They must be an attractive, sophisticated environment for the luxury retail consumer, and the rationalization of retail portfolios provides us with the opportunity to do this by converting existing retail into mixed-use spaces for hotels, restaurants, co-working, entertainment, etc. Luxury brands have made us change the way we look at real estate: as we said, malls have become more than just places to shop. This Must Mean Major Transformation At Some Of Your Properties Where Legacy Retailers Are Themselves Rationalizing Their Retail Portfolios. And of course, this means giving the luxury Houses ample room to showcase their iconic brands, creating an environment that attracts affluent, discerning shoppers. So the shopping mall has to become a destination – a place to play, work, and live in addition to being a place to shop – with a variety of services beyond retail to appeal to the high-end customer. This is because the consumer is looking for new experiences – he or she has to have a reason to venture out of the home. Luxury retail trends are making us focus more and more on hospitality – providing as much as possible the kinds of services and experiences you’d expect to find at a five-star hotel. Chairman, CEO and President of the Simon Property Group How Has Simon Property Group’s Strategy Evolved To Align With The Current Trends In Luxury Retail?
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