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Retail

STRATEGIES AND EXPANSION PLANS OF RETAILERS

The men’s fashion chain Wormland operates twelve stores throughout Germany and employs around 400 people. The process is due to be completed in summer 2024.

Redevco has appointed Sasha Silver as Head of Global Client Group, where she will be responsible for the company’s client relations and capital raising. Silver will join Redevco’s executive management team and strengthen its focus on expanding the company’s client offering and strategic relationships.

Mango announced its expansion plans, changes to the company’s management, but also an increase in sales of 12 percent compared to 2022 to more than three billion euros.

Puig has announced the acquisition of a majority stake in the German molecular cosmetics brand Dr. Barbara Sturm. Founder Dr. Barbara Sturm will retain a minority stake and continue to hold the position of Chief Product Development Officer.

The Group’s investment volume in the new 2024 financial year is over 65 million euros more than in the previous year at 390 million euros. The investments will be made in around 253 new stores, 75 of them in Germany.

Trei Real Estate GmbH (“Trei”) just opened the 38th retail park of its Vendo Park brand in Poland. The property is located in Konin, a town of around 80,000 residents in the Greater Poland voivodeship. The new Vendo Park has a lettable area of around 5,400 sq m, with units let to Aldi, Rossmann, Pepco, Dealz, Kakadu, Sinsay and Piekarnia Grochola. On the whole, Trei invested about 6.4 million euros in the property.

In the heart of Riga, a revolution in retail festivity is unfolding. Spice Riga, a leading shopping center, is transforming into a breathtaking Christmas paradise, thanks to a groundbreaking collaboration with MK Illumination. This bespoke project, planned for 2023–2025, is not just a decoration initiative, but a reimagination of the shopping experience during the most wonderful time of the year.

MEC will continue to be responsible for the management of six retail locations in the KGAL Investment Management portfolio. In addition, the management of two further locations will be transferred to MEC. The two companies have now signed an agreement to continue and expand their existing partnership. With the management package transferred to MEC, the Düsseldorf-based retail real estate specialist operates over 130,000 sq m of lettable retail space for KGAL.