Shopping Centers Today is the news magazine of the International Council of Shopping Centers (ICSC)
Issue link: https://sct.epubxp.com/i/528948
J u L Y 2 0 1 5 / S C T 7 LuXuRY LEADERS Big ticket for traffic Dubai's malls are expected to spend some Dh5.5 mil- lion ($1.5 million) this year on contests, promotions and giveaways aimed at boosting foot traffic. Prize giveaways range from cars to tuition fees of up to Dh50,000 for 10 school- children. Called "The Sum- mer Campaign 2015," the program includes 25 area malls with promotions that are off to an early start and will run until October. Whole Foods targets Millennials Whole Foods is launch- ing a new value-focused concept called 365 by Whole Foods Market. The concept is aimed at Millennial customers, or those who reached young adulthood around the year 2000. Slated to begin opening in 2016, the new stores will offer convenience and every- day low prices on natural and organic products. "This concept will deliver a convenient, transpar- ent and values-oriented experience," said co CEO Walter Robb. Jeff Turnas, a 20-year Whole Foods Market vet- eran, will serve as president of 365 by Whole Foods Market and will be based at the company's headquar- ters in Austin. Turnas has held various leadership positions on both the product and operations fronts, including president of the company's North Atlantic Region, and most recently as president of its U.K. Region. "We are excited to introduce 365 by Whole Foods Market to bring healthy foods to even more communities with a fresh, quality-meets-value shopping experience that's fun and convenient," Tur- nas said in a press release. "A modern, streamlined design with innovative tech- nology and a carefully cu- rated product mix will offer an efficient and rewarding way to grocery shop." Whole Foods, which operates 417 stores and has 113 more under de- velopment, posted record sales in its second quarter (ended April 12). More chains go off-price Department store chains Kohl's and Macy's Inc. are entering the off-price retail arena. Macy's plans to open six pilot Macy's Backstage stores this fall in the New York City metro area. The four off-price stores will average about 30,000 square feet and offer wom- en's, men's and children's apparel, shoes, fashion accessories, housewares, home textiles, intimate ap- parel and jewelry. Merchan- dise will include clearance goods from Macy's stores. "We can deliver a whole new level of value to customers who appre- ciate fashion and love to hunt for a bargain," said Peter Sachse, Macy's chief innovation and business development officer. Kohl's is testing its own off-price format called Off Aisle by Kohl's, with a unit that opened in June, in Cherry Hill, N.J. The store will stock deeply discounted, like- new merchandise that had previously been returned to Kohl's stores and Kohls.com. '' We can deliver a whole new level of value to customers who appreciate fashion and love to hunt for a bargain. '' — Peter Sachse Macy's Inc. Louis Vuitton is the world's most valuable luxury brand, valued at some $24.7 billion, according to research group Millward Brown. To calculate a brand's value, the firm ex- amined current and potential earnings and such qualitative factors as distinctiveness. Be- low are the top five for 2015: 1. Louis Vuitton — $24.7 billion 2. Hermès — $19 billion 3. Gucci — $13 billion 4. Chanel — $9 billion 5. Rolex — $8.5 billion