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."
@juicebeauty, where @gwynethpaltrow holds the title of creative director of makeup, has become one of the foremost labels in the organic beauty category –– with sales on track to hit $100 million this year. What’s behind the rapid growth the brand is experiencing right now? It all started in 2005 when the wellness movement was just getting started. Read more on WWD.com. #wwdbeauty
Stay up to do date with breaking news and trending stories with WWD’s “The Essentialist.” Our newsletter delivers the top news in fashion right to your inbox. Want more info? Link in bio. #wwdfashion (📷: @kukukuba)
"I want to tell a story that inspires people to feel good about themselves, but also I'm making a commentary about the lack of female stories and female directors and saying this should change," said @imheathergraham on her latest project "Half Magic." The comedy feature, which the actress wrote and directed, is based on her own struggles as a woman in show business. Read @andrewnodell's full interview with Graham on WWD.com. #wwdeye (📷: @jgreenery)
@meltcosmetics cofounders @lora_arellano and @danabomar built their brand on a single idea: a true matte lipstick. To set the brand apart, they said they always put their customers first –– including a personalized note in each package. #wwdsummits #wwdbeauty
@moncler unveiled its latest project, #MonclerGenius, yesterday at Milan Fashion Week. The Italian outwear maker gave show-goers a preview of the monthly collections – which were created by eight designers and creative talents including Pierpaolo Piccioli, Simone Rocha, Craig Green and more – that will start rolling out in the summer.