Simon Property launches online platform to drive sales at outlet stores

"Shop Premium Outlets" program is aimed at complementing mall giant's brick-and-mortar business

TRD NATIONAL /
Apr.April 01, 2019 11:22 AM

Simon Property Group CEO David Simon and 1650 Premium Outlet Boulevard (Credit: iStock and Premium Outlets)

Simon Property Group is launching an online shopping platform designed to drive sales to its nationwide network of outlet stores.

The Indianapolis-based shopping mall giant plans to debut Shop Premium Outlets this spring. It will feature 2,000 brands and more than 300,000 products discounted by up to 65 percent off retail, according to the Indianapolis Star.

Simon’s Chief Creative Officer Chidi Achara said the online effort would complement the real estate investment trust’s brick-and-mortar business.

“We identified a void for an online marketplace dedicated to outlet shopping, based on our research with consumers,” Achara told the Star. He said Simon’s established customer base will help it overcome the challenges and costs of launching an online shopping platform.

Indianapolis-based Simon owns 69 Premium Outlets across the United States. The online platform would feature brands including Saks Fifth Avenue OFF 5TH, Karl Lagerfeld Paris, Aéropostale and Cole Haan.

Even as mall landlords nationwide faced challenges including retail chain bankruptcies and the growing shift to e-commerce, Simon posted record numbers in the fourth quarter of 2018. It ended the year with net income of $2.4 billion, a 26.1 percent increase over 2017. Simon properties also ended 2018 with a 95.9 percent occupancy rate. [Indianapolis Star] — John O’Brien

 

Related Articles

arrow_forward_ios
1035-1065 N Orleans St (Credit: Google Maps)

Developers place bets on another downtown hotel

2537 North Pulaski Road in Logan Square (Credit: Google Maps)

‘Hipster’ concert venue will cause gentrification, Logan Square activists claim

Former NFL player Israel Idonije and 200 W. Madison St. (Credit: Getty Images, Google Maps)

Former Chicago Bear launches 1871-styled incubator with insane lease rates

Eddie Lampert and the two closing Sears locations at 5000 Spring Hill Mall (top) and 2200 W War Memorial Drive (Credit: Getty Images, Google Maps)

Where have all the Sears stores gone? Illinois is now down to a handful

Acadia Realty Trust CEO Kenneth Bernstein and 849 (right) and 912 W. Armitage Avenue in Chicago’s North Side (Credit: VHT Studios and ICSC)

Acadia Realty Trust is obsessed with this Chicago shopping corridor

Jeffrey Feil, 938 W. North Avenue (Credit: Getty Images and Google Maps)

Building with Lululemon’s new flagship store sells for $32M

Magnificent Mile on Michigan Avenue (Credit: iStock)

Retail is picking up in Chicago

Marijuana REIT has crafty legal strategy in Illinois, Rockford mayor favors $310M casino pitch: Daily digest

Marijuana REIT has crafty legal strategy in Illinois, Rockford mayor favors $310M casino pitch: Daily digest

arrow_forward_ios