Retail coming to Philadelphia (Reading, York: insurance, taxes, outlet malls)

[kyb01]

Originally Posted by MarketStEl

Waldenbooks was part of Borders Group.

That company went bankrupt and liquidated itself.

Maybe we'll be lucky and get an Amazon Books store.

(You do all remember what Amazon started out as, right?)

There's an Amazon Bookstore in the TimeWarner bldg in NYC.

[asiandudeyo]

Originally Posted by cpomp

There might be one in Delaware, not sure...

The list is definitely a good start. I hope some more solid brands like LL Bean or Nike join the list. Or some nicer factory stores like J Crew, Coach, MK, etc.

I personally think that the list of stores are solid.
A&F, Hollister, H&M and AEO are solid. These are staples in most middle-class malls.
Still waiting for a kids-oriented store a la Lego, Build-A-Bear, Playmobil or American Girls. Rumor says there will be one of them - don't know which one. I think it will be Lego Store.

[asiandudeyo]

Originally Posted by kyb01

There's an Amazon Bookstore in the TimeWarner bldg in NYC.

Yeah.
There are couple actually in Manhattan. One in Columbus Circle, which replaced A|X to my horror.
One by NYU.

[rowhomecity]

I agree with cpomp;

The best scenario for FDP is to score a balance of tenancy, that ranges from lower end to moderately higher, with the lower to mid market range being full line stores, and some of the higher end retailers being the outlet form. Honestly I see this formula working BEST, and in my mind this is what PREIT and Macerich are working towards.

Now when most individuals hear the words 'outlet mall' they typically think of the suburban outdoor model, filled solely with outlet retailers. Typically they are destination centers, and serve a single purpose (discount shopping).

The proliferation of online retail, e - commerce, and the extremely low cost to entry for apparel, has created a hyper competitive apparel retail market. Consumers now more so than ever, cross shop and cross brand in a way not typically done in the past.

For example, in one single shopping trip, it is now very typical for an individual to purchase designer jeans at Bloomingdales for $195, a top at Zara for $39, and a discounted well branded jean jacket for $49 at the likes of T.J Maxx or Century 21, to create a highly sought out and fashionable look, at an attainable price point, with items of varying quality.

Consumers today, still value good brands, and good quality, but are willing to intermix price points, brands, and items of quality more than ever before. And therefore the makes of a shopping district/mall/etc. are slowly catching on.

Even the likes of CB2 captures this model. Within CB2 you have attainable 'luxury/higher quality' products in the $1,000 - $2,000 range for large pieces of furniture, and then home accessories in the $50 and less category. To be frank I was truly impressed, and so far it is the best example I have seen of any non - discount retailer of maintaining high brand image, across all price points.


With that, I think understanding Macerich is key. They are a powerhouse in this type of retailing, and I truly think they are going to bring the same quality to Fashion District Philadelphia.

I mean we did change the name to Fashion District Philadelphia, from Fashion Outlets Philadelphia. Did we not? lol


Here is Macerich's Chicago project which is quite recent, and it really exemplifies this cross retailing I was referring to above. I have faith while, maybe not to quite the exact same scale, the project is going to have a similar outcome.

Here is the link to Fashion Outlets Chicago and the Yelp to provide some pictures of the interior/style. Remember PREIT is the majority stake, but Macerich has a VERY hefty stake in this project

Also it should be noted; the way these stores are branded are very different from a typical outlet mall. They are indeed the outlet version, but the signage and branding does not indicate they are giving you a lower experience for a retailer.

To be frank these type of retail centers are as much of an experiment for the retailers as the operators, as many are trying to find the new balance in this world of retail saturation and hyper competition.


Fashion Outlets of Chicago | Home

https://www.yelp.com/biz/fashion-out...icago-rosemont

[MarketStEl]

Originally Posted by rowhomecity

I agree with cpomp;

The best scenario for FDP is to score a balance of tenancy, that ranges from lower end to moderately higher, with the lower to mid market range being full line stores, and some of the higher end retailers being the outlet form. Honestly I see this formula working BEST, and in my mind this is what PREIT and Macerich are working towards.

Now when most individuals hear the words 'outlet mall' they typically think of the suburban outdoor model, filled solely with outlet retailers. Typically they are destination centers, and serve a single purpose (discount shopping).

The proliferation of online retail, e - commerce, and the extremely low cost to entry for apparel, has created a hyper competitive apparel retail market. Consumers now more so than ever, cross shop and cross brand in a way not typically done in the past.

For example, in one single shopping trip, it is now very typical for an individual to purchase designer jeans at Bloomingdales for $195, a top at Zara for $39, and a discounted well branded jean jacket for $49 at the likes of T.J Maxx or Century 21, to create a highly sought out and fashionable look, at an attainable price point, with items of varying quality.

Consumers today, still value good brands, and good quality, but are willing to intermix price points, brands, and items of quality more than ever before. And therefore the makes of a shopping district/mall/etc. are slowly catching on.

Even the likes of CB2 captures this model. Within CB2 you have attainable 'luxury/higher quality' products in the $1,000 - $2,000 range for large pieces of furniture, and then home accessories in the $50 and less category. To be frank I was truly impressed, and so far it is the best example I have seen of any non - discount retailer of maintaining high brand image, across all price points.


With that, I think understanding Macerich is key. They are a powerhouse in this type of retailing, and I truly think they are going to bring the same quality to Fashion District Philadelphia.

I mean we did change the name to Fashion District Philadelphia, from Fashion Outlets Philadelphia. Did we not? lol


Here is Macerich's Chicago project which is quite recent, and it really exemplifies this cross retailing I was referring to above. I have faith while, maybe not to quite the exact same scale, the project is going to have a similar outcome.

Here is the link to Fashion Outlets Chicago and the Yelp to provide some pictures of the interior/style. Remember PREIT is the majority stake, but Macerich has a VERY hefty stake in this project

Also it should be noted; the way these stores are branded are very different from a typical outlet mall. They are indeed the outlet version, but the signage and branding does not indicate they are giving you a lower experience for a retailer.

To be frank these type of retail centers are as much of an experiment for the retailers as the operators, as many are trying to find the new balance in this world of retail saturation and hyper competition.


Fashion Outlets of Chicago | Home

https://www.yelp.com/biz/fashion-out...icago-rosemont

Jimmy Choo runs an outlet?

Impressive roster of tenants Macerich recruited for that mall - which is in the 'burbs.

But that IMO bodes well for what we will see when all the pieces fall into place at FDP.

[rowhomecity]

Originally Posted by MarketStEl

Jimmy Choo runs an outlet?

Impressive roster of tenants Macerich recruited for that mall - which is in the 'burbs.

But that IMO bodes well for what we will see when all the pieces fall into place at FDP.

Yes, the official term is known as 'designer outlets', I guess you could say this is a step above your typical outlet store (lol) given that the store fronts in nearly half of the mid - market and nearly all the high market retailers, in no way indicates the term 'outlet' or discount. But who knew, yes there is indeed a Prada outlet, ladies and gentlemen.


And I am sure like their full line cousins, the number of designer 'outlets' will be quite limited in quantity as retailers are in a test phase.

For many retailers, it offers a chance in a limited and controllable space to offer their products to a larger consumer base. Millennials (love us or hate us) are the largest generation in the US, and retailers are aware that within a decade this generation will increase its spending power dramatically. Therefore the strategy is to offer a piece of the pie now, to build brand loyalty later.

Macerich is extremely innovative in its retailing strategies and this is why I am putting way more faith in FDP, knowing they are involved.

If Macerich was not involved in this, I would not be as opportunistic. Although I do not predict FDP will have the same concentration of these designer outlets as the Chicago Fashion Outlets. I do want to note that the Chicago Fashion outlets does indeed also have nearly all the mid market retailers that are signed at FDP thus far; Bath and Body, Sketchers, AE, etc.


Here is an article about this evolving form of retail and designer outlets and the work of Macerich; a key player with stakes in our very own Fashion District Philadelphia

http://stories.forbestravelguide.com...-is-a-must-see

[asiandudeyo]

Originally Posted by MarketStEl

Jimmy Choo runs an outlet?

Impressive roster of tenants Macerich recruited for that mall - which is in the 'burbs.

But that IMO bodes well for what we will see when all the pieces fall into place at FDP.

Yes, Jimmy Choo has outlets.
But their stuffs are usually from last seasons; not stuff made for outlets.
Same with other renowned / luxury brands, like Balenciaga, Armani and Hermes; They usually have outlets that sell last season products in limited locations.
But don't get the word "outlet" fools you. Their discounted items are still more expensive than the regular stuff you find in normal stores.

[kyb01]

The Ludlow rentals at East Market are supposed to open next month so that should probably help whatever FDP ultimately turns into success-wise.

[cpomp]

https://www.phillymag.com/foobooz/20...-philadelphia/

[MarketStEl]

BTW, folks:

I scoped out CB2 last Friday, and I don't want to hear any of you dissing it as a somehow "cheap" or "inferior" Crate & Barrel.

It's a different animal: it's focused almost laser-like on contemporary design where Crate & Barrel has many more traditionally styled items.

Where it does depart from the main chain's formula is in its housewares and tableware. As I said to the manager, they feature Crate & Barrel prices on the furniture and Ikea prices on the glassware, flatware, dinnerware and stuff. Actually, this is a little too simple: you can spend $2 on drink tumblers or you can spend $20 on them, depending on what style you pick. But they do try to aim at a broader range of customers in the decor and housewares sections.