New players, new locations, and new shopping habits have changed the luxury market dramatically in the past five years. But stores remain a “destination” for shoppers and tourists alike. Real estate is alive and well… and adapting. Here’s how, and why.
An historic multi-city, multi-mall, multi-brand deal between Kering and Hang Lung Properties, one of the biggest real estate developers operating in mainland China, ensures the Group will be well-placed to benefit from a major shift in Chinese shopping habits. Kering’s Real Estate Director, Sergi Villar, explains the strategy behind the Group’s latest expansion in China.
Point of view
Luxury consumers are changing the way real estate developers look at shopping malls. Today, malls are more than a place to shop: they are destinations for living, working and having fun. David Simon, Chairman, CEO and President of the Simon Property Group, the world’s biggest Real Estate Investment Trust and the largest shopping mall operator in the US, speaks about keeping pace with the changing luxury retail market.