![]() ![]() Their capabilities encompass design, manufacturing, distribution, and marketing goods for both brick and mortar and e-commerce sales. According to Dun & Bradstreet, the Lyndhurst, NJ based company claims 10,000 employees, generating $843.45 million in sales. The Simon/ABG, Sparc Group has already born some sweet retail fruit. To quote David Simon CEO of Simon Property Group "They're very, very good about understanding where there is value in the brand because they know how they can monetize that intellectual property.” ![]() They generate an eye-popping $12+ billion in sales, annually. Additionally, they have built a stable of best-in-class manufactures, wholesalers, and retailers.ĪBG has created over 100,000 sale touchpoints across specialty, luxury, mass, mid-level, department store and e-commerce channels, internationally. Their portfolio of over 50 consumer brands reads like a Who’s Who of popular culture and fashion. I believe Sparc Group won’t make those mistakes.Īuthentic Brands Group has cultivated a stable of world-class brands Source: Cision PR Newswire Sanford SteinĪs a key partner in the resurrection of these four retail brands, Authentic Brands Group is employing its highly refined toolkit to overcome what has been overlooked and should introduce measures of brand sustainability. This left many retailers with too many locations, lack of focus on their customer, and a commoditization of their own brands. The classic exception is Apple AAPL, which today, August 19, 2020, reached a market valuation of $2 trillion dollars.Īnd, as I have often written, one of retails own undoing’s stemmed from the notion of growth being a strategy, rather than a tactic for success. Too few have had a history of quantifying, prioritizing, or even measuring brand value. The thing that got many of these bankrupt brands in trouble in the first place was often driven by “what got measured, and what didn’t.” Retailers historically (often at their own peril) have fixated over the KPI’s that measure units sold, sales per square foot, comp sales, you know the drill. Based on published numbers of both previous store closures as well as estimations of numbers of units expected to remain open, that would put the partnership in charge of 1,173 retail units, many of which do reside in Simon Property malls. “That’s where the return on investment is - and so even if we may slow down next year or even into the holiday season, I don’t think the growth from our existing business is going to slow down because the demand for new deals and space is there.Last week the Sparc Group, LLC added Lucky brands to its fleet of bankrupt retailers, which now includes Aeropostale, Forever 21, and Brooks Brothers. ![]() “Physical retail is where the action is,” he said. And it’s that simple because the returns on e-commerce just aren’t quite what everybody talked about.” And if they’re in the retail business, and they want to grow, they’re going to open stores. “So the flight toward brick-and-mortar is real,” he said. And I would tell you…that where they’re seeing most of the pressure is in the e-commerce business. And you’re always going to have a deal here or there that falls apart for all sorts of different reasons, but nothing based upon the macro conditions. “We have yet to see any pullback in opening new stores or renewals,” he said. The CEO acknowledged the macro-economic troubles vexing the world and consumers, particularly on the lower end of the income spectrum, but said his empire was well positioned. dollar, rising interest rates and inflationary pressures.” Simon noted that the bump up in the forecast “comes in the face of a strong U.S. Base minimum rent per square foot increased 1.7 percent to $54.80.įor the full year, Simon is looking for comparable FFO per share to range from $11.83 to $11.88 - an increase, at the midpoint, of 12 cents from the guidance given in August and 26 cents from the forecast in February. malls and premium outlets, occupancy rose to 94.5 percent at the end of the quarter from 92.8 a year earlier. But the mall giant’s comparable funds from operations - the standard yardstick in real estate - inched up 1.4 percent to $1.1 billion, or $2.97 a diluted share. 30 slipped to $539 million from $679.9 million a year earlier. Simon’s net income for the quarter ended Sept. “We reported another record in the third quarter of $749 per square foot for the malls and outlets, which was an increase of 14 percent year-over-year.” “Our shopper remains resilient,” he said. Now, his brick-and-mortar belief is resonating more broadly with e-commerce growth rates back to their historical norm and open storefronts in malls being snapped up. NewJeans Puts Edgy Spin on Y2K Style for Lollapalooza 2023 Chicago in Raw-edge Pleated Miniskirts ![]()
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