Shopping Centers Today

DEC 2018

Shopping Centers Today is the news magazine of the International Council of Shopping Centers (ICSC)

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52 S C T / D E C E M B E R 2 0 1 8 Parker. At CF Toronto Eaton Centre, digitally native Frank And Oak now sells its men's and women's apparel in a second-level space next to Victoria's Secret. That short-term store, which opened in August, yields Frank And Oak some useful information about how to approach expansion, Iacono says. (Montréal-based Frank And Oak operates six other stores across the Cadillac Fairview portfolio.) "A temporary lease allows them to test what size store they might want to commit to for a longer haul in a prop- erty like Eaton Centre," Iacono said. For Cadillac Fairview, meanwhile, such short-term arrangements can yield center-specific insights into the sales and traffic potential of various retailers. This is part of the thinking behind the firm's CF Collective incu- bation program, in which new con- cepts take space as limited-run pop- ups. "Our business model is to ensure that we have the best and most suc- cessful retailers," Iacono said. "We're trying to incubate the next Aritzia — the next successful Canadian retailer — wherever we can." Digitally native retailers tend to be highly selective when moving from the Internet to the real world, Iacono notes. By making massive reinvest- ments in its best malls, Cadillac Fairview has bolstered its position in the race for expanding clicks-to-bricks and other tenants, he says. Casper opened at CF Sherway Gardens, in Toronto, in April, and Untuckit launched at Sherway in September. "We made an over $500 million invest- ment in Sherway to expand it and bring in Nordstrom and Saks," Iacono said. "We made an over $350 million investment in CF Rideau Centre, in Ottawa. Retailers need a place where they can fly their banner — their brand — and demonstrate who they are. When they can clearly establish that identity, it helps them make an emo- OPENING YEAR FOR NOTABLE CLICKS-TO-BRICKS PERMANENT STORES pre-2012 2012 2013 2014 2013 2016 2018 Source: JLL Research PIRCH (2009) Athleta (2011) BHLDN (2011) Trunk Club (2011) Warby Parker Peloton Sugarfina e.l.f. Cosmetics UNTUCKit BaubleBar Indochino Amazon Books Chubbies The RealReal MM.LaFleur Quay Australia ELOQUII Away Goop Allbirds Everlane Amazon Go Bonobos LXR & Co. Essentia Reformation Duluth Trading Company Outdoor Voices Zappos Paracute M.Gemi Glossier AYR Casper The Arrivals Rothy's Floyd MeUndies 2017 Zara started selling home decor online before launching a chain of Zara Home stores

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