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Premier Outlet Centre, Budapest, Hungary (left); Giles Membrey, Managing Director of Rioja Estates Ltd and member of the ACROSS Advisory Board (right). /// credit: Rioja Estates, Premier Outlet Centre

“CO-OPERATION BETWEEN ALL STAKEHOLDERS IS THE MOST IMPORTANT THING WHEN IT COMES TO OUTLETS.”

The European outlet market is saturated; there are only a few white spaces. Rioja Estates is one of the most experienced European pre-developers and, as such, the first authority to decide whether a location can work. Together with ACROSS publisher Reinhard Winiwarter, Giles Membrey examines the outlet market in 2024 and explains why all players should urgently address technology, which markets in Europe still have potential, and how his company’s focus areas are changing.

founder and publisher of ACROSS Magazine (left), and Klaus Striebich, Managing Director of RaRE Advise and Head of the ACROSS Advisory Board (right). /// credit: ACROSS, Klaus Striebich

NEVER STOP ADAPTING AND CONCENTRATING ON THE TOP PRIORITIES

As the year draws to a close, Reinhard Winiwarter, founder and publisher of ACROSS Magazine, and Klaus Striebich, Managing Director of RaRE Advise and Head of the ACROSS Advisory Board, pause to reflect on the retail real estate industry’s current state. Although 2024 has shown many positives, the two industry experts are concerned about one thing: the possibility that many industry players will not be able to keep up with the speed of change.

Rüdiger Dany, CEO of NEPI Rockcastle (left), Magnolia Park shopping center in Wroclaw, Poland (right). /// credit: NEPI Rockcastle

“GO INTO THE MARKET AND BUY NOW”

Well deserved honor: Rüdiger Dany, CEO of NEPI Rockcastle, received the lifetime achievement award at the prestigious 19th SEE Property Awards. This prize recognizes and celebrates Rüdiger Dany’s incredible 30-year career and his invaluable contribution to the real estate industry. In 2024, he continued to write his personal success story and that of NEPI Rockcastle. Probably no other company performed as well as NEPI in 2024. Reason enough to talk to Rüdiger Dany about the highlights of his company as well as current developments and challenges.

Will Odwarka, Founder and CEO of Heartatwork Hospitality Consulting (left), and Jonathan Doughty, Managing Director of Viklari Consulting Ltd (right). /// credit: ACROSS, Will Odwarka, Jonathan Doughty

WILL & JOHNNY’S TOP 10: THE MOST SUCCESSFUL AND NOTEWORTHY FOOD CONCEPTS

Will Odwarka, Founder and CEO of Heartatwork Hospitality Consulting, and Jonathan Doughty, Managing Director of Viklari Consulting Ltd and Partner at Juniper Strategy, are food & beverage experts. They have helped to shape some of the most exciting F&B projects in Europe and beyond – but they are also travelers. For the latest print issue of ACROSS, the industry experts have compiled their Top 10 restaurants and hospitality businesses worldwide. Their selection illustrates one thing above everything else: To be among the leading F&B concepts, it is not necessary to create a specific menu or to offer a particular cuisine or format, nor does it matter whether you are a new or an old player in the market or whether you offer fast food or gourmet dishes – the most decisive factors are maximum customer focus and authenticity.

In January 2023, Sonae Sierra announced a further step in its growth in Italy by signing a partnership with Chorus Life for the leasing of the retail space of the new “City of the Future” model, developed by the POLIFIN Group and built by COSTIM. /// credit: Sonae Sierra

“THE GREATEST NEED IN PROPERTY MANAGEMENT TODAY IS ADAPTABILITY”

“Across all markets, we are seeing that retail has remained a resilient and thriving sector,” explains Cristina Santos, Executive Director Property Management at Sonae Sierra. More than almost any other European company, Sonae Sierra is strategically diversified across several regions and adapts to the specific requirements of each. The company has extensive experience with its own properties and has increasingly used that knowledge as a cornerstone of its approach to manage third-party properties.

The Tirana East Gate (TEG) shopping center in Albania was conceived from the beginning as a flagship property and is constantly being developed as such. /// credit: ACREM

Mall Management à la TEG: “For Retailers We Offer More Than Shop Space – We Offer Possibilities In A Vibrant Market”

ACREM is the mall management company behind TEG (Tirana East Gate). The shopping center in Albania set a completely new standard regarding professionalism and efficiency, resulting in the Albanians not having to hide behind the Western industry giants in terms of footfall and catchment areas. ACROSS Management Director Reinhard Winiwarter discussed with Elda Hysenbelli, CEO at ACREM, and Joana Korimi, Head of Marketing at ACREM, what mall management and marketing à la TEG looks like, what their customers demand, and why some customers feel so comfortable in the center that they even get married there.

Retail Talk: Uncovering The REAL Issues Of Retail Real Estate — “We Need Shopping Experience To Be The Key Behind Every Decision Between Retailer, Operator, Landlord and Investor”

“We need something that is consistent between retailer, operator, landlord and investor, and can be the key behind every decision, and shopping experience is the obvious answer.” Our latest Retail Talk, “Uncovering the REAL Issues, Problems and Challenges of Retail Real Estate”, revealed that many of the retail industry’s current issues can only be tackled if first we solve the problems that stem from within, as skills such as leadership, fast adaptability to the changing market environment, courage, as well as mutual understanding during the decision-making process are necessary yet barely present in the industry.

Global Retail Attractiveness Index: New high in European retail markets

GRAI 3/2024 is driven by greater consumer confidence. The index compiled by Union Investment and GfK sees increased signs of recovery in eight European countries. The most significant increases are visible in Sweden and the Czech Republic, while overseas regions are stabilizing at a weak level.

credit: Rioja Estate/McArthurGlen/Hammerson

EUROPE HAS BECOME SATURATED, SO WHERE NEXT FOR OUTLETS?

In recent years, Europe has seen a proliferation of designer outlet malls, catering to savvy shoppers seeking luxury brands at discounted prices. However, the market in Europe is now showing signs of saturation, prompting developers and investors to look beyond traditional borders for new opportunities, says Giles Membrey, Managing Director, Rioja Estates. This shift is driven by various factors, including market maturity, consumer saturation, and the quest for untapped potential in emerging regions.

Roger Goyk, Director of Retail Brookfield Properties (left), Jonathan Doughty, Special Project Manager at ECE (right). /// credit: Brookfield Properties, ECE

THE PLAYCE IN BERLIN: THERE WAS NO NEED FOR “JUST ANOTHER” SHOPPING MALL

Like no other German shopping center, “The Playce” at Potsdamer Platz in Berlin is a shopping and cultural destination that focuses on food and beverage, leisure, and retail stores that are new to Berlin or unique in their concepts. One and a half years after its opening, The Playce is now 96 percent leased. ACROSS discusses why now is the best time to be part of the project with Roger Goyk, Director of Retail Brookfield Properties, and Jonathan Doughty, Special Project Manager at ECE.

credit: BBE Retail Consultancy, WOW Concept

CUSTOMER HAPPINESS NEEDS TO BE REFLECTED IN TURNOVER FIGURES

True retail experience represents a major opportunity to inspire and retain customers when they visit a store – perhaps the only opportunity, says Dr. Johannes Berentzen, Managing Director of retail consultancy BBE. Yet, how can experience and, by extension, success be measured? In an interview with ACROSS, the strategy consultant talks, among other things, about how and why we need to rethink space in brick-and-mortar retail, which key figures we should question, and what role technology plays in the process. The underlying challenge: The successful implementation of good ideas requires creativity, entrepreneurial courage, and the necessary funds.

André Stromeyer is the Managing Director at HBB Centermanagement. /// credit: HBB

RETAIL REAL ESTATE IN A STATE OF CHANGE

In order for retailers and retail property operators to inspire and retain customers in the long term, it is essential that they rethink their spaces and develop innovative concepts, according to HBB. Such new approaches include the redefinition of multi-sensory shopping experiences and strategies to enhance the customer experience.

credit: Breuninger

“WE DON’T THINK IN TERMS OF INDIVIDUAL CHANNELS – WE THINK AS A BRAND.”

Breuninger has been pursuing a consistent omnichannel approach since 2008. Ideally, customers should feel no difference between the channels. At the same time, the openings in Munich and Hamburg are a clear statement in favor of brick-and-mortar retail. ACROSS spoke with Alexander Entov, Managing Director of Breuninger’s Department Store in Munich, about what positive experiences “made by Breuninger” look like, why there should be no separation between the offline and online worlds, and why customer feedback is ultimately the most important factor.

credit: ACROSS

ACROSS Retail Talk: Rethinking Brick-And-Mortar Retail — “Continuous, Step-By-Step Improvement Of The Shopping Experience Is Key”

“Change for the sake of change is not a good concept because it just creates extra costs. If a retailer´s concept and strategy work as intended then offering occasional surprises, and introducing smaller changes is more beneficial. Drastic changes must be kept as a last resort for cases where a concept or strategy is not working.” Our latest ACROSS Retail Talk, “Rethinking Brick-and-Mortar Retail By Increasing the Shop Floor Experience,” revealed, among other things, that to avoid predictability and ensure an exciting shopping atmosphere at a location, having the right mix of data and creativity is necessary, as it can turn an average, predictable visit to a location into a memorable experience.

credit: Stratosferica

Utopian Hours Festival Turin: Taking an international look at cities and rethink them.

Utopian Hours, taking place 18-20 October in Turin, Italy, is a three-day international event organized by urban knowledge agency Stratosferica, showcasing and discussing new concepts and inviting guests and audiences to suggest a new way of conceiving human evolution. Starting from the first edition in 2017, the festival aims to give for the eighth time a voice to the people behind these changes: City makers, activists, architects, and innovators share their experiences and stimulate new visions for the future and concepts of cities. ACROSS spoke to Daniele Vaccai, Project Developer at Stratosferica, about the festival, its program, and speakers.

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