Whether it's a merger, an acquisition or just plain transformation into another business entity, retailers today are branching out into areas up to now unimagined by the business community. One such area are plans for expansion that present unique opportunities for the New York-based Westfield Corporation.
The Wind of Change Is Blowing
The Westfield mega mall conglomerate already owns over 35 retail malls in the U.S., the U.K. and in Italy. However, an out-of-the-box mindset blew into the Westfield corporation recently as they hired Tony-Award winning Scott Sanders to help explore and manage diverse entertainment and amusement platforms to enhance the existent shopping environment.
Scott Sanders Theatrical Productions, that produced the musical stage
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Westfield offices agree with his vision to not only have entertainment combined with retailing, as such, but specialty restaurants, TV production and viewing, dance productions and vast Internet facilities as well. In addition, his vision incorporates all the above plus utilizing vacant mall space for late evening and late weekend hours when shopping tends to slow down.
Under the Westfield corporate banner, Sanders continues with the development and production of Broadway-bound plays including "Tootsie," "Coal Miner's Daughter" and "Up Here." Moreover, a motion picture adaptation of Lin-Manuel Miranda’s "In the Heights" is already in the works.
The combining of mall shopping experiences and the theatrical touch provides a promising expectation of success. While this is not the first time such an experience has been attempted in malls, it is the first on such a grand scale with so many high caliber theatrical professionals involved. As of 2014, The Westfield Group, out of Australia and New Zealand, separated from its international holdings and in effect created The Westfield Corporation that focuses on its international
Human needs in the past have been satisfied by marketplaces that are community driven. It is then he claims, that the lack of communal intention that makes the Mall of America, and other malls unhealthy and unnatural. Guterson writes that malls void of community, are not marketplaces, but are rather attractions set on profit. The marketing behind the Mall of America is aimed at growing tourism, and making the mall a symbol of America and American culture. This gimmick has proved to be successful as over 700,000 people from foreign countries visit the mall every year (Guterson, 284). The attention the mall is receiving from the rest of the globe suggests that as Guterson writes, “The concept of shopping in a frivolous atmosphere, concocted to loosen consumers’ wallets, is poised to proliferate globally” (Guterson, 284). As American malls continue to be lucrative, the science of controlling shoppers will only become more present around the world. Guterson claims that the fantasy environments that malls create are so powerful that they can inspire addiction to the excitability and pleasures that malls create (Guterson, 284). Guterson warns against the future of megamalls, pointing out the emptiness that they can create inside us. After standing on the roof of the Mall of America, Guterson understands that American culture is not the modern American mall. Rather, it is the fields and farms that
Just like before, malls are and will continue to be an entertaining shopping experience. As entertainment changes - so do the entertainment requirements in a mall or outdoor shopping area. Adding more and better forms of entertainment and updating them regularly can keep the shopping experience relevant, and keep shoppers coming back to see what’s new.
This presentation also aims to assist the various industry players in gaining an understanding of the industry perspective so that they are fully informed of the relevant issues in their consideration of the possible guidelines in shopping mall design.
“The shopping mall is the public marketplace of the wealthy industrialized societies. Malls are expensive to build and operate, and typically several gigantic chain department stores act as “anchors” for the mall. These department stores are connected by climate-controlled passageways lined with smaller stores offering everything from ice cream to speciality clothing to movie theaters.” (Plattner 1989, 173)
As specified in the weaknesses, Macy’s Department Stores Inc. has very little geographic presence in the countries where the growth ratio is much higher. Among the possible list of opportunities available to the company, the company can expand its business operations and portfolio in the emerging markets of Asia like China, India etc. these markets represents the great potential of success and profitability to the large numbers of companies. Business expansion can also be done by having strategic alliance in the form of mergers with
Pointing and sprinting from store to store, bags in hand and wallet held tight. The sounds of screaming, laughing, and talking fill the space. Cash registers beaming and cards being swiped. There’s just no other place like this; a shopping mall. Today, buying clothes or items of interest is highly popular. All of one’s favorite stores feet away from each other, this ritual is composed of elements that might not seem very evident without looking close enough. At the International Plaza in beautiful Tampa Florida, I conducted observations and my own experiences as well to analysis this ritual as a cultural phenomenon. Through this research, we can understand the true meaning of a shopping mall.
Ever wonder what your favorite mall will look like if it was replaced by an empty lot? How would you feel? Approximately 60 years ago when shopping malls were first built, it was expected to be “the gleaming symbols of America’s future.” Shopping malls were created to lure customers from the city into the suburbs; thus allowing shopping be done under one roof.
Westfield Parramatta is a shopping centre with even more shops, eateries, and services such as, Bed Bath N' Table, Betts and Betts Kids, Bankwest, Baekry's King, Bag Gem Luggage, Atlantic Fish & Chips, BWS, Clarks, Coles, Connor, Dollar King, EB Games, Foot Locker, Fossil, IGA Express, Katies, Kmart Tyre & Auto, Le Wrap, McDonald's, Refuge Cafe, Samsung, Taj Indian, The Coffee Emporium, Witchery, Woolworth's Metro, and other shops and services.
I walk into the mall, and barely contain my excitement as I march directly over to my favorite store. Hot Topic. I look around and see absolute heaven. My favorite song begins to play on the radio; there is dyed hair and band tees every which way. Where do I begin? Hi, I’m Chloe Pelshaw, a student in the 8th grade at Silver Hills Middle School. Over the years more people have discovered this astounding store. Although, with these new customers comes two new problems. Space and organization. Ways you could improve these issues are expanding your stores and making the products more organized.
With the economic downturn, businesses are suffering greatly and closing rapidly; because of this it is important to figure out ways to reduce these closings and help companies prosper. One business type that has seen drastic closings is the strip mall. While research suggests that location, façade design, greenery, anchor stores, store offerings and other attractions pull in much more foot
I believe though that malls have more downsides for our company. Being in mall there are rules to follow. With renting property inside a mall, there tend be alot of rules that have to be followed. We have to match their hours and there isn't much flexibility with it. Since it is an out of the way attraction, we could either not be getting the business that we want because people don't realize to come to a mall. People can't just drive by and see what we are. We don't have our own private parking lot, we share a space with an entire mall. That can be inconvienient for a lot of people. Some people just flat out don't like the mall and avoid it at all costs. Sometimes malls can jack the rent of places up without warning and to alot of businesses that can be almost
I’ve already arranged a meeting with them at around 12:00. I was thinking to order 300 pieces for now, as we’ve decided that we will change the brochure until the end of the year. In regards to the artwork, they’ve accepted to give it back to us. Please let me know whether you agree with a number of brochures. It really depends on the needs of our sales
Scentre Group (ASX:SCG) is the owner and operator of the Westfield malls in Australia and New Zealand. It is listed on the Australian Stock Exchange and was formed recently on 30th June 2014 through a merger of the Westfield Retail Trust and Westfield Group’s Australian and New Zealand management business. The Scentre Group is closely involved in the management of its portfolio, from construction to design, leasing and marketing of the malls.
Peter Lowry, the CEO of Westfield made a decision to stay at the firm after prodding from his father Frank Lowry and Co-CEO Stephen Lowry, who is also his brother and promising prospects. According to an excerpt published on the Jewish Business News on February 2015, Peter had initially announced that he will leave the firm following a restructuring move. The firm underwent a de-merger process that led to the creation a new separate entity called Scentre Group that has taken up the Australian and New Zealand malls.
Merger: Valuation Process and Evaluation of Financial Performance in case of United Insurance Company and Shama Plc By: Jemaneh Bayou January 2008 Advisor: Abebe Yitayew (Asst. Professor.) A PROJECT PAPER SUBMITTED TO THE SCHOOL OF GRADUATE STUDIES OF ADDIS ABABA UNIVERSITY IN PARTIAL FULFILLMENTS OF THE REQUIREMENTS FOR THE DEGREE OF MASTER OF SCIENCE IN ACCOUNTING AND FINANCE ADDIS ABABA UNIVERSITY SCHOOOL OF GRADUATE STUDIES Faculty of Business & Economics Department of Accounting & Finance Merger: Valuation Process and Evaluation of Financial Performance in case of United Insurance Company and Shama Plc