Downtown Dadeland in Miami was once a struggling retail center, but it was turned around via transformation into an urban, mixed-use space and selective addition of retail tenants. The 127,635-square-foot property, which was recently sold to Midtown Capital Partners of Miami, is now 98% leased and has doubled in value since 2014.
Schiaparelli, a French couture brand, will partner with Bergdorf Goodman in several initiatives to increase its US presence. It will open a pop-up boutique at the retailer's Fifth Avenue store in New York City, and it will also take over window displays.
Upstart retailers are helping to transform retail centers across the county. Neighborhood Goods is a new concept that provides short-term and flexible leases to help bring online brands to local markets, while Fourpost will showcase about 30 local brands to give those brands better access to customers.
Target opened its first Dallas-area small-format store on Wednesday, with a full-size beauty department and scaled-down versions of other merchandise categories. The 55,000-square-foot store sells beer and wine, and departments are arranged for convenience and tailored to local tastes.
Tractor Supply and its 1,900 stores serving rural areas of the US have grown in the age of e-commerce with products that aren't practical for online shopping, such as baby chickens. The retailer booked $7.3 billion in sales last year, a 56% increase over five years, and plans to open 500 more locations by 2028.
Interogo Holding has invested $190 million for a 0.6% stake in fashion retailer Hennes & Mauritz. The Swiss investment firm's parent, Interogo Foundation, was formed to "secure the independence and longevity of the Ikea concept."
Fashion-rental service Rent the Runway has teamed with shared-office-space firm WeWork to create new drop-off spots. The company has outfitted 15 WeWork locations in six cities with automated boxes where customers drop off returns after scanning them for immediate credit.
China's e-commerce sales surpassed $1 trillion in 2017, and Alibaba Group, Tencent Holdings and other tech leaders are innovating with the latest in retail technology to create new shopping experiences. The country is leading in development of technologies, including biometrics and facial recognition, Bloomberg Intelligence analyst Vey-Sern Ling said.
Fourpost is one of a growing number of startups helping direct-to-consumer brands add brick-and-mortar retail components. The company is creating its first Studio Shops at the Mall of America in Minneapolis and in Canada at the West Edmonton Mall in Alberta, which offer brands signage, fixtures, employees, shared event space and other physical amenities.
Retailer John Lewis has launched a new service that will let consumers shop after hours, provided they spend at least £10,000. The offer is in place at the newest John Lewis location in Cheltenham, England.