Simon Property Group news and archive

Eddie Bauer store operator reportedly set to file for bankruptcy, affecting 200 stores in US

Eddie Bauer is said to be preparing to file for bankruptcy and shut down its 200 North American stores, according to sources at WWD. The outdoor brand’s store operations are owned by Catalyst Brands under license from brand owner Authentic Brands Group, which would indicate that the broader Catalyst Brands business would not be affected. The...

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Simon Property Group promotes Eli Simon to COO

The Simon Property Group, a real estate investment trust that owns premier shopping, dining, entertainment, and mixed-use destinations across North America, Europe, and Asia, has promoted Eli Simon to chief operating officer. Eli Simon will work directly with David Simon, chairman, chief executive officer and president, on all aspects of Simon's...

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Business

Plans to convert retail space into logistics centres struggle to take off

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,...

Retail

Simon Property's see 25 percent revenue loss

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...

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Business|ANALYSIS

Change of paradigm? Property groups and multi-brand conglomerate join forces to save apparel retail

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...

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Business

Simon Property Group, Authentic Brands Group acquire Lucky Brand

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...

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Business

Forever 21 was officially acquired by Authentic Brands Group & Simon

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...

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Business

Could the US’ biggest mall owner be the saviour of apparel retailers?

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...