Kurt Salmon acquires digital retail tech agency
Global management consultancy Kurt Salmon is acquiring digital retail technology agency Mobispoke LLC, the engine behind such technologies as smart fitting rooms, integrated mobile apps and other leading-edge, interactive shopping experience technologies.
Following the acquisition, Mobispoke will rebrand as Kurt Salmon Digital and will operate as a wholly owned subsidiary of Kurt Salmon.
The acquisition evolved from a longstanding relationship during which Kurt Salmon and Mobispoke have provided such leading national retailers as Bloomingdale’s, Dick’s Sporting Goods and Puma to integrate and personalize consumers’ physical and digital customer experiences across the Web, mobile, social channels, and brick-and-mortar locations.
“Bringing Mobispoke’s cutting-edge digital capabilities in-house under the Kurt Salmon brand continues our drive to help clients best implement the innovative technologies that are the future of omnichannel retail,” said Brooks Kitchel, managing partner for North America and the Global Retail and Consumer Group at Kurt Salmon. “This strategic acquisition opens up some really exciting avenues to push the envelope and develop new technologies and transformative strategies that will help us secure success for what’s next for our clients.”
Tanger closes on sale of five centers
Tanger Factory Outlet Centers has closed on the sale of five non-core outlet centers for a total cash sales price of $150.7 million.
The five properties sold are located in Barstow, California; Kittery, Maine (two properties); Tuscola, Illinois; and West Branch, Michigan.
“These centers have an average age of approximately 24 years, compared to our remaining portfolio average of 16 years. Because of the potential upcoming capital expenditures necessary to enhance these centers, as well as changes within each market, we no longer felt these assets could produce the growth in long-term internal cash flow and tenant sales that we are expecting within our core portfolio. While the Barstow center is performing at a very high level today, it was an outlier in our portfolio given its relatively small size and exceptionally high reliance on foreign tourism," said Steven B. Tanger, president and CEO.
Tanger Factory Outlet Centers is a publicly traded REIT headquartered in Greensboro, North Carolina, that presently operates and owns, or has an ownership interest in, a portfolio of 42 upscale outlet shopping centers in 21 states coast to coast and in Canada, totaling approximately 14.1 million square feet leased to over 3,000 stores.
It’s official: POPAI, A.R.E are one
A.R.E. (Association for Retail Environments) and POPAI (Point of Purchase Advertising International) have merged. The new association, which will be renamed in the coming months, creates one industry association representing all of the companies that provide end –‐to –‐end products and services for retail store environments and customer experiences.
A.R.E. is the leading North American association for suppliers to the retail environments industry with more than 750 member companies. POPAI, with more than 1,400 member companies in 45 countries, is the largest global association for the retail industry.
“By combining our memberships, we are creating a global association that will be positioned as the industry leader in retail environments and customer experience,” said COO Todd Dittman.
The new association will be headquartered in Chicago and retain offices in both Chicago and Hollywood, Florida.