Shopping Centers Today

NOV 2014

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

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N o v e m b e r 2 0 1 4 / S C T 5 C E N T E R S T A G E Getting your Monet's worth K11 Art mAll treAts shoppers to the world's top Artists By Spencer Rumsey T he K11 ArT MAll, which opened last year on fashionable huaihai road, in Shanghai's up- scale huangpu District, is as serious about art as it is about retail. works of art are dis- played throughout the 300,000-square-foot mall, though the prime gallery space occupies the lowest basement level, where a recently concluded exhibit of 40 paintings by claude Monet was packed with viewers every day. An exhibition of Korean designers titled "Ticket to Seoul" is scheduled to run through the middle of this month, and next month will see a solo show by Gary Baseman, an American artist and illustrator known for his "pop surrealism." The mall, creation of Adrian cheng, execu- tive director of hong Kong–based New world Development co., is touted as a new kind of shopping environment that embodies cheng's core values of "art, people and nature." The mall occupies six levels of a 61-story skyscraper renamed K11 after its renovation in 2013. For its use of energy-saving technol- ogy such as natural light and recycling rain- water through the open courtyard's vertical hanging gardens for cooling, the project earned a leeD Gold certification. "it's a unique center," said eugene Tang, Jones lang laSalle's head of retail for Shanghai and eastern china, who praised the packaging, the marketing and the "clever use" of material and design. "within its small scale, they did a great job." high-end tenants include Balenciaga, Burb- erry, chloé, Dolce & Gabanna and Max Mara. "with the art space, you create a lifestyle space," Tang said. "You are not targeted to a particular range of customers; it's open for more variety. it's a good place to hang around." Tang cites The Urban harvest, the organic restaurant on the mall's upper floor, where pa- trons may choose from green vegetables grow- ing hydroponically in large planters within sight of their tables or take their pick of the mushrooms thriving in a nearby dark room. One drawback, says Shaun rein, managing director of china Market research Group, is that the mall reaches out to too many de- mographics. "There is a clash between their luxury brands and the restaurant section: One targets wealthy chinese, the other is directed at the middle class, so the shopping environ- ment is a mix of slipper-wearing families with screaming kids and hermès-toting elites." The problem is that the former tend to put off the latter, asserts rein, author of The End of Copy- cat China: The Rise of Creativity, Innovation, and Individualism in Asia. Another difficulty might be the mall's lo- cation. "it's not the only player on the block," said retail research analyst James roy, a cMr associate principal. he points out that the K11 Art Mall is located across the street from lai Sun Group's hong Kong Plaza, which has an Apple store and a Tiffany. Tang sees no problem. "i would rate [K11] as the best refurbished project in the past 24 months," he said. "i think they did a great job. This mall works in this particular space." cheng seems to think so. he says he is planning to open about a dozen art malls in china over the next five years. SCT C E N T E R S T A G E +1 646 728 3800 Fax: +1 732 694 1730 www.icsc.org Editor in Chief eDMUND MANDer +1 646 728 3487 E D I T O R I A L Managing Editor BrANNON BOSwell +1 646 728 3488 Copy Chief DAViD S. OrTiZ Copy Editor VAlerie DAViD Art Director JOhN D. lewiS Contributing Editors MichAel BAKer MArÍA BirD Pic" NicKY GODDiNG JOel GrOOVer MATT hUDGiNS BeTh KArliN NOellA PiO KiVlehAN BeTh MATTSON-TeiG reBeccA MeiSer iAN riTTer SPeNcer rUMSeY A D V E R AMie leiBOViTZ +1 773 360 1179 aleibovitz@icsc.org SUZANNe TANGUAY +1 646 728 3475 stanguay@icsc.org SAllY STePheNSON +1 847 835 1617 sstephenson@icsc.org Production Coordinator DAViD STAcKhOUSe +1 646 728 3482 dstackhouse@icsc.org I C S C O F F I C E R S Chair man rOBerT F. welANeTZ, crX, cSM President and CEO MichAel P. KercheVAl Vice Presidents ViNceNT A. cOrNO, crX KAreN FlAVelle MArTiN A. MAYer KeNNeTh A. M c iNT Yre Jr., crX MArK A. SchUrGiN JOhN A. STrAchAN Secretary-Treasurer DONAlD c. wOOD Publisher rUDOlPh e. MiliAN, crX, cMD, cSM For article reprints, call (866) 879-9144 or contact sales@fostereprints.com S H O P P I N G C E N T E R S T O D A Y SCT (ISSN 0885-9841) is pub lished monthly. VOLUME 35, ISSUE 11 © 2014, International Coun cil of Shop ping Cen ters, 1221 Avenue of the Americas, New York, NY 10020-1099; phone, +1 (646) 728 3800; fax, +1 732 694 1730. All rights reserved. Periodicals postage paid at New York, N.Y., and ad di tion al mailing offces. Sub scrip- tions $70 per year; Canada and other foreign $99. Single- copy price $20 (May issue $30). For subscription informa- tion call +1 727 784 2000. POST MAS TER: Send address changes to Shopping Cen ters Today, Sawida Worley, 1221 Avenue of the Americas, New York, NY 10020-1099. Publications mail agreement No. 41482022, return unde- liverable Canadian addresses to PO Box 503, RPO West Beaver Creek, Richmond Hill ON L4B 4R6. L A T E S T E x H I B I T : T O S E O u L

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