Simon Property Group has expanded a partnership with retail technology provider Dropit to offer its tenants the ability to optimize functions like ship from store, inventory management and returns, powered by AI, initially at 60 Simon locations. Dropit’s technology sits on top of a company’s OMS, WMS and inventory management systems, augmenting order sourcing, fulfillment, delivery and returns.
Reversing course, Authentic Brands Group, owner of over 30 retail properties including Aeropostale, Forever 21, Fredericks of Hollywood and Barney’s New York, is selling significant equity stakes to CVC Capital Partners and HPS Investment Partners instead of pursuing an IPO.
While Happy Returns has solved for the efficient consolidation of ecommerce returns at its growing network of mall-based returns bars, a new joint solution from BlueDot and Adeptmind aims to take the same approach on the purchase end by consolidating curbside pickup at U.S. malls. BlueDot’s CMO explains how it works.
Mall owners should be looking at a variety of alternative tenants in order to drive traffic and keep their investments vital as more retail stores shutter and pandemic restrictions remain, according to a new report from Placer.ai. The suggestions include micro-fulfillment centers, medical and dental businesses and pop-ups.
Amazon is working with Simon Property Group, the largest owner/operator of shopping malls in the country, to convert some shuttered J.C. Penney and Sears anchor stores into local fulfillment centers to augment its already massive network and facilitate last-mile speed, the Wall Street Journal reported.
The National Retail Federation and the International Council of Shopping Centers are asking the Trump administration and the federal government for relief for members who are being hard hit by the coronavirus crisis, much as are other industries such as airlines and hospitality, as mall, store and restaurant closures grow.
Calling out Amazon for destroying brand differentiation and citing customers’ demands that brands be wherever they want them, real estate venture firm Fifth Wall closed a $100 million fund to help digital natives add stores. The fund is backed by some of the largest retail real estate owners and service providers in the U.S. and abroad.
After months of speculation, apparel retailer Forever 21 announced it is filing for Chapter 11 bankruptcy protection. The company had been exploring restructuring options to avoid liquidation as its business struggles continue.
Several bidders including two large U.S. mall owners, Simon Property Group and General Growth Properties have placed a bid for Aeropostale assets. This would allow for Aeropostale to remain open in a footprint of 229 stores.