet hours. The result was a 65% increase in footfall and 40% sales growth compared with the year-earlier period. Watch the superstars event video xxxx MM ISSUE 17

73


SHOPPING CENTRE // NEWS

Elvea’s tasty tomato pop-up in Antwerp Stadsfeestzaal | Antwerp | Belgium Stadsfeestzaal shopping centre, is always keen to come up with original marketing ideas. After hearing that Elvea, the leading brand of Italian canned tomatoes in Belgium, was celebrating its 130th birthday, the shopping centre approached the owner, Charlier-Brabo Group, to team up and open an exclusive pop-up shop in the central court. Ever since ‘Luigi Vitelli’ started the brand in Naples, Elvea has stood for quality, continuity, knowledge and innovation. The main goal of the pop-up store was ‘to engage, to create and to educate’. The entire product range was on display, with a special focus on ‘Elvea Selezione Del Maestro’, an exclusive limited edition of the best canned tomatoes and tomato pastes, a choice of gift boxes and additional products. The brand with its rich history was a perfect fit with the iconic Stadsfeestzaal. The pop-up store initiative brought the year of celebration for the brand’s 130th anniversary to a successful conclusion.

74

MM ISSUE 17


11 anchor stores, and a hypermarket. The new logo reflects the centre’s architecture and the experience it provides for its visitors: dynamic, colourful, challenging,

Almada Forum | Almada | Portugal Fourteen years after its opening, Almada Forum was ready for a revamp. Almada Forum is the Portuguese flagship centre in the greater Lisbon area near the river Tagus. The 80,000-m2 centre has 230 shops, including

multi-cultural... and happy. The ‘Everything to be happy’ rebranding campaign will be communicated via radio commercials, billboards, ATMs, trains, multi-channel media platforms and in print. The message is that everything a customer needs to be happy can be found in the shopping centre. The campaign is a chance for Almada Forum to build even closer relationships with its customers and retail partners.

Galeria Leszno opens new retail extension Galeria Leszno | Leszno | Poland On 23 June, Multi Poland opened Park Leszno, a 6,500 m2 extension of the Galeria Leszno shopping centre. The new shops will be a valuable addition to Leszno’s current retail offering. The eight big-box units create space for the introduction of popular and discount brands, such as Media Expert, a well-known Polish electronics chain, and Martes Sport, which have completed the centre’s offering of sporting goods and fashion. KiK, Pepco, and Q&Q offer huge discounts on the latest fashions and home goods, while Hebe has added an even wider choice of health and cosmetics products for Leszno’s customers.

In addition, the new development added 200 parking spaces and provided a new vehicle entrance to improve traffic circulation. To top it off, the centre ran a new logo and branding campaign, which has refreshed and strengthened the centre’s brand image and customer perception. MM ISSUE 17

75


76

MM ISSUE 17


Hanzewijk The Netherlands Facts // The parties involved

The municipality of Kampen (landscaping of public spaces) deltaWonen (housing) Multi Netherlands (development and leasing of the shopping centre)

// Retail space 5,000 m2 // Residential 87 // Parking spaces 300 // Architects Heren 5 // Concept TTDesign

SHOPPING CENTRE // OPENING

MM ISSUE 17

77


SHOPPING CENTRE // OPENING

Expectations surpassed just six months after official opening On 3 February of this year, the Hanzewijk shopping centre was officially opened in the Hanseatic city of Kampen in the Netherlands. With Jumbo and Lidl as key attractions, the locals were soon standing in line outside the stores, shopping trolleys at the ready. Looking back at the shopping centre’s first six months, there is no doubt it has hit the mark. All the stores have been let and this local shopping centre is proving to be extremely popular with consumers. Hanzewijk shopping centre is located in what was once a disadvantaged neighbourhood of the same name. During the opening ceremony, Alderman Martin Ekker praised the major neighbourhood renewal that had taken place in Hanzewijk, one of the largest in the Netherlands in the last eight years. The regeneration of Hanzewijk has also brought down the average age of the population. 78

MM ISSUE 17


The result is a change for the better that also benefits businesses in the centre. In her speech, Françoise Dechesne, Director of Multi Netherlands & Belgium, outlined Multi’s approach to the project. It was not just about economics, she said, but also about creating a meeting place and a heart at the centre of the regenerated neighbourhood.

100% let and extremely popular with consumers Multi’s Dutch retail portfolio Hanzewijk shopping centre is the latest addition to Multi’s Dutch retail portfolio. This includes 18 neighbourhood shopping centres covering a total retail surface area of approximately 140,000 m2 and around 500 stores. Multi’s Dutch portfolio is particularly focused on convenience shopping centres. Average occupancy levels in the retail centres exceed 95%. This makes Hanzewijk a perfect fit for the portfolio.

Alderman Dekker (municipality of Kampen) and Françoise Dechesne (Multi)

MM ISSUE 17

79


SHOPPING CENTRE // OPENING

Mosveld

Grand opening convenience shopping centre

On 16 June, the Mosveld convenience shopping centre in Amsterdam-Noord in the Netherlands was officially opened. The centre will form the new, vibrant heart of the up-and-coming AmsterdamNoord district. It offers 7,000 m2 of shops, restaurants and cafés on the ground floor, 53 apartments on the upper floors and a parking deck with 140 parking spaces. The locals celebrated the long-awaited relaunch of this once-neglected area with balloons, free 80

MM ISSUE 17

ice cream, typically Dutch herring and music. Everyone who attended agreed: this is what the neighbourhood needed so badly. The number of stores that remained open had slowly dwindled to just a handful of diehards. The area had become desolate. Now Mosveld offers the fast-growing population of Amsterdam-Noord the perfect opportunity to do their daily shopping at an attractive mix of chains and independent retailers, including Albert Heijn, Deen, Etos, Holland & Barrett (De Tuinen), fishmongers Tuyp en zonen, Kruidvat, Toko Tjin’s, Primera, De Bakkerszonen, Pearle, Febo, BENU Apotheek and Bloomies.

Old and young alike were enthusiastic about the new centre. “The neighbourhood is improving all


the time”, “it’s almost as if it’s always been here”, and “elderly people can now do their own shopping again”. So is there nothing at all to complain about? “More public seating,” says one resident, “will make it an even more pleasant place to be”. Sustainable concept The design features two attractive brick towers, each with a slight curve, that pay tribute to Amsterdam-Noord’s industrial heritage and accentuate the central square. The architectural style gives a subtle nod to the garden villages that typify Amsterdam-Noord, ensuring that the new shopping centre fits naturally into the existing urban environment. Mosveld shopping centre will help ensure a sustainable future for the neighbourhood, providing jobs for local people and enhancing purchasing power. It will also enable new residents of Overhoek and Buiksloterham to do their day-to-day shopping close to home.

From left to right: Coby van Berkum (Chairman Administration Committee Noord), Collin Boelhouwer (Bouwinvest), Françoise Dechesne (Multi) and Tim van Veggel (Stichting Beleggingsfonds ROX) toast to the new shopping centre

MM ISSUE 17

81


REPORT

Young Talent Pitch at Multi Business Conference Multi decision-makers (management and senior staff) gathered in May this year in Santpoort (the Netherlands) for an internal business conference. This meeting was meant to take delegates out of the hectic rush of their daily routines for two days, so they could share knowledge and views on market trends from across the world. It provided a platform for expert speakers from within and outside Multi, and for debates on some of the most pertinent issues to our sector. The central themes were: trends and new food & beverage concepts, and the impact of future retail business models on the value of retail property. Young talent pitch Throughout its European workforce, Multi cultivates a group of talented young professionals with innovative ideas. Prior to the conference, the Multi-board launched a pitch to generate ideas that had to be market-based, property focused, relevant to our core-business, feasible and do-able at relatively short notice. We received more than

82

MM ISSUE 17

20 promising submissions. Three young colleagues were invited to pitch their ideas at the conference. Their proposals not only met all the criteria but also fitted very well in the context of the programme. They were original and inventive, from involving kids in shopping centre marketing campaigns to hosting local F&B specialists in our shopping centres. Food & beverage in the spotlight The retail landscape is changing and F&B is becoming increasingly important. People visit a shopping centre not only to buy goods, but also to spend time, to meet friends, to get inspired, and more. A strong F&B offering helps to make a shopping centre an appealing destination. Traditional retailers are now trying to integrate F&B in their formats, as they see it as one of the vital ingredients for success. Supermarket-chains in


Young talent pitch candidates (left to right) Ezgi Cubukçu Mall Manager Forum AydĹn, Turkey Cristina Plana Marketing Manager Espai Gironès, Spain Valentina Lesmo Asset Management Analyst, Italy

particular are experimenting on this front. Speakers from various backgrounds presented trends and new formats and shared their views on the future of F&B and its potential impact on the retail sector. A number of workshops left the Multi team with a lot of questions for future discussion, but also with many useful ideas. How to value retail property in a multi-channel world In the future, an ever increasing proportion of retail spending will be via e-commerce. That does not mean that there will be no demand for retail space. Omni-channel retail is currently a highly relevant trend. Many retailers operate on the basis of a wellbalanced mix: a physical shop and online presence. This balance will be different for each individual business, depending on their format and strategy. But although a physical outlet continues to be

relevant for many retailers, the role of property may change. Retailers will be re-evaluating size, location and value against the background of new business models. This is certainly something to bear in mind if we want to optimise our future business. Conclusion In many ways, the conference was a valuable and engaging experience. The most interesting, informative and educational moments were not confined to the formal sessions themselves, as the informal gatherings also generated a lot of interesting ideas. It left the delegates with new energy and innovative ideas and approaches on how to improve our business. It also showed that the company has a lot of potential dedicated to achieving extraordinary results through our people.

MM ISSUE 17

83


84

MM ISSUE 17


The Primark Effect in Almada Forum Almada Forum | Almada | Portugal On 1 April, Primark opened its new 4,000 m2 store in Almada Forum. This is the first Primark store in Lisbon’s south bank area and, as a strategic store, it has the power to attract greater numbers of shoppers to the shopping centre. This was borne out on the opening weekend, when there were 27% more visitors to Almada Forum than the average of the previous weekends in March 2016. In the months after the opening, the Primark effect resulted in a significant 13% increase in footfall. As well as strengthening the commercial offering, the new Primark store has generated more traffic to Almada Forum, which is approaching 15 million visitors a year. These numbers will put Almada Forum among the top-3 centres in the Multi portfolio.

SHOPPING CENTRE // NEWS

MM ISSUE 17

85


SUSTAINABILITY

Multi owns or manages more than 130 shopping centres, outlet centres and retail parks right across Europe and Turkey. Multi is dedicated to running its business in an ethical and sustainable manner, strives constantly to improve its current programmes and is always on the look-out for new initiatives. The 2015 Corporate Responsibility Report showcases this endeavour, backed up by hard data and verifiable results. Sustainable shopping centre management As a large consumer of energy and water, Multi’s environmental management can have a major positive impact. In 2015, Multi launched a programme of efficient utilities management, aimed at value creation through technical and operational excellence, a reduction of its utilities consumption and an increase in cost efficiencies. “It is a very exciting programme”, says Mall Management director Luis Pereira. “It is so rewarding to witness all our countries embedding it in their day-to-day operations, while maintaining visitors comfort.” The installation of a control system on all Key Performance Indicators in the shopping centres enables the asset managers to monitor the consumption of gas, electricity, water and heating on a detailed level, to optimise the consumption pattern and reduce costs. The collected data are continuously analysed and compared to industry benchmarks.

86

MM ISSUE 17

To help the centre managers to reduce their utilities consumption, Multi has set up a ‘Handbook of Cost Efficiencies Best Practices’. These best practices vary from ‘low-no cost’ measures to investments in solar panels, with pay-back times from six months to two years or more. In Turkey and Italy, the programme has already led to a reduction in electricity usage of 15% and 10% respectively. As a result, Multi’s overall CO2 emission fell by more than 8% in two years (2013-2015). Providing the best for our customers “Part of being a sustainable business is being prepared for the future. We know that satisfied customers are the key to future success and that is why we put a lot of effort into understanding our customers’ desires, measuring our performance against these desires and working on continuous improvement”, says Multi’s Leasing Director Mark Siezen. The retail property business is, above all, a people business. Multi believes that the passion

Luis Pereira, responsible for Multi’s CR report

When people go shopping - we take care of the rest


Multi Germany, Düsseldorf

and entrepreneurship of the Multi employees involved, builds credibility and trust with the tenants who are leasing space, and the visitors that frequent the shopping centres. To monitor their satisfaction, Multi performs market research, uses focus groups, maps customer journeys, deploys mystery shoppers and performs audits and tenant surveys. Multi also innovates and invests in new technology.

Multi’s overall CO2 emission fell by more than 8% in two years The 400 million visitors annually are looking for carefree shopping in a safe environment. So of course health & safety aspects are high on the >

Sustainable relocation strategy for Multi offices To reduce the environmental impact of its offices across Europe, Multi has initiated a number of strategic relocations to modern buildings that offer sustainable facilities through innovative architecture, and that have excellent public transport connections. Multi Corporation head office moved to the BREEAM Excellent-rated 1000Mahler building in Amsterdam in 2015. Sustainability motives also led to the relocation of the offices in Istanbul in 2014 and Milan in 2015, both to LEED Gold-rated office buildings. In mid-2016, Multi Germany moved from Duisburg to a new, modern and creative open office space in Düsseldorf, which is about to receive a DGNB certificate.

MM ISSUE 17

87


Renewed EMAS III certificate for Almada Forum Almada Forum in Portugal recently renewed its EMAS III (Eco-Management and Audit Scheme) certificate. In 2010, Almada Forum was the first shopping centre in the world to obtain this distinction. The certificate is a voluntary environmental management instrument that enables organisations to evaluate, report on and improve their environmental performance and communicate their achievements to stakeholders and the public.

> agenda. A Crisis Management Plan is in place in case of incidents or threats, and there are welltrained crisis teams in each shopping centre. Using our knowledge for society A shopping centre has an important role in public life. Together with local partners the shopping centre management teams play a key role in creating and facilitating social engagement projects, charity events and fundraising in their shopping centres. In 2015, Multi donated over 30,000 m2 of floor space and some € 330,000 to charity.

Part of being a sustainable business is being prepared for the future Corporate responsibility management Part of being a responsible company is being transparent. Multi took a major step forward last year by publishing its first official CR report. Based on what internal and external stakeholders deem important, the report outlines Multi’s performance on non-financial topics, such as greenhouse gas emissions and employee engagement.

Multi Portugal joins Terry Fox Run On April 30, Multi Portugal employees took part in the Terry Fox Run, raising € 5,000 for the Portuguese Cancer Association. The Terry Fox run is an event where people get together as individuals or groups to raise money for cancer research, inspired by the story of an eighteen-yearold Canadian with bone cancer. The event was a great team building effort for a great cause!

88

MM ISSUE 17

What to expect from Multi? Multi continues to expand its corporate responsibility programme. Energy efficiency audits will be performed in all shopping centres to monitor and improve their utilities data. Multi also aims to provide more shopping centres with a BREEAM InUse certification. The 2016 CR report will be aligned with Global Reporting Initiative (GRI) guidelines, the most widely used reporting standard in the world. Multi’s ambition is to have a 2017 report that equals or exceeds the reports produced by its peers, with full GRI compliance, strong and positive results, and assurance on the non-financial data.


Multi’s Social Summer Event

On Thursday, 2 June, all Multi Corporation and Multi Netherlands employees volunteered their services at the Harteheem, a residential community for people with disabilities in Heemskerk in the Netherlands. Following cuts in healthcare budgets, there is currently no money available to maintain the gardens and houses at the Harteheem. Over 80 Multi colleagues rolled up their sleeves and got to work with passion and enthusiasm and built new sheds, painted walls, renewed gardens and did much more. The event was a great success and everyone could look back at an extremely satisfying and meaningful day.

MM ISSUE 17

89


SHOPPING CENTRE // OPENING

Official opening of renewed Gelderlandplein shopping centre in Amsterdam

Award, and Albert Heijn, the best XL supermarket in the Netherlands, play significant roles when it comes to attracting the over four million customers who visit the centre each year.

Chic, hip and a tad expensive: that is how local residents describe the renovated Gelderlandplein in Amsterdam Buitenveldert, the Netherlands. After years of renovation, the shopping centre has now been completed. On 8 April, the mayor of Amsterdam, Eberhard van der Laan, had the honour to officially open the new shopping centre. Many Amsterdam residents knew the Gelderlandplein as a little stuffy and old-fashioned, but that is now firmly in the past. The shopping centre has been transformed into a transparent shopping mecca. It now exudes contemporary luxury. The owner of the shopping centre, the Kroonenberg Group, commissioned Multi Netherlands to redevelop and add 7,500 m2 to the shopping centre, and to transform the adjacent office building into the Element Hotel. Gelderlandplein now has retail floor space of approximately 28,000 m². The range of stores on offer is a unique and well thought out mix of local private businesses and leading international brands. New arrivals include the (flagship) stores of MANGO, IKKS, Marqt, Sissy Boy, Bever, Costes and others. The range of restaurants in the shopping centre has been expanded to include Le Pain Quotidien, Takumi – Lobster & Burger, Tanuki and Saigon. The menswear retail specialist, Rick Moorman, winner of the Dutch Retail Excellence 90

MM ISSUE 17

Transformation The centre was originally set up in 1968 as a neighbourhood convenience centre. In 1997, the centre was expanded, adding offices, apartments and an underground parking garage. Each time the project made a step forward. And the retail did grow and evolve: the centre gradually shifted away from being a convenience centre towards a complete shopping centre.

From convenience centre to luxury shopping mecca Now, in 2016, Gelderlandplein has become a true retail destination. Gelderlandplein distinguishes itself from other shopping centres through its quality, its character and its sheer diversity. It has become a place where you want to stay and come back to. For lunch, shopping or simply looking for that one particular specialty shop. This is why this centre not only attracts people from the surrounding district of Buitenveldert, but also customers from the city centre, the office district Zuidas and the surrounding region. This ‘Department store near the Amstel’ is a true oneoff: Multi believes it is the only shopping centre in the Netherlands with such a high perception of quality.


Beating heart of the community Gelderlandplein aims to be more than an inwardlooking shopping centre; it is also the beating heart of the community. This is why we have placed many of the new activities, especially the F&B operators, on the outside of the shopping centre, to create a lively atmosphere. Together with the new, monumental entrances they create a stronger, vibrant and transparent connection with the surrounding area. The architects Frederik Vermeesch and Kees Rijnboutt see it this way: “This is no longer shopping on the run, as it has an enjoyable ambiance that invites you to stay.” ‘International, elegant and comfortable’ are the keywords they use to describe this ambiance. The warm feeling of welcome begins with one and a half hour free parking and a free shuttle bus. The warm feeling is enhanced on the outside with terraces and the smell of fresh coffee and warm baked bread. Amsterdam Mayor Eberhard van der Laan said he was very proud of the project. The city has invested € 2.5 million in the renovation of the outdoor space. MM ISSUE 17

91


92

MM ISSUE 17


REPORT

Food and F&B, the new engines of shopping centres By Arno Ruigrok // Associate Director Research & Concepts at Multi Corporation

Food in general and F&B in particular have become increasingly influential components of shopping centres in recent years. They play an ever more important role in attracting customers and food-related retail is growing fast. So, what is driving this trend? What forms does it take? And what can we expect in the longer term? Attitudes to food and dining undergo seismic shifts The growing interest in food is being driven by structural trends that are here to stay. It started with an uptick in the interest in healthy and responsible eating. Retail outlets with an honest and authentic appeal that offer local and seasonal products and fair production are growing in popularity. Fresh is also at the forefront throughout the supermarket business. We are seeing an increase in the overall offering of fresh foods, as retailers meet the expectations of today’s consumers. The rise in covered food markets is also part of this trend. And a number of new eating formats are developing a focus on niche markets, authenticating the fresh foods and fair trade trend.

The fact that humans are social creatures also plays a role. People have a deep-rooted need to make contact and meet other people, to see and be seen. The breakdown in traditional social bonds has created a need to look for new meaning and new places to meet people. Because city centres and shopping centres are obvious places for people to meet up, they are a natural home for restaurants. Finally, people have more leisure time and they want ‘meaningful’ experiences. Not just to enjoy, but also to learn new things, to find and give new meaning to life. They can achieve this by meeting people; ideally in places that tell a special story.

People have a deep-rooted need to make contact and meet other people, to see and be seen Creating meaningful places New shopping habits are creating opportunities for shopping centres. Most people agree they need to reposition themselves as places with multiple meanings. People are no longer visiting the city centre or shopping centre just to shop, but also to check out potential purchases in advance, to get inspiration or simply enjoy themselves. This calls for more than just the availability of shops. Obviously, leisure is one option, but F&B is a much more powerful addition to shopping, and a destination in itself. >

MM ISSUE 17

93


Forum Lviv, Ukraine

> Retail areas need to be attractive for people to spend their time. The quality of the space and the presence of various functions and formats help to create that environment. This is all part of creating meaningful places in which people want to spend quality time. From support to retail anchor Shopping centres can benefit from F&B in several ways. F&B has evolved from its original support function into a reason for people to spend significantly more time in shopping centres. For many consumers, this is the sole reason for visiting shopping centres, making F&B a new type of retail anchor. Of course, many of the people who 94

MM ISSUE 17

F&B offers the perfect opportunity to create meaningful experiences in shopping centres come for the F&B also do some shopping and most shoppers see F&B as a part of their total experience. And this growing F&B trend is set to become even more important. Some experts expect the proportion of people visiting shopping centres just to eat and drink to increase to 50% in the future, from the current 30%. So the general rule that a shopping centre should dedicate around 10%


zones, offering everything from fast food to casual dining. The number of seated restaurants is increasing – offering higher quality and often located at the edge or just outside the shopping centre. And good shopping centres tend to have lots of smaller units spread across the centre for a quick cup of coffee or a snack. F&B players are testing and adopting all kinds of

of its space to F&B is already outdated: it is more likely to be around 25%. Variety and innovation are the future Today’s F&B in shopping centres is not just a matter of places to eat and drink. The offering is actually highly varied: ranging from cheap to expensive, from slightly to very experiential, from fast and simple to slow and complex and offering cuisines from around the world. How F&B is accommodated in shopping centres is also undergoing a conceptual transformation. A simple food court no longer fits the bill. Larger shopping centres have several prominent F&B

new ideas and experiments, creating interesting new formats that inspire even more initiatives. Eataly, for example, is a genuine innovation, blending retail and F&B, mixing food purchasing and dining in the same concept. In the Netherlands, Jumbo supermarkets are experimenting with restaurants in their supermarkets. Since Jumbo absorbed the La Place F&B chain, this has taken on a new dimension. It will be interesting to see how La Place benefits from the supermarket’s logistical expertise and how Jumbo will gain from La Place’s expertise in hospitality. For many, Trinity Leeds is an example that throws down the gauntlet on how to present new, innovative and unexpected F&B formats in a shopping centre. De Markthal in Rotterdam is attracting many visitors keen to see how a farmers’ market concept can be combined with F&B. De Markthal is working actively to strike the right balance. Place making and storytelling The current dynamism in F&B has a nice side effect. It creates an opportunity to fashion extraordinary, authentic, atmospheric and meaningful places that offer an experience. And this is exactly what shopping centres are currently attempting to achieve. Added meaning and the ability to offer an experience will be crucial for shopping centres of the future. F&B offers the perfect opportunity to create meaningful experiences: creating attractive places and allowing interesting stories to emerge. MM ISSUE 17

95


St. Enoch Centre St. Enoch Centre is Glasgow’s largest shopping centre as well as one of the busiest, welcoming more than 19 million visitors every year. Well-loved retailers including Debenhams, Hamleys, H&M, Disney and Boots offer an exciting retail mix within the centre, appealing to a wide and varied range of consumers. 96

MM ISSUE 17


SHOPPING CENTRE // NEWS

at St. Enoch Centre St. Enoch is home to the most popular food court in Glasgow city centre, with a footfall of over 3.5 million. It offers visitors the chance to enjoy a snack or meal at six popular eateries including Di Maggio’s, KFC and Subway.

A major food court renovation is planned for Q1 2017. The renovation, expansion and rebranding of the current food court to ‘The Atrium Food Court at St. Enoch’ will provide additional restaurant opportunities and create a modern new space for customers to re-fuel and relax.

Food court design, St. Enoch, UK

MM ISSUE 17

97


98

MM ISSUE 17


MM ISSUE 17

99


100

MM ISSUE 17


INTERVIEW

Hungry for growth It would probably be next to impossible to find a woman in the Benelux who has never heard of the lingerie brand Hunkemöller. Hunkemöller was founded in the Netherlands in 1886 when Wilhelm Hunkemöller and his wife Josephina Lexis began selling ladies undergarments in the ‘Corset and Buste’ shop in Amsterdam. Generations of mothers and daughters have grown up with what was once a rather ‘proper’ brand. After 130 years of evolution, Hunkemöller is still alive and kicking and more fashionable than ever. The goal of the accelerated growth strategy is to make the trendy and soughtafter brand the first choice of women throughout Europe and beyond. Five-year horizon In his role as Director of Strategy, Business Development & Expansion, Marc van Maris focuses primarily on Hunkemöller’s strategic vision. Van Maris: “By applying a five-year horizon, we are attempting to clearly formulate our ambitions and core values, and to translate these to individuals in the organisation. That has been a rather daunting task, because it’s not just about great ideas, but also about putting those ideas into action and looking at the consequences within

the organisation. You have to communicate all of this information clearly, and ensure that you make optimal use of all the in-house knowledge and experience.” Appetite for growth Hunkemöller has been a subsidiary of Vendex-KBB (later Maxeda) since the 1970s. In 2011, the French organisation PAI Partners bought the company, and in early 2016, Hunkemöller was added to the portfolio of the American private-equity house, Carlyle. When asked if a new shareholder also means a change in policy, Van Maris is quick to deny this: “On the contrary. Carlyle bought the company because they have a lot of confidence in our growth strategy. Things can’t move fast enough for them.” Hunkemöller’s international >

Marc van Maris

Hunkemöller is eager to expand, so the lingerie chain has teamed up with international top model Doutzen Kroes as its new Brand Ambassador. Multi Magazine talks future strategy with director Marc van Maris.

MM ISSUE 17

101


> expansion began in the 1970s, in Belgium, and by 1996 Hunkemöller had 200 shops in the Benelux and Germany. And this growth accelerated with the arrival of new foreign owners at the start of the 21st century. The Hunkemöller Brand Journey resulted in a total of 300 shops in 2005, and 500 by 2010. Since 2014, the company has opened around 100 stores each year, taking the total to 800 in 2016. These days, Hunkemöller is an international brand, with stores in 23 countries around the globe, and the unrivalled market leader in lingerie in Northern Europe. “The drive to expand is far from over,” Van Maris says. “Our organisation is ready and the market is ripe.” Hunkemöller is aiming for an annual growth rate of 10 to 15%, with a five-year plan envisioning 1,600 shops, including a jump to 500 stores from the current 270 in Germany. “The key is to be able to start something new somewhere, or to do 102

MM ISSUE 17

something in a new and better way; then there is always room for a new brand.” Hunkemöller has even managed to succeed in markets people were initially sceptical about. Van Maris: “A good example is Sweden, a market dominated by several Scandinavian brands. Our collection was wellreceived by customers looking for something new. Thanks to flexibility, a consistent service level and the inspiring shopping experience, the launch was an immediate success.’

Acceleration is one of the company’s strategic imperatives for the coming years Hunkemöller can be found at prime, high-traffic locations in main shopping areas, in shopping centres in major cities, and in smaller cities in large


footprint markets like Germany. The chain is a symbol of stability, and many of the older shops are still in operation. Van Maris: “But retail is dynamic, so a location that is good today may no longer be viable in 20 years’ time. Closure or relocation is also part of our business.” Hunkemöller owns its European shops, while in countries like India and Panama the company partners with large, experienced players that often operate several franchise formulas in the same shopping centre. Hunkemöller was an ‘early adopter’ in terms of starting its own webshop. These days, it is a fully omni-channel brand. Part of the collection is also sold via large online retailers such as Zalando and Wehkamp. Van Maris: “We have seen that both channels reinforce each other; >

Multi’s Forum Lviv shopping centre welcomed the first Hunkemöller store in Lviv, Ukraine, on 17 June 2016

MM ISSUE 17

103


> online sales are really rising substantially, especially in areas where we have physical stores. We are now available 24 hours a day, but we believe that physical stores will always play a key role. You don’t get the same experience online as you do in an actual shop, like fitting sessions by our specially trained advisers.”

Sexy, glamourous and affordable The company is centrally managed from the Dutch head office in Hilversum, where more than 300 employees are based. The best part about the office is the lingerie samples everywhere and the pictures of glamourous models smiling at visitors from every corner. ‘It’s a woman’s world and we love it!’, says Hunkemöller. This is also where 95% of the collection is designed by a creative team that works non-stop on product innovation and product development. Looks, quality and fit must all be perfect before a design goes into production.

Talented designers travel the world looking for inspiration and translating up-and-coming trends into trailblazing collections. Van Maris: “Our designers know the right touch. The collection must be highly recognisable for customers and be reasonably priced. We aim to offer them the Affordable Dream.” Over the years, the Hunkemöller collection has become considerably spicier and more glamourous, thanks in part to collaborations with style icons like Sylvie Meis and Doutzen Kroes. Van Maris has high hopes for Doutzen Kroes as the new Brand Ambassador. “She is an international supermodel whose image and look are a perfect fit for the Hunkemöller brand experience. It is also a new experience for her to be the only face of a brand and launch her own line of lingerie.” Although Hunkemöller does not target consumers by age, the largest customer base is in the 19 to 29 age range. Van Maris: “We prefer to focus on lifestyle, on women who like to keep up with fashion trends, regardless of their age.” Various sub-brands, such as Always Sexy, HKMX (sports), Private Collection and Noir guarantee diversity for all the target groups: from young and athletic to the more sophisticated. A decade of change Looking back on the past decade, Van Maris says: “Ten years ago, we were primarily a Benelux organisation with mostly Dutch staff at the head office. We are now truly international and that really helps to promote our brand worldwide. We have gone from being a market follower to a market leader. We consider ourselves innovative and we are not scared to take the lead. More and more competitors are now imitating us, and I can’t imagine a greater compliment than that.” hunkemoller.com

104

MM ISSUE 17


“More than a shopping place. You can spend an entire afternoon in there without being bored” “Even after years living in another city, I always love coming to this mall.” - Jessica “An excellent shopping and leisure center.” - Hugo

FACTS 80,000 m TOTAL GLA 2

OPENED

2002

5,250

Parking spaces

13.8

million

visitors

per year

15 min CATCHMENT AREA

447,074

230

SHOPS

Almada, Portugal

MM ISSUE 17

105


REPORT

Strong opening year for Slovakian Forum Poprad Less than a year since its opening, Forum Poprad - Multi´s first shopping centre in Slovakia - has swiftly established very positive shopping patterns and behaviour from a growing and loyal customer base. Forum Poprad has become a welcome and natural part of daily life for the people in Poprad and the surrounding region. The average footfall has grown almost 10%, reaching some 14,000 customers per day. Not bad for a city of 50,000. And the stream of visitors continues to grow every month.

106

MM ISSUE 17

The 22,000-m2 shopping centre features some 100 retail stores, restaurants and services and a large terrace with a view to the majestic peaks of High Tatras National Park. Forum Poprad is home to numerous big-name national and international retailers. Forum Proprad attract large crowds It is a true inner city scheme, so it comes as no surprise that the footfall is higher during the week, when the centre is already an established shopping destination and meeting point. During the weekends, Forum Poprad draws shoppers from across the region from more distant places – up to 50 km – such as Kežmarok, Liptov, and other regions. During the holiday season, the centre benefits from the proximity of the Tatra mountains, one of the most visited tourist destinations in Slovakia. Forum Poprad acts as a powerful draw for international tourists, including Czechs and Poles,


Forum Poprad, Slovakia

but English and other languages can also be heard in the centre. Some brands in Forum Poprad act as a very strong magnet, such as Mohito, part of LPP Group, which acts as an especially strong draw for female shoppers from near and far, while other LPP brands also attract large crowds. The local managements of H&M and C&A are very happy with their high visitor numbers and, even more important, rising sales figures. New retailers A number of new stores have been introduced since the opening of Poprad, such as Couture, a multibrand store offering quality labels like Liu Jo, Guess and Michael Kors. Another newcomer is trendy Italian fashion label Fracomina. On the ‘coming soon’ front, we are looking forward to the

opening of a 4F sport store and a wider range of services. Thanks to these new openings, Forum Poprad is heading for 99% occupancy by the end of 2016 and will continue to deliver a top-quality, convenient retail experience.

Forum Poprad settles very quickly thanks to loyal local support Forum Poprad has settled very quickly thanks to loyal local support. Many shoppers enjoy their trip with their family, partner or friends, embracing the new centre as an enjoyable social experience. This once again confirms the feeling we had at the opening: it is as though this scheme has been here forever. Watch the Forum Propad development video xxxx MM ISSUE 17

107


Q&A

>> Milestone

Multi’s Managing Directors on the most important highlights of 2016 for Multi in their country Francisco Cavaleiro de Ferreira || MD Multi Iberia The integration of more than € 600 million in assets in the Iberian portfolio was a challenge we were able to overcome thanks to a consolidated, strong and motivated team, which allowed us to continue on our growth path and create value in the assets we manage. Dominic Deeny || MD Multi Ireland The most significant milestone for Ireland was the successful acquisition of our first shopping centre asset in Ireland, Blanchardstown Centre, and the establishment of the Multi Ireland country team. Patrick van Dooyeweert || MD Multi Turkey Multi Turkey is proud that, despite the volatile economic and political environment, we managed to record double-digit turnover growth in our assets, beyond inflation and well above the growth numbers for 2015. Besides that, we welcomed the first Mexx and Stradivarius Men in Turkey in Forum Istanbul, and the country’s biggest Sephora in Marmara Forum. All clear indicators of the trust in the Turkish market.

108

MM ISSUE 17

Dario Pistone || MD Multi Outlet Management Italy The new Multi Outlet Management Italy organisation successfully became one of the most outstanding management companies in the country. Within a couple of months, newly acquired outlets Puglia, Mantova and Palmanova aligned with the existing ones Franciacorta and Valdichiana. Also, we got approval for the ambitious expansion programme for Franciacorta Outlet Village. Luca Maganuco || MD Multi Italy The biggest milestone for us was the fact that the restructuring of the company paid off. Our growth as a management company is unparalleled in the Italian market and our operational result improved strongly in 2015 with an EBITDA margin that was 22% higher than the previous year. Thanks to a major 12,000-m2 leasing project, we solved our structural vacancy problem, and we are forecasting an occupancy rate of 97% by year-end 2016.


Françoise Dechesne || MD Multi Netherlands & Belgium The most important milestone this year was the start of construction on our projects in Zwolle and Arnhem and the delivery of some great projects on time and within budget, including Gelderlandplein and Mosveld in Amsterdam and a new convenience centre in Kampen that we have added to our portfolio. Mark Siezen || MD Multi Germany a.i. The most important milestone of the past year was the purchase of the so-called Kingfisher portfolio and the fact that Multi subsequently took over the asset management of these 55 assets. This has accelerated our position as one of the leading players in the German retail real estate market. As we continue to demonstrate our ability to drive value in our assets, we are ensuring a bright future for Multi Germany.

Arjen Seckel || Director Asset Management, UK This year has seen a further strengthening of St. Enoch’s F&B offer, with a beautiful new store for Café Nero in a listed building on Argyle Street and various other F&B operators entering the centre, including Subway and Ddoce.

Brian Jenkins & Barbara Topolska // MD Multi CEE >> See interview on page 38

Almada Forum, Portugal MM ISSUE 17

109


110

MM ISSUE 17


REPORT

Sephora the cosmetics retailer that gives its customers the freedom to experience When Dominique Mandonnaud founded Sephora in France in 1969, he created a revolution in the beauty industry by redefining the beauty counter experience. He brought fragrance and skincare out from behind the glass displays, encouraging customers to try products in-store before purchasing. Sephora has been part of luxury goods conglomerate Louis Vuitton Moët Hennessy (LVMH) since 1997. Today, Sephora is the leading chain of perfume and cosmetics stores in France and has a powerful global presence, with approximately 950 stores in Europe and 2,150 outposts worldwide. The company is serious about continuing to expand its market share. So what is the secret of this amazing ‘Sephora effect’ that is being embraced by women all over the world? At Sephora beauty is a language The range of merchandise is the widest and hottest in the beauty industry, with more than 300 upscale brands and over 15,000 products. In 2006, Sephora changed its range to stand out even more. Out

went the mass market products and what stayed were the Sephora products, exclusive brands and prestige brands like Chanel and Dior. Beauty addicts love Sephora because they know the company sells their favourite brands exclusively. Sephora is also known for its innovations on the client communication and service front. The brand has launched a number of new concepts in its stores, such as Beauty Bars (offering personalised advice) and Brow Bars (offering a signature brow service). Sephora stores radiate energy, thanks to the enthusiasm of the teams and the impact of the strong black and white shop design. Sephora claims to innovate through disruptive thinking, as this creates the best opportunities. The company adds new brands regularly and tests out new ideas to keep Sephora well ahead of its competitors.

Beauty addicts love Sephora because they know the company sells their favourite brands exclusively International expansion Sephora is not a major franchise business, as the company believes managing the brand is one of the keys to its continuing success. Sephora does make an exception in countries with legal restrictions on corporate ownership, such as India and Russia. In 1997, the company kicked off a massive expansion programme in countries like the US, Japan, China, > MM ISSUE 17

111


> the UK, 14 European countries and Turkey. Of course these markets can be very different and the spending of its customers can vary from approximately € 3 to € 70 a year. But Sephora has proven agile and responsive enough to adapt its strategy for success in all its markets.

locations. Sephora also partners with department stores JCPenney (USA) and El Corte Inglés (Spain) to open corner stores. The most recent partnership is with Swiss department store Manor, where at the opening in Geneva the security staff had to ask for police assistance to manage the crowds.

Sephora is a pioneer in creating and cultivating a strong community of customers

Customer community Sephora has long been a pioneer in creating and cultivating a strong community of customers, both online and offline, often coordinating their approach on one channel to drive results in another. Their marketing strategy is focused on blending their online and in-store experiences and promoting brand engagement via social, mobile and web platforms. Sephora developed the ‘Sephora to Go’ mobile app, which provides shoppers with a mobile experience that is tailored to their needs. At Sephora, they know exactly what they want and what they don’t want. They know all their markets inside out and prefer a landlord who shares the same global view. This year, Sephora opened its biggest shop in Turkey in Multi’s Marmara Forum. Following its recent refurbishment, Forum Montijo in Portugal proudly added Sephora to its retail mix. Sephora has also signed up for the Multi’s Polish flagship project Forum Gdansk, which is scheduled to open next year.

Iconic locations Sephora believes the best location is any location where its customers want them to be. In each new country they aim to open at least one iconic store in addition to the regular stores in shopping centres or high streets. It is what Sephora customers expect and is a vital part of the Sephora magic. The most astonishing example of this of course is the flagship store on the Champs-Élysées in Paris, with over six million visitors a year. Other sought after Sephora temples of beauty can be found in The Dubai Mall, El Triangle in Barcelona, 5th Avenue in New York, La Canopée in Paris and a dozen other prime

112

MM ISSUE 17


“Great mall with everything under one roof” ” - Kim

“You will not leave empty handed!” - Benjamin

300

SHOPS

OPENED

2011 4,000

Parking spaces

13.9

million

visitors

per year

135,000 m2

TOTAL GLA

Istanbul, Turkey

MM ISSUE 17

113


“I don’t know a better place to shop in” - Antonio

FACTS 150

OPENED

2009

SHOPS

7,000 Parking spaces

8.8 million

visitors

per year

50,000 m TOTAL GLA 2

Ankara, Turkey

114

MM ISSUE 17


EVENT

The beginning of something real On 6 September, the inaugural Completely Retail Marketplace brought together landlords, brokers and retailers from across Western Europe for one day in the Beurs van Berlage building in the heart of Amsterdam’s vibrant shopping district. Multi was one of the sponsors of this event, which provided everything needed to create the perfect environment for deal making. The networking drinks reception at the end of the day offered a great opportunity to continue conversations and follow up introductions made during the day. Françoise Dechesne // Managing Director Multi Netherlands and Belgium “We can look back on a successful first edition for both exhibitors and visitors. It was a well-rounded event, during which we wanted to provide the participants with the best facilities and project updates. The event was held close to the summer holidays, but we are proud of the fact that many big names were present at this first edition. The number of visitors was very encouraging. All the major developers, investors, agents and retailers were very excited about the formula. Unlike comparable events in London, this new Completely Retail Marketplace is much more accessible for Dutch, and other Western European retailers, landlords and brokers. Getting to Amsterdam requires no air travel expenses, making it accessible to all Dutch brands market wide, from Ahold to Jumbo, from Bruna and Primera to Kruidvat. The presence of retailers from other countries confirmed the event’s ambition: to become the Western European hub for the retail property scene for new and expanding business in the field of firstclass shopping centres and high street shopping. We are satisfied with the event, although we would still like to make a number of improvements so we can offer more stakeholders even better facilities at next edition.” MM ISSUE 17

115


Franciacorta Outlet Village, Italy 116

MM ISSUE 17


REPORT

Winning outlet centres are those that provide a ‘full day out’ experience By Herman Kok // Head of Research at Multi Corporation

Multi’s affiliate company Multi Outlet Management Italy now manages five outlet centres in Italy. These include some of the largest in the Italian market, putting Multi among the leading outlet operators in the country. Multi has a long and distinguished track record in the shopping centre industry, but the outlet centre business is a rather new experience for the company. A challenge and a promising opportunity. Young and growing Factory outlet centres are a relatively young phenomenon in Europe, dating back just over 30 years to the mid-1980s. And the classic model of 15,000 m2 GLA outlet centres, with factory outlet stores located on the periphery far away from key high street areas, is evolving to adapt to changing consumer expectations and retailer’s needs. Today, what people once thought of as ‘discount stores’ have turned into planned centres with fine architectural style and excellent shopping. Today’s centres meet eco-environmental standards and are integrated into the local landscape. These are experience-based value centres, where visitors have access to lots of other amenities besides designer brands at affordable prices. People now consider a visit to an outlet centre as a day out for

the whole family, where they can have fun, socialize, eat and drink, and above all, shop for brands. According to retail and outlet consultant FSP, there are currently more than 200 outlet centres with a surface area in excess of 3,000 m2 GLA in Europe, with a total GLA of over 3.3 million m2, and a total estimated turnover of more than € 12 billion in 2015. This seems a very small number when compared to the estimated 156 million m2 GLA of shopping centre stock across Europe, as reported by Cushman & Wakefield. It is true that 63 of these outlet centres have more than 20,000 m2 of GLA, with a number of them exceeding 40,000 m2. Outlet centres have a relatively long history in the UK, Germany and France, and now the stock is growing in Central Europe and younger markets in Eastern Europe.

Outlet centres tend to be more resistant to economic cycles than traditional shopping centres Germany is a relative latecomer on the European outlet map, mainly due to planning and regulatory restrictions. But the country now has a significant pipeline of outlet centres, and some mid-size towns even see outlet centres as a way to keep city centres competitive and attractive. Outlet centres are an important commercial destination, and can contribute to tourism and the economy in its surrounding areas. Beyond bargains So what drives outlet centres? Successful outlet centres are driven by the number and variety of stores, the presence of strong brand names, the >

MM ISSUE 17

117


> overall shopping experience, location, and the fact that customers are generally ‘successful’ in terms of making purchases. To enhance the overall shopping experience, outlets are adding attractive F&B and leisure, and are upgrading their public space into prominent areas. Outlet centres tend to be more resistant to economic cycles than traditional shopping centres and they weathered the financial crisis and subsequent recession remarkably well. While outlet centres make quality and luxury brands accessible to broad layers of the population in bullish times, higher income groups tend to visit outlets in more bearish times. This pattern of shifting clientele was a major advantage for outlet centres in the recession. Outlet centres are also much in favour among millennials.

Valdichiana Outlet Village, Italy

Making a difference Key retail brands have an outlet strategy and want to be present in outlet centres to sell and control their stocks, respond to expectations of consumers who want designer labels at preferential prices, and reach a new consumer segment. Because of the limited number of outlet operators in the higher segment, relations between tenant and outlet operator are a key factor in the success of a centre. Some would even say that the outlet operator is more important than the location. Why? Because top operators tend to be ahead of the game on the outlet innovation front. However, given the steady growth in the number of outlets, location is likely to become more important in the future. Research has shown a preference for strategic locations in catchment areas with populations that offer great potential, not very far from homes or from tourist transport options. More than 70% of the population in Europe lives within a 90 minutes’ drive from an outlet centre.

Outlet centres are much in favour among millennials The future of outlet centres is bright, as outlet centres continue to evolve in the direction of full value experience products. Winning outlet centres are those that provide their customers with a ‘full day out’ experience. Key elements are extraordinary design, strong tenant mix, effective marketing campaigns, innovative leasing to maintain a level of surprise and renewal, and timely extensions and upgrades. Multi’s efforts to strengthen Franciacorta Outlet Village near Brescia, by expanding the centre (adding 33 new shops) and improving its retail mix, are the way to go for outlet centres if they want to stay top of their league. Outlet centres are a new challenge for Multi, and a new opportunity to prove itself as a successful operator and developer.

118

MM ISSUE 17


MM ISSUE 17

119


SHOPPING CENTRE // EVENT

Franciacorta Outlet Village connects Christo & Jeanne-Claude’s ‘The Floating Piers’ Franciacorta Outlet Village | Rodengo-Saiano | Italy From 18 June to 3 July 2016, Lake Iseo in Northern Italy was the centre of a contemporary artistic experience and the international tourist circuit with Christo and Jeanne-Claude’s ‘The Floating Piers’. The temporary work of art featured three kilometre-long fabric-covered piers built across the water that continued along 2.5 kilometres of pedestrian streets in Sulzano and Peschiera Maraglio. Visitors had the chance for a once in a lifetime experience of walking on water. The nearby Franciacorta Outlet Village took advantage of the event, as one of the few authorised transport partners. Branded shuttle buses ran to the piers from the Village, from Milan and other locations, all promoting Franciacorta as an exclusive shopping destination. The shuttles carried over 50,000 visitors and over 1.2 million people walked on The Floating Piers. Franciacorta Outlet Village certainly benefited from the event: net sales were up 22.8%, footfall

120

MM ISSUE 17

was 12.8% higher, plus the Village got a lot of press coverage and visits from journalists, influencers and potential new brands. Franciacorta Outlet Village is one of the largest outlet centres in Italy, totalling 150,000 m2 with approximately 650 shops and 15 million visitors a year.


Franciacorta Outlet Village, Italy

MM ISSUE 17

121


“This outlet village has some very good shops. I enjoyed the shopping and purchased several quality items at low prices! I recommend it!” - Flora

“Worth a visit” Reginaldo

160

SHOPS

OPENED

2003

3,000 Parking spaces

4

million

visitors

per year

33,000 m2 TOTAL GLA

Rodengo Saiano, Italy

122

MM ISSUE 17


OUTLET CENTRE // EVENTS David Bowie doing a spot of DIY

David Bowie exhibition in Mantova Outlet Village

Mantova Outlet Village | Bagnolo San Vito | Italy One of the biggest hits in Mantova Outlet Village was the photo-exhibition dedicated to David Bowie, the eclectic artist and rock icon who sadly passed away this year. An extraordinary collection of 34 images, shot by UK’s top music icon photographer Michael Putland, gave an intriguing glimpse into the life of the ‘thin white duke’ at various stages of his career. The focus was ‘out of the spotlight’: the star in ordinary situations. Putland says his photographs are about trying to capture stars in their raw moments. “I’ve never been interested in trying to make everyone look beautiful,” he said. The exhibition, which ran from 29 May to 17 July, generated a lot of media interest and an increase in footfall. Watch the David Bowie exhibition video xxxx

Mantova Italian Capital of Culture

Mantova Outlet Village | Bagnolo San Vito | Italy The Northern Italian city of Mantova is a jewel of the Renaissance, famous throughout the world for its history, priceless art treasures and natural beauty. It has been awarded the title of Italian Capital of Culture 2016. The heart of the events is the historical centre, with its palaces, porticoes, churches and magnificent square. Mantova Outlet Village supported the Capital of Culture 2016 by building a temporary glass lounge in Piazza Martiri di Belfiore in the city centre, in close cooperation with the city council. From 7 July to 30 September 2016, the minimalist glass and steel pavilion was an eye-catching

info point. In addition to offering information about the Mantova 2016 programme and events in Mantova Outlet Village, the lounge staged concerts, debates and presentations. Mantova Lounge was inaugurated in the presence of Mayor Mattia Palazzi and Dario Pistone, managing director of Multi Outlet Management Italy. MM ISSUE 17

123


OUTLET CENTRE // EVENTS

The mystique of Frida Kahlo in Mantova Outlet Village Mantova Outlet Village | Bagnolo San Vito | Italy

Valdichiana Live music festival Valdichiana Outlet Village | Foiano della Chiana | Italy

Set in Valdichiana Outlet Village’s iconic Piazza Maggiore, the music festival Valdichiana Live returned in July with an impressive line-up of headline acts, including some of the top artists in the Italian music industry. Tens of thousands of visitors from several regions in central Italy came to listen and enjoy, and catch a glimpse of their idols. Crowds also gathered for this year’s new ‘Meet & Greet’ format. Fans could get autographs, snap pictures of or take selfies with their favourite artists. Backed by a strong promotional campaign and a wide multichannel media response, Valdichiana Live boosted the overall image of the outlet centre and the shops, which on this occasion stayed open until midnight.

124

MM ISSUE 17

From 28 March to 15 May, Mantova Outlet Village hosted a wonderful photographic exhibition dedicated to the famous Mexican art icon, Frida Kahlo. The artist was pictured in more than 30 images taken by the Colombian photojournalist Leo Matiz. Many of the informal shots depict scenes in the everyday life of the artist and her husband, Diego Rivera, giving insight into the artists’ worlds and their intriguing relationship. The exhibition was organised in collaboration with ONO Contemporary Art from Bologna and the Leo Matiz Foundation. It was a resounding success and generated a great deal of media coverage.


New look for Palmanova Outlet Village Palmanova Outlet Village | Aiello del Friuli | Italy Palmanova Outlet Village became the fifth asset managed by Multi Outlet Management Italy in June 2015. The Outlet Village, located in the north-east of Italy, was launched in 2008 and has 22,000 m2 of GLA and more than 90 shops (including Calvin Klein, Nike, Adidas, Guess and Tommy Hilfiger). Multi has made a number of improvements this year. These include a full rebrand with new marketing and communications materials, plus new indoor and outdoor signage. These investments in the improved aesthetics show that Palmanova is committed to its development as a retail destination and to enhancing the fantastic retail mix already available.

OUTLET CENTRE // NEWS

MM ISSUE 17

125


INTERVIEW

LPP’s

Krzysztof Bocianowski on the rise of the Polishbased fashion giant The story of LPP SA dates back to the early ‘90s, when talented entrepreneurs Marek Piechocki (now President of the Board of LPP SA) and Jerzy Lubianiec (President of the Supervisory Board) set up clothing trading company Mistral. In 1995 LPP was established, and in 2000 LLP’s first private label, Reserved, was launched. Demand was so strong that within a year the company had opened 24 stores. The company continued to grow, and in 2001 LPP listed on the Warsaw Stock Exchange (WSE). Today, the company operates the largest clothing network in Poland, with around 1,000 stores and a 25% market share. In total, it has over 1,700 shops in 20 countries, including Germany, the Czech Republic, Lithuania, Croatia, Bulgaria, Estonia, Russia and Ukraine. In 2015 the company expanded into the Middle East, opening stores in Egypt, Kuwait and Qatar. And next year it plans to move into Belarus and Kazakhstan via franchise partners, and open a store in London.

126

MM ISSUE 17

A matter of scale Krzysztof Bocianowski is Head of Expansion and Leasing Director at LPP. In his business career, Bocianowski has seen all facets of the property sector - from banking at ING, to asset management at CBRE. And since 2014 he has brought this experience to bear at LLP. During a lively interview, he manages to talk, e-mail and text at the same time; not a minute of his congested business time is wasted. With some 1,700 leases across the globe, he has a lot going on. Bocianowski explains that in addition to Reserved, LPP also owns a host of other brands, including Mohito, House, Cropp, and Sinsay. The Reserved brand sells casual clothing for the whole family, and is good for some 48% of sales. The popular brand features models such as Georgia May Jagger and Hana Jirickova for its appealing campaigns.

Growth ambition With sales of over € 1,226 million in 2015, LPP is still considerably smaller than its Spanish counterpart Inditex or Sweden’s H&M, but LPP is undoubtedly one of the world’s fastest growing fashion companies. To sustain and expand its position, the company has a clear growth ambition. “Today, the one who is not developing will not be able to keep his business, so we have to grow and >


MM ISSUE 17

127


> enlarge the network of stores”, says Bocianowski. “We want to be one of the world’s top-three fashion retailers. To make the Reserved brand global, it has to be recognisable outside Eastern Europe. Our presence is quite strong in Poland, Russia and the Baltic region, but that is not enough to become a global brand. We are continuously targeting new countries.”

Last year the company entered the Western European market, with Reserved store openings in Berlin, Düsseldorf, Munich and Recklinghausen. On the shortlist are the Benelux, Austria, and Italy. “It also depends on the opportunity”, says Bocianowski. LPP’s UK debut will be at the end of 2016, in a 2,800 m2 outlet on Oxford Street, one of London’s most high-profile sites. Bocianowski:

Forum Lviv, Ukraine

128

MM ISSUE 17

“In a new country we always try to kick off in the best location in a major city, so that the brand is immediately visible. In Belgrade and other cities we followed the same strategy. This year we plan on opening around 100,000 m2 of new stores, and next year that’ll be 120,000 m2.” With an average shop size of about 1,600 m2, this equals about six new shops every month. In-house design team The fashion industry in Poland developed relatively late in the ‘90s, after the fall of communism. Until that time there was no access to Western European trends or fashion. Most clothing on the market came from Turkey, and one national Polish fashion enterprise. The progressive LPP soon became the biggest Polish fashion company, with its own designers and brands. LPP’s brands quickly became the best examples of the international success of Polish fashion. Foreign brands, such as H&M and Inditex, began accessing the market when Poland joined the EU in 2004. Poland is now a prosperous nation with an eye for quality and the latest trends.


F.l.t.r. Małgorzata Słowik (Multi), Sławomir Łoboda (LPP), Gawein Minks (Multi) and Krzysztof Bocianowski (LPP) Multi Poland surprises LPP with a special gift celebrating its 1,000th store opening

According to Bocianowski, the success of the LPP labels is due to the wide range of distinct brands. “We offer fashion for customers of all backgrounds and cultures, and provide a range of levels for different kinds of people.” All LPP shop interiors are designed by renowned international architects, working with LPP’s in-house design team, and are periodically refurbished as they respond to changing consumer desires. Bocianowski: “Reserved is currently being refurbished. New stores have a new identity and older stores are gradually being transformed to give the brand a fresh appeal. The stores in Warsaw, Krakow and Gdansk have already been beautifully revamped, and more cities will follow.” Global online presence LPP has online shops for all its brands in Poland, and is expanding its global online presence. Bocianowski: “Every retailer needs to have an omnichannel presence. The device most commonly used today is the smartphone. Our internet sales are growing, and we have a large and dedicated team working on this. But it is important to combine it with the shopping experience. It is better if the customer can go to the store to try, exchange or buy items. Recent research shows that 85%

of all trade is done through omni-channel, but only 7% is internet only, and the remainder is somehow connected to the stores. Shop & Collect is important, so we constantly raise the service standard and make sure the product is there when the customer comes to the store. This is the future of retail. It also means that only the best shops and shopping centres will survive long term, while the small ones will convert into convenience outlets, with food and maybe some smaller retailers.”

Reserved, Mohito, House, Cropp and Sinsay became the best examples of the success of Polish fashion Larger stores size To meet current standards, the minimum size for new stores is now 1,600 m2. “This means some of the older and smaller shops that no longer fit in our strategy will be closed, or relocated.” Bocianowski believes that in today’s turbulent retail market more flexibility in a leasing contract would be preferable. > MM ISSUE 17

129


> “The ideal scenario would be an annual break up possibility, but of course this is contradictory to the expectations of the landlords who want to guarantee stable income.” He also believes that securing contracts for new locations has become more complicated. “Negotiations today are more demanding and contracts are becoming more complex.”

LPP Fashion Lab The Group is operated from the ‘LPP Fashion Lab’ in Gdansk, including LPP’s gigantic fashion distribution centre. The centre measures 70,000 m2 and handles about 120 containers weekly, with some 1.2 million items a day shipped to the distribution network. Another 13,000 m2 of the building houses training and conference facilities, including model stores of all the company’s brands. Although the company’s brilliance may come from its visionary founders Piechocki and Lubianiec, Bocianowski believes that today it also comes from the hardworking team of people behind the brand: “From designers, production, logistics to stores, all 20,000 of our people work very hard to empower this growth.”

130

MM ISSUE 17


“Excellent choice for shopping therapy” - Laura “Magnolia has always been a wellthought-out shopping centre” - Gregory

FACTS

OPENED

250 2007 expansion SHOPS

2015

3,500 Parking spaces

7.7

million

visitors

per year

100,000 m TOTAL GLA

2

Wrocław, Poland

MM ISSUE 17

131


132

MM ISSUE 17


SHOPPING CENTRE // NEWS

Huge crowds celebrate Forum Lviv’s first anniversary

Lviv as a shopping and family destination. And looking ahead, we have some exciting plans to cement that position and to take Forum Lviv to the next level and beyond with year-round events and campaigns.”

The three-storey shopping centre in the Western Ukrainian city of Lviv boasts a wide range of fashion and other retail brands and is topped by a level complete with cinema, leisure facilities and food outlets overlooking the city. It has capitalised on the bustle of the city centre and has provided opportunities for small local businesses alongside larger chain and premium brands. Marina Nesterenko, the force behind the centre management said: “Forum Lviv has come a long way since first opening its doors in September 2015. It’s unique in its concept and the first of its kind in Lviv, and we have made every effort to make it a must for every inhabitant.”

Forum Lviv is seen as an opportunity for retailers looking to expand into Western Ukraine. These include a number of Inditex brands (Zara, Bershka, Pull&Bear, Stradivarius, Massimo Dutti, Oysho), LPP brands (Reserved, Mohito, Cropp Town, House), MANGO, Comfy, Brocard, cinema Planeta Kino with 4DX, Igroland, A. Tan, Intimissimi, Calzedonia, Goover, Women’secret, Springfield, Timberland, LC Waikiki, Lacoste, and a Silpo supermarket. The centre, which is almost fully let, has already picked up six awards in the past year.

Centrally located on Pid Dubom Street, just a short walk from the city’s main square and famous Opera House, the centre offers over 100 shops and a full restaurant-food court area with entertainment, including a cinema and children’s entertainment. It has an underground parking garage with 600 spaces.

The shopping centre marked its anniversary with a social media campaign, a lottery, and a prizegiving party featuring live entertainment, children’s activities and celebrity guests. The climax of the celebrations was the anniversary concert given by the Druga Rika band that attracted huge crowds. Forum Lviv saw this as a fitting way to thank the brand-conscious people in the city for embracing Forum Lviv as a new gathering place.

Nesterenko added: “In our first year alone, we’ve already had around 9.5 million people pass through our doors. We have worked hard to position Forum

In the first year after opening, Forum Lviv has welcomed 9.5 million visitors

Watch the Forum Lviv anniversary video xxxx

MM ISSUE 17

133


Over the past three decades, Multi’s projects have built a reputation as front runners and trendsetters. The projects have won countless prestigious and highly sought-after awards for excellence in new and refurbished shopping centres right across Europe and Turkey. And the past year has been no different! Multi Magazine presents the harvest for the past 12 months.

Almada Forum, Lisbon, Portugal Gold ICSC Solal Marketing Award 2016 for ‘Red Bull Paper Wings’ Forum Lviv, Lviv, Ukraine CEE Retail Award 2015, Retail Project of the Year Retail Project of the Year at the Eastern Europe and Asia Real Estate Project Awards 2015 Diploma City Council of Lviv, ‘Significant contribution to the development of the city’, 2015 CEEQA Award for best retail development 2016 (Central & Eastern Europe Real Estate Quality Awards) Best Retail Project 2016 at the 5th annual CEE Investment & Green Building Awards Forum Bornova, Izmir, Turkey Service Quality Award 2016 by ICSC Turkey Soysal Silver ICSC Solal Marketing Award 2016 for ‘ForumBox Loyalty Programme’

134

MM ISSUE 17

Silver ICSC Solal Marketing Award 2016 ‘Forum Lviv Opening Campaign’


Armazéns do Chiado, Lisbon, Portugal Silver ICSC Solal Marketing Award 2016 for ‘Tree of Hugs’

Forum Mersin, Mersin, Turkey Service Quality Award 2016 by ICSC Turkey and Soysal

FORUM POPRAD IDENTITY GUIDELINES BASIC ELEMENTS

Forum Poprad, Poprad, Slovakia CEE Award best Retail Project Medium 2016

Forum Istanbul, Istanbul, Turkey The One Award 2016 by Marketing Türkiye for best integrated marketing

Marmara Forum, Istanbul, Turkey Gold IPRA GWA Award 2016 for ‘1 Lira Changes The World’ social responsibility project

Stadsfeestzaal, Antwerp, Belgium ICSC Special Distinction Award 2016 for ‘50 Shades of Grey Pop-up Shop’

Valecenter, Marcon, Italy CNCC Merit Award 2015 for the ‘House of Alfredo’ charity project

Various Multi Forums, Turkey Gold ICSC Solal Marketing Award 2016 for ‘Forum Fuels up the sales’

MM ISSUE 17

135


“An oasis in the desert” “Without doubt the best shopping center in Palermo and the province” - Ross “Pleasant shopping centre with great architecture” - Valley “A place for families, couples and groups of friends” - Karly “My favorite!” - Manuela

FACTS 123

SHOPS

OPENED

2009

2,500 Parking spaces

8.5

million

visitors

per year

49,900 m TOTAL GLA 2

Palermo, Italy

136

MM ISSUE 17


SHOPPING CENTRE // EVENTS

Multi shopping centres turned into Pokémon hot spots Multi shopping centres saw double digit growth in footfall during event hours after the launch of Pokémon Go in its shopping centres. Multi has started placing ‘lures’, to attract virtual Pokémon and of course players of the hit game. Five centres now have ‘Pokéstops’ and ‘Gyms’ that lure in players looking to catch Pokémon in an augmented reality environment via their mobile phone. Multi organised Pokémon fan events this summer in Forum Magnesia in Manisa, Turkey and in the Italian centres Forum Palermo, Valecenter, Le Colonne and La Scaglia. With prior announcements on social media channels and wide press coverage, the news reached an astonishing 450,000 users. The shopping centres were flooded with Pokémon and hundreds of youngsters and adults hunting the augmented reality creatures.

Pokémon events attracted masses of ‘hunters’ Shopping centre employees and gamers alike have taken to social media to share updates on the masses of young people wandering around shopping centre walkways and shops hoping to “catch ’em all”. Reportedly people are even making friends in the centre during their hunt.

Capitalising on new traffic Taking advantage of the Pokémon hype, Multi shopping centres are warmly welcoming people looking for the Pokémon characters. The plan is to replicate the Pokémon craze in more Multi shopping centres. After all, Multi’s retail venues are destinations where people come together. The ability to quickly take on the latest phenomenon or amusing trends is one of the major strengths of Multi’s marketing teams. The Pokémon Go craze offers an opportunity to stores in our centres to capitalise on new traffic and become part of an entertainment experience in an authentic, brand appropriate manner. The gaming app addresses shopping centre traffic, plus emerging trends related to social experiences and health. The key to Pokémon Go is that it requires players to travel to certain physical locations in order to play and advance in the game. For retailers it is a great opportunity to intentionally leverage that traffic and turn it into sales. As of 8 September 2016, Pokémon Go has been downloaded over 500 million times worldwide and has become the fastest game ever to make $500 million in revenues. MM ISSUE 17

137


SHOPPING CENTRE // EVENTS

Angry Birds ‘attack’ Magnolia Park Magnolia Park | Wroclaw | Poland They may be small, feathered, and very angry, but everyone loves them. On 29 May, Angry Birds flocked to Magnolia Park to celebrate Children’s Day. Thanks to Multi Poland’s long-term cooperation with United International Pictures,

Magnolia Park was able to gear up for the grand finale of the Angry Birds promotional tour. The excitement around the movie was at its peak and with the live events the mania got even more out of hand. Families got to enjoy a full Sunday of fun and surprises interacting and taking selfies with the Angry Birds Red, Chuck and Bomb. The main attraction was a ride in the epic Angry Birds double-decker bus. Magnolia Park had created a special gaming zone to give customers a chance to experience the world of the birds in reality and to catapult the birds into Pig City. “This was undoubtedly the best Children’s Day in the history of Magnolia Park. I have never seen lines this long for the attractions, and so many smiling faces”, said Tomasz Waszkiewicz, centre manager of Magnolia Park. The successful event resulted in a 12% increase in footfall and garnered wide media coverage.

138

MM ISSUE 17


#ForumLvivMusicDays

Centre stage Forum Lviv Forum Lviv | Lviv | Ukraine

Forum Madeira Comedy Festival provides hilarious summer highs Forum Madeira | Funchal | Portugal Forum Madeira, the biggest shopping centre in the city of Funchal, launched the first Forum Madeira Comedy Festival this summer. On Wednesday nights, the central square was transformed into an open-air theatre to offer the best in comedy on this beautiful island.

Forum Lviv hosted a major community engagement event in February. The event was a celebration of music, with a unique 1924 Steinway & Sons grand piano as a stand-out attraction in the main atrium of the shopping centre. The campaign was launched with a concert in memory of a famous and beloved Ukrainian pop-rock legend performed by the Lviv Orchestra and enjoyed by more than 800 people. During #ForumLvivMusicDays the shopping centre was home to professional musicians, local celebrities, gifted amateurs and even entire families performing on the Forum Lviv main stage. The key goal of the event was to strengthen community engagement and profile Forum Lviv as both a trendy meeting point and a ‘third place’, where people feel a sense of belonging. It was a huge success and generated a massive response on social media.

Forum Madeira proudly presented a line-up that included six of Portugal’s top comedians, such as Pedro Tochas and César Mourão. The performances included stand-up comedy, theatre, circus, improvisation and music. Tens of thousands of comedy fans flocked to the centre to witness the free, meticulously curated shows in a unique atmosphere. The event generated a lot of wide media interest and TV coverage. The Comedy Festival reinforced Forum Madeira’s position as one of the best places for cultural events in Madeira.

MM ISSUE 17

139


Forum

Palermo

Forum Palermo | Palermo | Italy

Forum Aydin, at your service everywhere! Forum Aydin | Aydin | Turkey Forum Aydin launched a playful mobile information desk project as part of Forum Aydin’s customer service and experience-oriented marketing strategy. The info desk staff rides across the shopping centre on branded Segway’s to bring their services to customers. This project called ‘Danış Bana’ (‘ask me’) extends the reach of the information desks into the shopping centre itself and means the staff can provide better information more quickly on all kinds of issues, while at the same time offering a friendly welcome. The mobile info desk hosts and hostesses wear sample outfits of brands that can be purchased in Forum Aydin. ‘Ask me’ has been very well received by customers and has helped to increase the service quality and speed of response to customer queries. 140

MM ISSUE 17

Forum Palermo focused on Pop Art in the autumn of last year. The exhibition ‘Forum Palermo goes pop art’, featured forty iconic works of art signed by the American pop art artist Andy Warhol, together with a king-size Keith Haring puzzle. The immortal masterpieces on show included Warhol’s take on Marilyn Monroe, the American Book, Cats, Invitation Flowers, plus famous magazine covers with Richard Gere, Tom Cruise, Stevie Wonder and others. It was the first Andy Warhol exhibition in Sicily and visitors came from far beyond the catchment area to see the works, including students and local school classes. Footfall was up by 8.5% during the exhibition.


SHOPPING CENTRE // EVENTS

Brussels Airlines & Red Devils land in Stadsfeestzaal Stadsfeestzaal | Antwerp | Belgium Stadsfeestzaal picked up on current events with a smart real-time marketing campaign. Following the terrorist attacks on 22 March 2016, we needed all hands on deck to counter the downward trend in business. Just two months after the attacks, KLM opened a pop-up store in Antwerp promoting free train tickets to Amsterdam for Belgian travellers flying KLM. The Belgian Consumer Association and politicians condemned the action. Stadsfeestzaal, always up for a stunt, contacted Brussels Airlines and proposed to counter KLM with a Brussels Airlines pop-up shop in the shopping centre. Just one week later Brussels Airlines, official sponsor of the Belgian national football team, Red Devils, opened a unique concept store in Stadsfeestzaal on the Meir to coincide with European Football Championships. Visitors could take a selfie in Business Class seats, purchase limited editions of model aircrafts, make virtual tours in the Red Devils plane and, of course, win football and airline tickets. The one-month pop-up shop handed out more than 7,500 Belgian flags to cheer on the national football team. Watch the Stadsfeestzaal event video xxxx

MM ISSUE 17

141


Happy kids

in Forum Sintra Forum Sintra | Sintra | Portugal

Forum Algarve | Faro | Portugal The World Press Photo exhibition of award-winning photos is shown worldwide in 45 countries and 100 cities, reaching a global audience of four million people each year. This summer, Forum Algarve hosted this unique exhibition for the second time after an absence of five years. The opening of the exhibition was attended by Mรกrio Cruz, the Portuguese photojournalist who emerged as the winner in the Category Contemporary Issues with his picture Talibes, Modern-day Slaves. A record-breaking 37,000 people visited Forum Algarve to see the best press photography from around the world.

142

MM ISSUE 17

Shopping with kids no longer has to be exhausting at Forum Sintra. Since 1 July, the shopping centre has blessed parents with one of the best playgrounds in a Portuguese shopping centre. Reino do Gui is a 160-m2 outdoor playground that was especially designed for Forum Sintra. The design is inspired on the Gui mascot and Palรกcio da Pena, an iconic monument of Sintra. Now 3 to 12-year-olds can choose from tons of cool things, including a maze, air tunnels, climbing frame, suspension bridge, a climbing wall and a viewing tower. Reino do Gui complements the existing indoor playground Aldeia do Gui. It offers a monthly schedule of free activities, workshops and a Gui music studio. Reino do Gui has proven an astonishing success, with a 100% traffic increase in the East Square of the shopping centre in its first month.


SHOPPING CENTRE // EVENTS

Le Colonne | Brindisi | Italy Le Colonne Shopping Centre promoted the first ‘Lovely Rumble: classic cars and bikes for solidarity’ in December 2015. The charity campaign was endorsed by five municipalities in the region and organised in partnership with two associations. A colourful parade of gorgeous vintage cars and motorbikes traveled through nearby villages to the shopping centre. The aim was to collect donations and toys, to provide children in need with Christmas presents. The vehicles attracted a great deal of attention and were admired by thousands. A strong communication campaign, backed up by posters, radio & TV spots, a press conference, a website and Facebook page, generated a lot of publicity. The organic reach on social media was 11,458 unique people and the paid reach came in at 48,610 people. Watch the Lovely Rumble video xxxx Facebook post 1,200 likes

MM ISSUE 17

143


I love walking in the forum. I’ll always find what I want, what I need, and even what I don’t need but can’t resist!”- Ana P. “Really cool and spacious, I love the architecture. Always looking forward to go back.” - Ruth S.

155

SHOPS

OPENED

2003

3,900 Parking spaces

7.4

million

visitors

per year

Montijo, Portugal

144

MM ISSUE 17

39,800 m2 TOTAL GLA


SHOPPING CENTRE // EVENTS

Forum Montijo | Montijo | Portugal The city of Montijo is located in the middle of Portugal’s largest flower nursery region. After the success of last year’s event, Forum Montijo organised the second edition of the Flower Festival in spring 2016. The shopping centre was transformed into a Garden of Eden, complete with floral installations and sculptures depicting national symbols such as Fado, artisanal fishing and wine making. Forum Montijo also organised a fashion show to showcase new pret-a-porter collections and trends, with famous Portuguese models and actors navigating the catwalk to the music of fado singer Cuca Roseta. It was a glamourous spectacle that drew thousands of people to the centre, resulting in a 3.7% year-on-year increase in footfall and a media value of € 188,446.

Shop & relax in

Lviv

Forum Lviv | Lviv | Ukraine In July, Forum Lviv drove the midsummer sales spirit with a mission to get customers in a relaxed mood and to reward loyalty with special offers from its shops. A relaxing beauty paradise operated in the main atrium at weekends, rewarding customers for their purchases. Shoppers could choose their favourite treatment from mehndi design to make-up, hairdo or some other treatment. To boost social media activity, Forum Lviv ran a ‘Dinner on the Tower’ contest, generating over 750 participants and exposure to around 65,000 followers. The summer relax campaign was concluded with the Forum Lviv Summer Party, attended by over 900 people. The park zone was turned into a real chill-out summer location with groups of friends playing Frisbee, a sun-tan zone, beachwear fashion shows and a foam party. Watch the Forum Lviv summer event video xxxx MM ISSUE 17

145


For more information about Multi’s retail projects please contact: International

Multi Poland and Latvia

T +31 20 2588 100

T +48 22 22 22 800

Mark Siezen, European Leasing Director msiezen@multi.eu

Multi Czech Republic and Slovakia T +420 2 2101 5911 Taťjána Kukulová, Senior Leasing Manager tkukulova@multi.eu Kateřina Chadimová, Leasing Manager kchadimova@multi.eu Gabriela Soukupova, Leasing Manager gsoukupova@multi.eu

Multi Germany T +211 61703700 Andreas Nienkemper, Leasing Manager anienkemper@multi.eu Olaf Kamann, Leasing Manager okamann@multi.eu

Multi Ireland T +353 1 696 5060 Simon Cooper, Leasing Director scooper@multi.eu

Multi Italy T +39 02 30462800 Maurzio Oprandi, Leasing Director moprandi@multi.eu Francesco Mezzanotte, Leasing Manager fmezzanotte@multi.eu Lucia Valentina Riboldi, Leasing Manager lriboldi@multi.eu

Multi Outlet Management Italy T+39 02 30462800 Liliana Colombo, Leasing Director lcolombo@multi.eu Luca Nasi, Leasing Director lnasi@multi.eu Monica Introzzi, Leasing Manager mintrozzi@multi.eu Giorgia Fornasari, Leasing Manager gfornasari@multi.eu Federica Barone, Leasing Manager fbarone@multi.eu Stefano Marchesan, Leasing Manager smarchesan@multi.eu

Multi Netherlands and Belgium T +31 20 258 8888 Daniel Schönberg, Leasing Manager dschonberg@multi.eu Joachim Demmer, Leasing Manager jdemmer@multi.eu

Małgorzata Słowik, Leasing Director mslowik@multi.eu Anna Piotrowska, Senior Leasing Manager apiotrowska@multi.eu Jakub Ociepka, Senior Leasing Manager jociepka@multi.eu Monika Bielak, Senior Leasing Manager mbielak@multi.eu

Multi Portugal T +351 21 413 60 00 Pedro Congrinho, Leasing Director pcongrinho@multi.eu Jorge Pinto Fernandes, Mall Management Director jfernandes@multi.eu

Multi Spain T +351 21 413 60 00 Pedro Congrinho, Leasing Director pcongrinho@multi.eu Jorge Pinto Fernandes, Mall Management Director jfernandes@multi.eu

Multi Turkey T +90 212 349 1000 Özge Ülkü, Leasing Director oulku@multi.eu Özge Zeybek, Leasing Manager ozeybek@multi.eu Meltem Ölek, Leasing Manager molek@multi.eu Işıl Abacıoğlu Ander, Leasing Manager iabacıoglu@multi.eu Şenay Yılmaz, Leasing Manager syilmaz@multi.eu Arlin Delice, Leasing Manager adelice@multi.eu Gülşah Gökçe, Leasing Expert ggokce@multi.eu

Multi Ukraine T +38 044 220 06 70 Gawein Minks, Development Director CEE gminks@multi.eu Marina Nesterenko, Center Manager Forum Lviv mnesterenko@multi.eu

Multi United Kingdom T +31 20 2588 100 Arjen Seckel, Director Asset Management aseckel@multi.eu

Disclaimer: Despite the constant care and attention we spend on this magazine, it is possible that the information in the magazine is incomplete or incorrect. All information, products and services are offered in a current state and without any warranty or guarantee regarding their accuracy, suitability or fitness for any particular purpose or otherwise. We exclude any liability for any direct or indirect damage of any kind arising from or in any way connected to the use of this magazine. The information contained in this magazine is not legally binding. Any copyright protected works or other information in this magazine may not be disclosed or reproduced without the permission of Multi.

146

MM ISSUE 17

Multi Headquarters 1000Mahler building Gustav Mahlerlaan 1025 1082 MK Amsterdam The Netherlands T +31 (0)20 2588 100 F +31 (0)20 2588 111 E office-nl@multi.eu


Forum Montijo, Portugal

Multi Magazine is a publication of Multi Corporation and is circulated on a non-paid controlled basis. Publisher Multi Corporation, Gustav Mahlerlaan 1025, 1082 MK Amsterdam, The Netherlands multimagazine@multi.eu Editor-in-chief Barbara Voskuil-Geerlings Features writer and editor Sandra Dijksman Editor Garry Piggott Contributors Ellen van der Feltz, Herman Kok, Luis Pereira, Arno Ruigrok, Mark Siezen, Harry Vroemen, all Multi Marketing and Communications managers Art DIrection Bernice van der Voort Design Bernice van der Voort Eveline Brosky Photography Joni Israeli, Sebastian Rudnicki, Benjamin Struelens, Wolfgang Volz and others Special thanks to Krzysztof Bocianowski (LPP) Ramon Kabbedijk (Five Guys) Marc van Maris (Hunkemöller) Sérgio Marques (Parfois) Hervé Montaner (Sephora) Marjan Schoonderwoerd (Donner Bookshop) Coniq

C023454

multi.eu

MM ISSUE 17

147


Multi Magazine Issue 17  

We are proud to present the Multi Magazine, edition November 2016. In this magazine, you will read about the extension of our portfolio, our...

Read more
Read more
Similar to
Popular now
Just for you