With hundreds of stores closing their doors to customers for good at a pace never seen before, the retail space available has reached uncharted levels. While this wave of retail stores closures started over a year ago, the unstoppable advance of coronavirus has proven the deadly kiss to commercial property worldwide. In the past few months,...
17 Nov 2020
Mall owner Simon Property Group was brutalized by the height of the coronavirus pandemic with months of temporary store closures. Some tenants have closed stores all together and were unable to pay their rents, costing the company massive revenue declines. On Monday, Simon Property Group reported that quarterly revenue fell 25 percent. This was...
11 Nov 2020
New York –In a matter of weeks, a leading commercial property firm, Simon Property Group, and a multi-brand apparel conglomerate, Authentic Brands, have joined forces and snapped two ailing apparel brands, with the industry anticipating a third one following suit in the next month. Are we facing a change of paradigm in the apparel industry? The...
17 Aug 2020
Lucky Brand has been bought by Sparc Group, joint partnership of Simon Property Group and Authentic Brands Group. The denim brand had been searching for a buyer since it filed for bankruptcy last month. Sparc is paying a sum of 140.1 million dollars in cash for Lucky Brand, and will acquire rights to sourcing, product design and development and...
14 Aug 2020
Authentic Brands Group, Simon Property Group and Brookfield Property Group have confirmed acquisition of Forever 21. ABG and Simon will each own 37.5 percent of the retailer's intellectual property and operating businesses. , while Brookfield will own 25 percent. “Forever 21 is a powerful retail brand with incredible consumer reach and a wealth...
19 Feb 2020
New York - Simon Property Group, the biggest mall owner in the U.S., said on July, 31 it is considering retail investment as it looks to keep stores afloat. They have already rescued ailing teen apparel brand Aeropostale. As reported by CNBC, Simon CEO David Simon said on a post-earnings conference call that “I think it’s very possible — we’re...
2 Aug 2019
