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Shopping Centers Today -> June 2006
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HOT RETAILERS 2006
Who are the hottest tenants in the business? Landlords voted, choosing the retailers that garnered the most buzz for their shopping centers in 2005. Now meet the winners.
Who’s hot? That’s something we ask ICSC’s members each year in an organizationwide ballot. The companies they identified this year as the most innovative and interesting represented a wide range of tenants and were not confined to retailing, let alone to one retail sector. Indeed, it could be argued that one of them - Muttropolis, a gift shop for dogs and cats - does not cater primarily to people at all. Joining the founders of Muttropolis onstage at this year’s Hot Retailers Awards ceremony at ICSC’s annual Spring Convention in Las Vegas were Citi Trends, Justice Just for Girls, Massage Envy and Teavana.
This was the fourth annual Hot Retailers Awards event. The latest winners are now members of the distinguished pantheon of retailers that have been honored in years past. Those were American Eagle Outfitters, Apple, Build-A-Bear, Chico’s, Coach, H&M, Hollister, Hot Topic, P.F. Chang’s, Steve & Barry’s, Steve Madden, Trader Joe’s, Victoria’s Secret, White House Black Market and Williams Sonoma.
Citi Trends
Savannah, Ga.No. of stores: 250
No. of stores to open this year: 42-45
Preferred locations: Open-air centers, freestanding stores, some malls, and venues within three miles that serve predominantly black populations of at least 25,000
Leasing contact: Koyt Everhart, vice president of real estate, (912) 443-4910, keverhart@cititrends.com
Citi Trends’ success rests on its “out-discounting” the discounters - while offering the latest fashions, no less. This family apparel, accessories and home decor chain caters to a population few major competitors court: blacks and ethnic minorities in cities and densely populated suburbs. Its stores are located in the Southeast, the mid-Atlantic and Texas.
The chain started out as Savannah Wholesaler, supplying stores with primarily women’s hosiery and undergarments. The first store opened in 1958, and several more followed, under the name Allied Department Stores. The concept foundered, and a new management took over in 1997, renaming the business Allied Fashion for Less. Following a management buyout, the company boosted its store size and changed its name yet again to Citi Trends Fashion for Less, and then simply to Citi Trends. The chain went public last year.
Justice Just for Girls
Columbus, OhioNo. of stores: 108
No. of stores to open this year: 65-75
Preferred locations: Power centers and lifestyle centers
Leasing contact: Alan Hochman, senior vice president of real estate and store planning, Too, (614) 775-3500
Apparel retailer Too launched Justice Just for Girls in January 2004, and the company predicts the new concept will eventually outnumber its 555-store Limited Too brand. The company still operates only 108 stores but plans a rollout of about 70 stores this year. Justice sells tops, dresses, pants and accessories for girls 7 to 14 and merchandise for their rooms in bright, colorful settings. Limited Too serves the same age group but sticks to malls, whereas Justice goes for power centers. Moreover, merchandise at Justice stores are as much as 30 percent cheaper than that of Limited Too. Now that’s justice.
Muttropolis
Solana Beach, CalifNo. of stores: Four
No. of stores to open this year: About 10
Preferred locations: Upscale open-air and enclosed centers and Main Street sites with upscale lifestyle co-tenants.
Leasing contact: Amber Degnan, COO, (858) 245-0108
Why should humans have all the fun? These 2,000-square-foot pet boutiques offer exclusive pet accessories, supplies and home furnishings as well as “canine couture” apparel and luxury bedding. The chain also sells all-natural dietary supplements and treats. The first store opened in Solana Beach in 2002. The presentation is upscale, with colorful graphics and glass floors to brighten the atmosphere. Dog collars can cost as much as $95, and one luxury bed is selling for $999. And there’s nothing wrong with that, says co-founder Janet McCulley. “The pet is a bona fide member of the family.”
Massage Envy
Scottsdale, Ariz.No. of stores: 108
No. of stores to open this year: 150
Preferred locations: Open-air centers, and sites near restaurants and supermarkets
Leasing contact: Ilaria A. Giansanti, director of real estate development, (480) 366-4130
A little self-indulgence shouldn’t have to cost an arm and a leg, says John Leonesio, CEO and co-founder of Massage Envy. And at his chain, it does not. Massage Envy, established in 2002, is dedicated to bringing the spa experience to the masses. Like gyms, the chain offers monthly memberships, which cost from $49 to $59. Clients call up and can get a massage at a moment’s notice, and at a convenient location. “The concept is that a member could be in the parking lot calling in on their cell phone and still get an appointment,” said Leonesio. The fee includes the month’s first massage, with each additional session costing $39.
Teavana
AtlantaNo. of stores: 41
No. of stores to open this year: 30-40
Preferred locations: Mainly malls, but entering open-air centers, and urban storefronts.
Leasing contact: Robert Shapiro, vice president of real estate, (404) 995-8213
Sophisticated shops selling all things tea, including teapots, kettles, tea sets, strainers and, of course, tons of tea - black tea, green tea, white tea, herb tea, decaffeinated tea and more. It all started with a single tea shop in Atlanta in 1997. Simon Property Group offered Teavana a short-term lease in its Phipps Plaza, Atlanta, in 1998, and the following year in its Lenox Square center, across the street from Phipps. Now the kettle’s really boiling - Teavana expects to double its store base this year.
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