×
458
Fashion Jobs
RANDSTAD INDIA PVT LTD
Area Sales Manager (Consumer Durable Industry)
Permanent · Mumbai
AVRO INDIA LIMITED
Area Sales Manager- Ludhiana, Amritsar/ mP-Indore, Bhopal
Permanent · Ludhiana
AVRO INDIA LIMITED
Area Sales Manager- Ludhiana, Amritsar/ mP-Indore, Bhopal
Permanent · Ludhiana
SOSYO HAJOORI BEVERAGES PRIVATE LIMITED
Area Sales Manager
Permanent · Mumbai
VIKRAM TEA PROCESSOR PVT LTD
Area Sales Manager
Permanent · Ahmedabad
HERITAGE FOODS INDIA
Area Sales Manager(Hyderabad & Vijayawada) @ Hfl
Permanent · Hyderabad
NASH INDUSTRIES (I) PVT. LTD.
Production Manager Position With Nash Industries-Pune
Permanent · Pune
ACCELERATE SOCIAL WELFARE FOUNDATION
Area Sales Manager
Permanent · Noida
VR INDUSTRIES PVT. LTD
Area Sales Manager
Permanent · Chennai
G.R. BATHLA & SONS
Marketing Executive/Area Sales Manager
Permanent · Ludhiana
PEOPLE ALLIANCE WORKFORCE PRIVATE LIMITED
Cutting Manager/Production Head - Garments Industry
Permanent · Bhiwandi
KALPA ELECTRIKAL PVT. LTD
Hiring For Production in Charge/ Manager (8-15 Yrs Exp)
Permanent · Bengaluru
TARGET PUBLICATIONS
Regional Sales Manager
Permanent · Mumbai
THE BANYAN HR CONSULTS
Head HR For Garments Manufacturing Company at Chengalpattu, Tamil Nadu
Permanent · Chennai
IUMENTAS LIFE SCIENCE
Veterinary Sales Manager For The State of Assam
Permanent · Guwahati
HINDCO RECRUITMENT CONSULTANTS
Production Manager| Leading Plastic Manufacturing Company| Umbergaon
Permanent · Navsari
HINDCO RECRUITMENT CONSULTANTS
Production Manager| Leading Polythread Manufacturing Company| Ranchi
Permanent · Ranchi
ENGGSERVICES2INDIA
Production Quality Manager - Immediate Requirement
Permanent · Bengaluru
DIASORIN HEALTHCARE INDIA PRIVATE LIMITED
Area Sales Manager
Permanent · Hyderabad
METROPOLIS HEALTHCARE
Territory Sales Manager @ Mumbai
Permanent · Mumbai
GTROPY SYSTEMS PRIVATE LIMITED
Direct Sales Manager - Faridabad
Permanent · Faridabad
METROPOLIS HEALTHCARE
Territory Sales Manager @Amravati/Nagpur/Aurangabad
Permanent · Nagpur
By
Reuters
Published
Jun 8, 2017
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Mall owner GGP doubles down on brick and mortar retailing

By
Reuters
Published
Jun 8, 2017

The head of GGP Inc, one of the biggest high-quality U.S. mall property owners, sees the recent spate of U.S. department store closings as a chance to expand its redevelopment operations with plans to buy 100 of the shuttered emporiums.


GGP is betting that malls do have a future. - DR



Sandeep Mathrani, chief executive of GGP, on Wednesday said he was not against department stores but has latched onto their concept of offering a wide range of products under one roof.

In the past six years GGP has redeveloped 115 department stores that once were mall anchors, and the real estate investment trust (REIT) has plans to redevelop another 100 in the next few years.

"What we have done is, the mall has really become the department store," Mathrani said at 2017 REIT Week, an investor forum organized by the National Association of Real Estate Investment Trusts. "We've done this 115 times. We have a pretty good idea that it actually works."

Mathrani is convinced malls can thrive and overcome an e-commerce surge, which has forced thousands of U.S. retail stores to close in recent years, if they are filled with the right mix of retailers with a product customers want.

Macy's closed 63 stores earlier this year, while JC Penney and Sears Holdings announced plans to shutter about 290 department stores. Brokerage Cushman & Wakefield has estimated up to 8,000 retail stores could close in 2017.

GGP's shares are down 9.4 percent so far this year on investor fears e-commerce will destroy malls and retail stores. Shares of other retail REITs are down 30 percent, but have come off their recent lows.

Mathrani, like many other owners of retail venues, believes the malls can survive and thrive because shoppers need to touch, feel and see a product, and because brick and mortar resolves the issue of the "last mile" in distributing consumer goods.

When a consumer picks up an order at the store, it costs the retailer $0.75, Mathrani said. If the retailer ships the product to the consumer, the cost climbs to $5, he said. While picking up the order at the store, the consumer often shops and buys more, a sale the e-commerce retailer misses, he said.

In short, brick and mortar has an advantage over on-line shopping and will survive, while e-commerce needs to acquire a physical presence to gain market share, Mathrani said.

"At the end of the day, the retailer may evolve, but the real estate stays," he said.

 

© Thomson Reuters 2021 All rights reserved.