Luxury retailer Louis Vuitton to open first Indianapolis store
Louis Vuitton is ranked as the world’s most valuable luxury brand, with a value of $47.2 billion, topping Chanel, Hermes, Gucci, Rolex and others.
Simon Property Group
-
Simon Property misses Wall Street expectations as profit sinks
The Indianapolis-based shopping mall operator said all of its U.S. properties have reopened, with the exception of a handful in California that were forced to close for a second time on July 15 because of government mandates.
Read More -
Simon Property-backed venture makes offer to buy Brooks Brothers
Under the terms of the agreement, the Simon-back venture intends to purchase substantially all of the iconic retailer’s global business operations as a going concern. It has committed to acquiring at least 125 Brooks Brothers retail locations.
Read More -
Coworking chain taking over former restaurant space in Circle Centre
The lease will be COhatch’s second with Circle Centre landlord Simon Property Group. The firm previously announced plans to open a coworking space at Simon’s Hamilton Town Center in Noblesville.
Read More -
Retail real estate scions to battle in court–again
David Simon and Bobby Taubman are battling now in court over whether Simon Property Group is obligated to complete the $3.6 billion purchase of Michigan-based Taubman Centers that it announced in February.
Read More
Articles
Simon Property Group diving into retail ownership
Simon is veering into retailer ownership in a substantial way, emboldened by its successful partnership with two other firms to buy the teen-oriented mall chain Aeropostale out of bankruptcy court in 2016.
Microsoft store at Fashion Mall closing as part of broad strategy shift
Microsoft is dramatically shrinking its in-person retail business and will permanently close all but four of its brick-and-mortar locations, after its attempts to replicate Apple’s success with storefronts failed to get traction.
Simon sues tenant Brooks Brothers, seeks $8.7M in unpaid rent
The suit, filed Wednesday in Marion County Superior Court, says the retailer failed to pay rent for April, May and June while closed during the pandemic.
Rival Taubman says Simon has buyer’s remorse on mall merger
Taubman Centers said in a filing alleging illegal termination that rival mall landlord Simon Property Group knowingly assumed the risks of the pandemic at the time their $3.6 billion merger deal was announced.
Simon Property, Brookfield, Authentic Brands in talks to buy J.C. Penney
Authentic and Simon Property Group also are in discussions with Brooks Brothers Inc. on a joint bid that would be part of a potential bankruptcy filing by that clothing retailer.
Taubman says Simon doesn’t have legal right to abort $3.6B purchase
Signaling a legal brawl lies ahead, Taubman said Simon “continues to be bound to the transaction in all respects.”
Simon Property calls off $3.6B deal to acquire rival Taubman Centers
Simon shares fell nearly 6% in early trading Wednesday, to $81.71 each. Taubman shares plummeted nearly 30% after the announcement, to $31.94 each.
Simon Property Group sues Gap Inc. over $65.9M in unpaid rent
Gap Inc. has more than 390 stores at Indianapolis-based Simon’s malls, including its namesake brand, Old Navy and Banana Republic.
Simon shares rally after firm lays out reopening plans, pledges to pay a dividend
CEO David Simon said the company is continuing to work closely with its tenants but declined to discuss how it is assisting those that have faced financial strains from limited or diminished operations.
Return of retail in Indy area far from business as usual
A smattering of shoppers found a mixed bag of offerings on the first day that nonessential stores were allowed to open, with many retailers remaining closed or still providing pickup-only service.
Simon says it won’t defy state-at-home orders in reopening malls, calls speculation it might ‘very offensive’
A company official said it’s “preposterous” to think the company would reopen its malls, especially those in its home state, while stay-at-home orders are still in place.
Simon poised to reopen Indiana malls on Saturday
The 49 Simon Property Group shopping centers that CNBC says are slated to reopen by Monday represent about one-quarter of the company’s U.S. properties.
Gamers may have a cure for distressed American shopping malls
With store vacancies at an eight-year high, retail landlords see the potential of gamers someday pouring out of their basements and into their shopping meccas as a kind of lifeline.
Tumult might lead Hoosier firms to put dividends on chopping block
Firms across the country from a broad range of industries will be taking a hard look at their dividends in the coming weeks, as the pandemic forces businesses to focus on conserving cash.
Mall giant Simon chops corporate staff as COVID-19 wreaks havoc
The company is cutting more than 100 employees and furloughing others as it weathers the temporary shutdown of much of the retail industry.
Herb and David Simon make $19M bet on Simon Property’s deflated stock
Since the start of 2020, Simon shares have lost 67.7% of their value—chopping $31 billion off the company’s market capitalization.
Companies are seeking to reduce their environmental impacts and increase sustainability
Increasingly, as the planet warms, pressure is building from environmentalists, investors, consumers and the general public for corporate America to do something about it.
Simon, other new Forever 21 owners in talks to keep most U.S. stores open
Authentic Brands Group, Simon Property Group Inc. and Brookfield Property Partners LP have finalized their $81 million acquisition of the struggling retailer, they announced Wednesday.
Simon agrees to buy rival Taubman Centers for $3.6 billion
The deal sends a resounding message that Simon remains a devout believer in retail real estate, even as the rise of e-commerce has knocked the sector out of favor across the globe.