Swedish retailer taps Starcounter to power supply chain management application
Stockholm, Sweden — Starcounter announced that its high performance in-memory NoSQL database powers the supply chain management application utilized by Gekas, a superstore in Sweden visited by 4.5 million customers each year. With 100,000 different products in stock and all items in its warehouse sold out more than three times per week, Gekas uses the low-cost system from Heads, a real-time retail application vendor, to integrate and streamline its entire supply chain, from procurement and its central warehouse to customer sales.
“Big standard supply chain management solutions are too complex and expensive, and most other systems are focused on financials and bookkeeping. We wanted an ERP system that focuses on our critical business processes, and the Heads solution based on Starcounter’s NoSQL database fit the bill,” said Johan Armfelt, CIO of Gekas. “In addition to centralizing all of our retail items in real time, the solution lowers our maintenance costs, as all data is stored in just one central server. It also cost less to develop compared to buying a big standard system and having to customize it to meet our needs.”
Starcounter’s database enables Heads to provide Gekas with a high performance system that processes large volumes of ACID-compliant database transactions per second on a single server. The database also offers continuous traceability of all retail items in real time. For example, for each product, Gekas’ procurement officer can see how much has been sold and how much remains in stock, both in real time.
Horizon Group, CBL to develop The Outlet Shoppes at Louisville
Simpsonville, Ky. — Following on the heels of successful outlet projects in Atlanta and Oklahoma City, CBL & Associates Properties and Horizon Group Properties announced another joint venture – to co-develop The Outlet Shoppes at Louisville, in Simpsonville, Ky.
The 370,000-sq.-ft. project will be the only outlet center in the state of Kentucky, and will draw residents of Louisville, Lexington, Frankfort and the surrounding area. In addition to serving those communities, The Outlet Shoppes at Louisville will provide tourists and conventioneers with a reason to shop in the state.
Construction will begin in June, with the grand opening scheduled for late summer 2014. Horizon will be responsible for leasing and management of the new center.
The Outlet Shoppes at Louisville is currently more than 75% leased or committed with outlet retailers such as Coach, Banana Republic, Brooks Brothers, Chico’s, Nike, Saks Fifth Avenue OFF 5th and more.
“We are pleased to once again partner with Horizon Group and are excited to bring outlet center shopping to the state of Kentucky,” said Stephen Lebovitz, CBL’s president and CEO.
“Louisville and Lexington are major tourist and retail markets, and we have a terrific location to develop Kentucky’s premiere outlet center,” added Gary J. Skoien, Horizon’s president and CEO.
The pair JV-developed The Outlet Shoppes at Oklahoma City and The Outlet Shoppes at Atlanta.
DDR to acquire select power enters for $1.46 billion
Beachwood, Ohio — DDR Corp. announced an agreement to acquire a portfolio of prime power centers from its existing joint venture with Blackstone Real Estate Partners VII. The acquisition is slated to close in fourth quarter 2013.
The joint venture between Blackstone and DDR currently owns 44 shopping centers, and DDR will acquire Blackstone’s 95% common equity ownership interest in 30 of the shopping centers for $1.46 billion.
The portfolio being purchased includes 10 properties that DDR has a current right-of-first-offer to acquire, such as Shoppers World in Boston, Woodfield Village Green in Chicago, Fairfax Towne Center in Washington, D.C., and Riverdale Village in Minneapolis.
The 14 properties not being acquired will remain in the venture owned 95% by Blackstone and 5% by DDR, and DDR will continue to manage and lease those properties.
"We are very pleased to add these outstanding assets to our wholly owned portfolio," said Daniel B. Hurwitz, CEO, DDR. "It was our goal to accomplish this upon the initial formation of the venture with Blackstone, and we thank them for being outstanding partners.”