Retail News CRM

Tag: Taubman

  • Shinsegae, Taubman Asia open Starfield Anseong

    Shinsegae, Taubman Asia open Starfield Anseong

    The new Starfield Anseong, the second joint venture between Taubman Asia and Shinsegae Property, opened today in Anseong, Gyeonggi Province, South Korea. The one million square foot, modern shopping, entertainment, and dining destination is Taubman Asia’s fourth successful development project. It will serve as the primary mall for Anseong, one of the fastest-growing areas of South Korea. This press release features multimedia.

    The new Starfield Anseong mall in Anseong, Gyeonggi Province, South Korea Starfield Anseong is nearly 100 percent leased, with over 90 percent of tenants open, and is expected to be fully occupied by year-end. The mall is anchored by Shinsegae Factory Store, E-Mart, Toy Kingdom, and successful entertainment concepts, including Aquafield, Sports Monster, and Megabox, an upscale cinema. Starfield Anseong also offers 280 of the most in-demand fashion, dining, and entertainment concepts. In response to the global pandemic, the mall has implemented a wide variety of enhanced safety protocols in accordance with legal requirements.

    “Starfield Anseong represents the best of the collective expertise of Shinsegae Property and Taubman Asia,” said Paul Wright, president, Taubman Asia. “We are pleased to offer this impressive assortment of retail, dining, and entertainment experiences to customers in Gyeonggi.” “Starfield Anseong will serve customers in the southern region of Gyeonggi and will meet the high expectations of the local residents following the successful opening of Starfield Hanam and Starfield Goyang,” said Young-rok Lim, president, Shinsegae Property.

    “With a high priority on customer safety, we are certain our customers will experience a true shopping theme park previously unseen anywhere in the region. Starfield Anseong’s diverse offerings such as children’s education, entertainment, and food and beverage facilities, which have proven popular in other Starfield facilities, have been strengthened and together with other popular brands making their regional debuts, are all gathered in one place.” Shopping & Dining Starfield Anseong’s wide variety of prominent international brands includes Zara, Nike, Uniqlo, H&M, Vans, COS, Guess, Adidas, BMW, Patagonia, Camper, Polo Ralph Lauren, Lacoste, West Elm, and Under Armour.

    Popular national brands such as SPAO, Genesis, Beanpole, Studio Tomboy, Jaju, Casamia, Wonder Place, and Hanssem are also featured. Approximately 100 of the mall’s brands are the first store of the kind in this region of Greater Seoul. The mall has dedicated 113,000 square feet to dining options, including Gourmet Street’s eight restaurants and the Eatopia food court featuring 21 unique food kiosks, optional outdoor seating, and views of the neighborhood park. City Market, anchored by No Brand Supermarket, offers 15 additional casual dining options, a deli, and nine specialty food concepts that include a wine shop, a butcher, and a bakery.

    Other dining destinations include Sanghaeru, Tokkijung, Lobster Bar, No Brand Burger, and Mansukjang. Entertainment & Experiences Starfield Anseong offers many entertainment options and experiences, including a 48,000 square foot Megabox cinema with seven screens, a 28,000 square foot Sports Monster sportsplex with everything from rock climbing to basketball, and a 98,000 square foot Aquafield indoor/outdoor water park and spa. Concepts focused on children’s entertainment includes Champion 1250X and Sang Sang Sketch Play.

    Lees ook:

    Lees ook:

  • Simon pulls out of merger deal with Taubman

    Simon pulls out of merger deal with Taubman

    US mall operators Simon Property Group and Taubman Centers have called off their planned merger, citing the impact of Covid-19 on the retail industry.

    Simon was to buy an 80-per-cent interest in Taubman, with the Taubman family retaining a 20 percent stake in a US$3.6 billion deal. Taubman owns, manages and/or leases 23 super-regional shopping centres in the US and three in Asia via its Hong Kong-headquartered Taubman Asia business.

    Simon says it was pulling out of the deal because it believed Taubman’s properties were “disproportionately hurt” by the pandemic due to their location in densely populated cities and tourist locations and had high-end tenants whose sales had been hit particularly hard this year.

    However, Taubman has indicated it will fight to protect the deal, arguing the decision was without merit and plans seek damages from Simon.

    The Asian properties which would have been part of the merger are the Starfield Hanam in South Korea, ​and the Chinese properties CityOn Xi’an and ​CityOn Zhengzhou.

  • Taubman Asia names new president

    Taubman Asia names new president

    Taubman Asia president Peter Sharp has resigned after almost three years in the role.

    Parent Taubman Centers has announced Sharp’s replacement will be Paul Wright, executive VP and global head of leasing, who will relocate to Hong Kong and take up the new role on January 1.

    “We thank Peter for his contributions and his steadfast commitment to driving the company’s growth in Asia,” said Robert Taubman, chairman, president and CEO of Taubman.

    a

    “Paul’s significant relationships with global retailers and partners, and his knowledge of the Asia market, has been an important part of our business in the US and abroad,” said Taubman. “This promotion is the natural next step for Paul, and his competencies will be essential as we prepare to open Starfield Anseong in South Korea in 2020 and evaluate other opportunities in the region.”

    Wright, joined Taubman Asia in 2006. During his tenure, he led the leasing program for the company’s ground-up development properties in China — CityOn. Xi’an (opened April, 2016) and CityOn.Zhengzhou (opened March, 2017), as well as Starfield Hanam (pictured) in South Korea (opened September, 2016). He also led leasing of IFC Mall in South Korea, a center for which Taubman Asia previously provided leasing and management services.

    Prior to joining Taubman Asia, Wright worked with Citta Management Limited where he was responsible for leasing, property management and retail operations at the Taipei 101 Mall. He also held management roles with Lendlease Corporation in Asia and Jones Lang Wootton in Perth and Sydney. An Australian, Wright speaks Mandarin Chinese and English.

    Lees ook:

  • Taubman Sells Shares of Three Asian Shopping Centers

    Taubman Sells Shares of Three Asian Shopping Centers

    US retail property specialist Taubman Centers is to sell a 50 per cent stake in three of its shopping centres in China and Korea to funds managed by private equity company Blackstone Group. The deal, worth US$480-million, is expected to be settled later this year and will net Taubman about $315 million according to financial news reports. The company will maintain a share of up to 25 per cent in each property.

    Post settlement, Taubman will be contracted for the ongoing management of the centres.

    The centres are South Korea’s Starfield Hanam, and China’s CityOn Xi’an and CityOn Zhengzhou.

    Taubman manages a 26 regional, super-regional and outlet shopping centres in the US and Asia, and has another property under development. CEO Robert S Taubman said the sale was part of a strategy of recycling capital for growth.

    Lees ook:

  • Starfield Korea opens dog lounges for shoppers

    Starfield Korea opens dog lounges for shoppers

    Starfield, a shopping and theme park franchise operated by South Korean retail giant Shinsegae Group, has opened the country’s first ‘dog lounges’ for customers and their pets. The dog lounges offer specially designed sofas for pets as well as their owners, restrooms for pets, and dog hooks where customers can temporarily leave their pets when they have to go to the restroom themselves.

    The lounge also provides separate resting areas for customers and pets divided by a glass wall. Resting areas for pets have house-shaped sofas, authentic grass floors and restrooms.

    “Starfield was South Korea’s first shopping mall chain to allow pets, but we were always aware of the lack of convenience facilities for customers and pets,” said Choi Jae-kyun, operations manager at Shinsegae Property.

    “Now, we can proudly present ourselves as a pet-friendly shopping mall that both customers and pets can enjoy.”

    Lees ook:

    Lees ook:

  • Korea’s PK Market to enter the US market

    Korea’s PK Market to enter the US market

    Shinsegae’s discount chain E-mart plans to enter the US by opening its premium food outlet PK Market.

    While mostly high-end products will be sold at the South Korean group’s outlet, some of its low-tier private brands such as No Brand and Peacock will also be offered.

    E-mart is eyeing cities with significant Asian communities, such as Los Angeles and San Francisco. It may also acquire a food factory in Portland, Oregon, for producing its Peacock products for the US.

    E-mart has also joined hands with US shopping mall giant Taubman, which helped establish Starfield shopping malls in Korea.

    The Korean company has been trying to diversify its global reach, particularly after closing down stores in China over the THAAD row. Its accumulated operating loss in China has reached more than KW150 billion (US$141 million) since 2013, according to industry sources. E-mart finally exited the Chinese market last month.

    Meanwhile, the company plans to open its second outlet in Ho Chi Minh City in May.

    Lees ook:

  • Shinsegae department store opens Tesla charging stations

    Shinsegae department store opens Tesla charging stations

    Tesla has completed the installation of three Destination Chargers at Shinsegae department store in the Gangnam, Seoul.

    The move follows the opening of two showrooms in the city last month as the brand picks up momentum with its South Korean operations.

    It was the second set of Tesla chargers introduced at a Shinsegae outlet after another batch was installed at the Yeoju Premium Outlets.

    Tesla charging stations 3

    The Korean giant Shinsegae Group signed a partnership with the American automaker last year, planning to equip 25 of its locations with Tesla’s charging stations this year.

    One of the two Tesla stores that opened last week is located in Starfield Hanam, the largest shopping complex in Korea, which opened last year under a Shinsegae-Taubman partnership.

    Lees ook:

  • Massive opportunity for China retail investment

    Massive opportunity for China retail investment

    China retail is “rife with opportunity” for retail and property investment according to a new report released at China Mall 2020.

    Taubman Asia, a subsidiary of US mall REIT Taubman Centers, and Mingtiandi, China’s leading source of retail intelligence, released at the Hong Kong China Mall 2020 conference today a white paper with industry-leading insights on the future of China’s retail sector. The report analyses the challenges and opportunities for retail in the world’s second largest economy and provides a holistic overview and insights on the swift growth and dynamics of Chinese consumer behaviors over the past 15 years.

    “China is uniquely positioned to build a modern, connected, and relevant retail real estate sector by 2020,” said Michael Cole, executive editor of Mingtiandi, and managing researcher for China Mall 2020.

    “China’s malls of the future will be those that embrace powerful new technological capacities made for digital marketing and incorporate smart design elements to meet increasing consumer and retailer needs – differentiating the retail experience.”

    Specifically, the report discusses several key drivers that will inform the future development and success of Chinese malls, including:

    • Shopping center designs will need to be rethought to accommodate shoppers looking for cultural and social experiences as much as for visitors looking to tick items off their shopping lists;
    • Integration of digitally-enabled strategies, such as online-to-offline (O2O) and big-data level resources will be needed to bring management of offline retail on par with online competitors;
    • Adoption of mobile technologies, to meet consumer demand for on-the-go research in stores, will be needed to keep in tune with a market of mobile-connected shoppers; and
    • Mall development, including innovative leading strategies that bring together the right mix of retailers at a pace that matches the increasing urbanisation of China and is able to anticipate the evolving needs and expectations of the Chinese consumer.

    René Tremblay, president of Taubman Asia, said the company has always been optimistic about the growth and untapped potential of the China market, “and we were encouraged to see the results of Mingtiandi’s independent research affirm this view”.

    “We believe the industry is undergoing its first stage of evolution, and we are well placed to lead the development of this next generation of malls in China – leveraging our 65 years of international development and design experience, as well as our robust local team.”

    He said that while media reports often focus on how the macro environment has played a key role for a shopping slowdown sweeping the country, China Mall 2020 forecasts the sustainable growth of Chinese consumption, and suggests the cause of the retail sector’s struggles might lie more on bullish planning and early optimism of some retailers.

    Similarly, while addressing the threats of an online retailing boom, the in-depth study showcases how traditional retailers and mall developers are on their way to fine-tune their marketing strategies, leveraging new technologies to drive more business.

    Guohua Zhang, China MD of Taubman Asia said the retail scene in China is becoming increasingly sophisticated.

    “Instead of viewing external forces as threats, many malls in China are utilising a powerful mix of digitally enabled strategies that leverage mobile, social platforms and big data together with traditional marketing approaches. These kinds of innovations are critical to our approach for the market.”

    China Mall 2020 also analyses how the unique social context in China has evolved shopping malls from a shopping oriented destination to a public space cultivating social and cultural experience for the Chinese population.

    The full report is now available for download on the Taubman Asia China Mall 2020 website. Taubman Asia, the sponsor of the project, is an active leader in retail real estate in the region. Its portfolio in China includes two CityOn lifestyle projects underway in Xi’an and Zhengzhou and The Boulevard at Studio City in Macau, which will open in October 2015. The company also owns Hanam Union Square in Greater Seoul, opening late 2016, and manages operations for the IFC Mall in Seoul which opened in August 2012.

  • Melco Crown Entertainment teams up with Taubman Asia to develop Boulevard project at Studio City resort in Macau

    Melco Crown Entertainment teams up with Taubman Asia to develop Boulevard project at Studio City resort in Macau

    Melco Crown Entertainment and Taubman Asia, the Asian arm of the US Mall operator Taubman Centres, on Thursday unveiled plans to develop the Boulevard project at Macau’s entertainment, retail and gaming resort, Studio City.

    Studio City is a new cinematically-themed entertainment and leisure destination in Macau which is scheduled to open in the third quarter of 2015. Taubman Asia is providing merchandising, marketing and management services for its retail project.

    “The Boulevard at Studio City, a unique, 300,000 sq. ft. ‘immersive’ retail entertainment environment, will bring the world’s best shopping to life in Macau by transporting guests to high-energy street-scapes, entertaining them at every turn with featured streets and squares inspired by iconic shopping and entertainment locations, including New York’s Times Square and Hollywood’s Beverly Hills,” the two companies said in a statement.

    The retail project will open in the third quarter this year, coinciding with the opening of the Studio City integrated resort.

    “Taubman Asia is in the business of creating world-class experiences for our customers,” said René Tremblay, President of Taubman Asia. “Along with Melco Crown Entertainment, we are developing a one-of-a-kind retail entertainment experience that will cater to the discerning tastes of Greater China’s consumers.”

    Taubman Asia has conducted detailed research of the Macau landscape in order to develop a strategic and focused approach which brings together the right mix of fashion-forward brands to deliver an unmatched retail experience for customers.

    Lees ook:

  • Taubman Asia reveals Studio City retail plan

    Taubman Asia reveals Studio City retail plan

    Taubman Asia and Melco Crown entertainment have revealed details of the new shopping centre planned to open in Studio City, Macau in the third quarter of this year.

    Taubman Asia will tenant and manage the 70-store single story shopping complex on Melco’s behalf. While the two companies won’t reveal what percentage of the 300,000 sqft retail space has been leased so far, a Taubman Asia spokesperson told INside Retail Asia leasing was “progressing well”.

    Melco Crown Entertainment 5-415

    The two companies plan a “unique, entertainment-centered shopping experience” at the new Studio City, which has a distinct Gotham architectural look, a Batman experiential ride attraction and Hollywood movie themes throughout.

    Melco Crown Entertainment 4-415

    The Boulevard at Studio City, as the retail component will be called, is described as an ‘immersive’ retail entertainment environment.

    “It will bring the world’s best shopping to life in Macau by transporting guests to high-energy street-scapes, entertaining them at every turn with featured streets and squares inspired by iconic shopping and entertainment locations, including New York’s Times Square and Hollywood’s Beverly Hills,” the two companies said in a media statement Thursday.

    Melco Crown Entertainment 6-415

    “Taubman Asia is in the business of creating world-class experiences for our customers,” said René Tremblay, president of Taubman Asia.

    “Along with Melco Crown Entertainment, we are developing a one-of-a-kind retail entertainment experience that will cater to the discerning tastes of Greater China’s consumers.”

    Melco Crown Entertainment 2-415

    Robert S Taubman, chairman, president and CEO of US-based Taubman Centers said The Boulevard is poised to be “one of the most exciting shopping destinations in Macau”.

    “We look forward to a long and fruitful relationship with Melco Crown Entertainment.”

    Taubman Asia is providing merchandising, marketing and management services for its retail project.

    A spokesman told Inside Retail Asia the company wants to create a unique retail offer at the resort, not replicate existing retail offers in the territory.

    “We are targeting fashion forward brands which are more progressive, more edgy, contemporary.” Tenants will be encouraged to offer ranges or lines exclusive to the Studio City stores to make them a destination for locals as well as visitors.

    Melco Crown Entertainment 3-415

    A foodcourt area will be focused on casual dining style. “Food will be a major drawcard,” the spokesperson said.

    Lawrence Ho, co-chairman and CEO of Melco Crown Entertainment said Studio City is an entertainment-inspired leisure destination that will fulfil Melco Crown Entertainment’s aims to be a strategic catalyst in furthering Macau’s economic diversification from a pure gambling destination.

    “With the combination of Melco Crown Entertainment’s expertise in developing world-class integrated entertainment resorts and Taubman Asia’s deep experience in the global retail industry, I am confident that The Boulevard at Studio City will deliver an exciting and dynamic shopping environment that will delight customers and bring a further, new and unique non-gaming attraction to Macau.”

    Studio City’s distinctive art-deco facade includes a “Golden Eye” gondola ride which straddles the resort’s two-tower hotel at a height of some 130 metres.

    Its entertainment offer will include the “Studio City Event Center”, a 5000-seat multi-purpose entertainment center designed to host live concerts, theatrical and sporting events. The entertainment experiences also include a magic theatre “The House of Magic” and a Warner Bros. Batman-themed motion ride “Batman Dark Flight”, a 36,000 sqft family entertainment center “Warner Bros. Fun Zone” for kids filled with Warner Bros.’ and DC Comics’ franchise characters and play-rides, together with “Pacha Macau” which will bring Ibiza-style nightlife to Macau.

    Melco Crown Entertainment 1-415

    Lees ook: