shopping center industry

In Latin America, Mexico leads the shopping center industry along with Brazil and Colombia.
Velutini plans to enter next year in the Dominican Republic, where they will have partner with international singer Julio Iglesias for the opening of a shopping center.

"There are two segments of the market: Alta Gama, which are those looking for brands from 1,000 to 10,000 solar (currency in Dominican Republic), and the other segment is precisely the luxury segment, with a consumption of $ 200 to $ 2000.but the interesting thing is that the middle-class upper-class customer is the one who has a keen interest in shopping in the malls, "said Ralphy Bensadon, President of Bentrani Watches Miami and Cartier, Dominican Republic.

He added that luxury brands are sold in some stores along with the middle segment, so it is the format followed by "multi-brand stores" looking to market prestige brands. For example, Bentrani Watches Miami and Cartier will seek to expand in Latin America under that concept.

A reality of consumption for companies and entrepreneurs is the challenge before the need to understand the psychology of the consumer in a region diversified and with such great potential of growth.

"High-ranking brands are easy to place in malls that can handle this type of product," said Philippe Giraud, president of Altium LLC (Hermes), USA.

Carlos Manuel Miranda, Corporate Vice President Grupo Axo, Mexico went even further, saying that "success to reflect the DNA of the brand becomes a business unit so that it does not lose the essence of it." It should be mentioned that your company represents fine brands in Mexico.

The specialists explained that the markets of the shopping centers have not only been segmented into luxury brands, but have specialized. Before, there was neither space nor quality necessary to open luxury stores,here is Commercial Shops for Sale in gulberg Lahore. so representatives of these brands look for the ideal conditions to want to be in a mall and not open their own stores. Hence the main problem facing luxury brands is lack of space.

"The Salvatore Ferragamo brand grew 90% in the footwear market and is sold mainly in malls, and in some points of sale," Diego Stecchi, Executive Director Ferragamo Latin America Inc., USA added. to open 16 more stores in different cities of Latin America, although they continue exploring markets like Colombia.

"In the case of Hermes opening a store costs $ 2 million without counting the cost of operations," said Philippe Giraud, President of Altium LLC (Hermes). "The trust factor is important to represent brands and open stores in the luxury segment."

Other panelists involved Pablo Borelli, Development Director of Louis Vuitton, Argentina.

Commercial Shops for Sale in gulberg Lahore



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