NEW YORK — Cushman & Wakefield and Envirosell said Friday they have formed a partnership intended to create a comprehensive menu of services for retail and real estate clients.
Envirosell will draw on Cushman's research and consulting capabilities, and Cushman's Retail Consulting group will tap Envirosell's real estate and shopping behavior analysis, which includes point-of-sale issues relating to layout, merchandising, human traffic flow and operations.
"We have the ability to see what's happening on the sales floor itself," said Paco Underhill, founder, chief executive officer and president of Envirosell. "We can see whether it's flawed, whether it's fixable or whether it's terminal."
Envirosell was missing the ability to analyze a merchant's real estate holdings, Underhill said. "If I'm Eddie Lampert [chairman of Sears Holdings], I'm looking at all the buildings and land" occupied by Sears and Kmart. "If I'm Blockbuster looking at Circuit City, there are certain aspects of Circuit City's real estate portfolio that are very unique."
Matt Winn, managing director of Cushman's Retail Consulting group, said the partnership is well timed. With economic conditions showing no sign of improving soon, retailers are eager to better understand consumer behavior and develop strategies for maximizing sales.
"We have meetings with mall owners who want to reposition their holdings that aren't doing that well," Winn said. "We can look at the data, demographics, tenant mix and rent structure. We can also work with Paco and his team and look at the physical improvements — for example, what's the layout of the mall and are there nontraditional uses for the space?"
Underhill believes the anchor concept has to be rethought. "The model of the North American shopping mall that started in the Eighties, where we looked at department stores as traffic drivers, is one a lot of people legitimately question in 2008," he said. "We're asking ourselves what department stores can do to better use the real estate they have and maximize their profits other than discounting."
Winn said vendors are becoming disillusioned with department stores. "I was with a manufacturer yesterday and they were talking about pulling out of every department store in the U.S. and opening their own stores," he said. "They wanted full control over their brand image."
Breaking News: @louisvuitton's men's artistic director @mrkimjones is leaving the French fashion house after nearly 7 years. Jones joined Louis Vuitton in 2011, following a three year tenure as creative director of British luxury goods brand Alfred Dunhill. Jones is to exit Louis Vuitton after showing his fall 2018 collection for the brand in Paris on Thursday. Read the full exclusive story on WWD.com. Link in bio. #wwdnews #wwdfashion
For men’s fall 2018, @giuseppezanotti drew on elements from streetwear, sport, biker, combat and rock ‘n’ roll. Pictured here are a pair of shoes from the collection, featuring zippers, rhinestones, and silver hardware. Head to WWD.com to see a roundup of the accessories from Milan’s men’s fall 2018 shows. #wwdfashion (📷: Andrea Delb)
To celebrate the 25th anniversary of @ralphlauren’s snowboarding collection, the brand is mining its archives. The iconic brand is reintroducing vintage styles and dropping new designs for a color capsule that will be available in Ralph Lauren stores and @openingceremony on January 25. The capsule will consist of 10 pieces, including the Snow Beach Pullover, pictured here, which is a collector’s item that rapper Raekwon wore in Wu-Tang Clan’s “Can It Be All So Simple” video. #wwdfashion (📷: Tom Gould)
For @rochasofficial’s pre-fall 2018 collection, creative director Alessandro Dell’Acqua channeled the sophisticated and intriguing Catherine Denevue in the film “Belle de Jour.” Polished collarless coats, midi skirts, suits and ’60s graphic motifs were all featured in the collection, adding a sense of discreet luxury. See the rest of the photos on WWD.com #wwdfashion
“We tried to produce clothing of that couture quality, but the most daunting part was that we only had a matter of days [to do it],” said costume designer Lou Eyrich, who recreated Gianni Versace’s iconic looks for @americancrimestoryfx. Eyrich searched online retailers and vintage shops for original pieces from the design house and for @penelopecruzoficial, who plays Donatella Versace. Head to WWD.com to read how she created the Versace world. #wwdfashion
Only three months after her stellar debut catwalk season, @kaiagerber has inked her first big design collaboration –– with @karllagerfeld. The collection blends Lagerfeld’s Parisian chic aesthetic and the model’s signature West Coast casual style via RTW, accessories, footwear and more. The #KarlLagerfeldxKaia collection will launch in September with a series of events. Get all the details on WWD.com. #wwdnews #wwdfashion
Harrods plans to remove the famous statue of Princess Diana and Dodi Al Fayed from the bottom of the Egyptian escalators and hand it back to Mohamed Al-Fayed. “We are very proud to have played our role in celebrating the lives of Diana, Princess of Wales and Dodi Al Fayed at Harrods and to have welcomed people from around the world to visit the memorial for the past 20 years,” said Michael Ward, Harrods managing director. “With the announcement of the new official memorial statue to Diana, Princess of Wales at Kensington Palace, we feel that the time is right to return this memorial to Mr. Al Fayed and for the public to be invited to pay their respects at the palace.” More on the news, with reporting by @loreleimarfil, at WWD.com. #wwdnews