Drove double digit increases in mall rents
Understanding how brands work together or play off each other is a key component to creating a collection that shoppers and retailers want to be a part of. At Lenox Square in Atlanta, Tisha Maley applied her merchandising artistry and relationships with luxury brands to transform the Neiman Marcus wing into a “must shop” destination for residents and global visitors.
Sometimes it takes a fresh perspective to reimagine a 50-year-old asset. At Lenox Square in 200X, the Neiman Marcus wing was quiet and grossly under utilized. The owner’s objective was to remerchandise it to increase sales and rent productivity. Tisha Maley focused her strategy on the strength and exclusivity of the wing’s long-time anchor tenant, Neiman Marcus, in order to carefully curate a collection of luxury that mirrored high street retail locations.
During her courting of luxury tenants, Maley paid special attention to brand alignment and placement of each store to maximize cross-shopping and enhance sales productivity for the brands. It was a very complex challenge that could only be solved by someone with deep knowledge of the luxury brand’s customer. Today, sales per square foot productivity has more than doubled and rents increased significantly. Maley created a coveted mall within a mall where retailers want to be and the landlord holds the waiting list.