Simon® and Leap Team Up to Bring Digitally Native Brands to Bricks-and-Mortar

Rhea-AI Summary

Simon announces a partnership with Leap to open multiple retail stores at Simon properties, targeting digitally native brands' expansion into brick-and-mortar retail. Four stores are set to launch in California and Florida, including True Classic Tees and ThirdLove. This collaboration aims to enhance omni-channel retailing, enabling brands to reach millions of consumers annually. Simon operates over 250 retail destinations globally, while Leap powers 60 brands across nearly 100 stores.

Positive

• Expansion of physical stores for digitally native brands enhances sales potential.
• Strategic collaboration with Leap streamlines brand introduction to brick-and-mortar settings.
• Simon operates over 250 retail destinations, providing a strong platform for brand visibility.

Negative

• None.

INDIANAPOLIS, Nov. 16, 2022 /PRNewswire/ -- Simon^® is pleased to announce that Leap, the retail platform for modern brands will open multiple stores at Simon properties. Both Simon and Leap are passionate about helping brands, many of them digitally native, strategically expand as omni-channel retailers. To start, Simon and Leap are planning to open four stores between California and Florida: True Classic Tees in Los Angeles' Del Amo Fashion Center^® and ThirdLove, Sugarfina and Goodlife in Florida's Town Center at Boca Raton^®.

"We are excited to work with Leap to help introduce growing brands to the value of brick-and-mortar retail. This is a pivotal time where stores are top of mind with nearly every brand growing in the U.S., and with the speed and nimbleness of the LEAP model, the expansion process has been streamlined immensely. It is our hope that by working together we will continue to both incubate brands through the LEAP platform as well as help them expand throughout our portfolio where they can reach hundreds of millions of their target consumers annually," said Zachary Beloff, Vice President of Leasing at Simon.

"We're thrilled to be expanding our footprint with Simon. The team invested in our Series B raise, and now, we're pooling our competitive advantages and data-driven approach to deploy the next generation of brands in prime shopping centers across the country. This collaboration, in addition to opening physical stores, is also enabling brands to rapidly build and scale an omni-channel retail presence," said Amish Tolia, Co-Founder and Co-CEO at Leap.

Simon & Leap bring years of experience to the table to help brands select top, data-driven locations for their business. This level of expertise and collaboration is both unprecedented and invaluable, as retailers recognize the need to be omni-channel and look to open brick-and-mortar locations around the country.

"Our retail expansion wouldn't be possible without the Leap platform, so the fact that Leap is working with Simon makes us even more excited for the future of our brand," said Andrew Codispoti, Co-CEO at Goodlife.

Today, Simon operates or has an ownership interest in more than 250 premier retail destinations around the world and Leap is powering 60 brands across nearly 100 stores.

About Simon: 
Simon® is a real estate investment trust engaged in the ownership of premier shopping, dining, entertainment and mixed- use destinations and an S&P 100 company (Simon Property Group, NYSE: SPG). Our properties across North America, Europe and Asia provide community gathering places for millions of people every day and generate billions in annual sales.

About Leap:
Leap is building the world's largest network of branded retail stores – powered by data, technology, and scale. Leap's platform enables brands to deploy stores that work in concert with ecommerce more rapidly and at significantly reduced cost and risk. Brand stores powered by Leap bring modern brands to life with compelling, immersive customer experience and operations driven and informed by millions of data points. Learn more about Leap's platform, and brand stores powered by Leap, at http://leapinc.com.

 

 

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SOURCE Simon

FAQ

What is Simon's partnership with Leap about?

Simon has partnered with Leap to open multiple retail stores for digitally native brands, enhancing their brick-and-mortar presence.

How many stores will Simon and Leap open?

Simon and Leap plan to open four stores in California and Florida.

What brands are included in Simon and Leap's store openings?

The initial stores include True Classic Tees, ThirdLove, Sugarfina, and Goodlife.

What is the significance of Simon's store openings for SPG shareholders?

The openings aim to increase sales potential and brand visibility, positively impacting the value of SPG.

When was the partnership between Simon and Leap announced?

The partnership was announced on November 16, 2022.