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Malls simply evolving, not dying



The CEO of General Growth Properties, Sandeep Mathrani is a retail veteran. He has seen the rise and fall and again the rise of many malls and stores, including Riverchase Galleria.
The sales and occupancy of the mall dropped to an all-time low when the recession hit, but that did not stop GGP from investing millions of dollars in remodeling the largest indoor mall in the state.

The sales have once again reached pre-recession figures and the occupancy is at 96%. However, Mathrani still finds that he has to try and convince alarmists that the retail arena is thriving.

He said that the death of the shopping mall has been discussed for ages. When it was up against the Home Shopping Network and the catalogue, it was classified as dead. When it came up against the power centres with specialty retail, the same was said. However, the mall has remained.

Aside from the dollar investment by GGP, they also thought about aesthetics.

Sandeep Mathrani stated that the internet will continue to be a challenge to the brick building, but it is not being viewed as the chief competitor. He expects the two to merge as they evolve further. 


TODAY, Italy:
The new store is located in the San Marco neighborhood at Corso Garibaldi, 20.
TODAY, USA:
The restaurant industry is facing severe staffing shortages amid a mass return of diners after quarantine.
YESTERDAY, USA:
For the first time, Brand Dior appeared in the Lyst Index rankings and immediately took the third position.
DAY BEFORE YESTERDAY, Italy:
Fendi Casa is starting a new stage of life and hopes that the partnership with Italian Design Holding will strengthen the position of the luxury furniture brand in the world market.
DAY BEFORE YESTERDAY, Sweden:
The long-awaited scheme to buy back and resell used furniture is expected to reduce the number of items sent to landfills.
May 4, 2021, China:
According to the concept's authors, shopping malls don't have to be "bright, white, and shiny," according to the authors of the idea.
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