Shopping Centers Today International

FEB 2016

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

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is scheduled for completion this coming May. Jockey Plaza's strategy during the past decade to differentiate itself from other Lima malls has paid off, Landa says. "When we started to research Lima's market, a study revealed most malls were targeted openly to the entire family, with no differentiation among properties," she said. "Jockey Plaza's communication target is aimed at women that seek a world-class lifestyle and are the family's decision maker. Our success has been our ability to un- derstand the female shopper and satisfy her dreams by offering the brands she and her family want." Fifty-one percent of Jockey Plaza's estimated 24 million visitors annually are women. Landa says retail centers should operate as "communication media" and not merely real estate. Accord- ingly, Jockey Plaza publishes Revista J, a fashion and lifestyle magazine, and in 2014 also began operating Canal J, a TV channel. (The monthly magazine has been free of charge u n t i l n o w , b u t i t s p o p u l a r i t y i s prompting the mall's managers to begin charging for it.) "We now see our mall as a medium to com- municate with the client through retail square meters, the television channel or magazine," said Landa. "And we believe that's the future of our industry: to look at ways we can continue growing through alternate businesses." These media efforts and other nonleasing activities are prov- ing to be quite lucrative: Retailers pay for ads or to have their prod- ucts placed in the programs Canal J repeats around the clock. All this, along with mall advertising and park- ing fees, accounts for 14 percent of the mall's annual revenues. One of Jockey Plaza's anchors, the Falabella department store, lauds Landa. "She has done a great job of raising the leasing values with a more business-oriented focus and improv- ing the mall's positioning," said Juan Xavier Roca, president of Falabella Perú, whose store in Jockey Plaza is reportedly among the retailer's high- est sellers in the region. "She has also notably improved the tenant mix." Landa, who grew up in the 1970s in Peru, credits the many trips she took around the world with her par- ents for her exposure to modern re- tail. The first mall she ever saw was Miami's Dadeland Mall, when she was 6. Today, with her husband, Jorge Luis, this mother of 4-year-old twins continues to travel the world indulging her passion for other cul- tures. "Growing up, there was little opening to fashion and color — im- ports to Peru were very limited," she said. "When I started working in retail I kept asking myself: Why do we need to go abroad to visit a good mall if our country's economy is growing?" L a n d a s a y s s h e b e l i e v e s m o r e men are heading shopping centers in Latin America because of the in- dustry's roots in real estate, a male- dominated sector for years. "Shop- ping malls must be seen as a retail business, the liaison between the retailer and the shopper," she ob- served. "That's what adds value to the real estate. The keys to this busi- ness are knowledge of the consumer behavior, and centralized adminis- tration with the flexibility to con- tinue changing the tenant mix." Altas Cumbres says it hopes to break ground the year after next on an adjacent $500 million mixed-use project containing offices, a super- market, a gym and stores. The de- veloper has also announced inten- tions to build more malls in Peru and elsewhere in the region. "I had the pleasure of working with Yarina over eight years, a privileged witness of her professional growth and lead- ership," said Juan José Calle, former general manager of Jockey Plaza and now CEO of Lima-based ABL Part- ners, a retail real estate consulting firm. "She was a key component of Jockey Plaza's growth. Her drive and capacity will undoubtedly contrib- ute to maintain the leadership of Peru's main mall." SCT F e b r u a r y 2 0 1 6 / S C T 55 "When I started working in retail, I kept asking myself: Why do we need to go abroad to visit a good mall if our country's economy is growing?"

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