LAS VEGAS, May 24, 2004 (PRIMEZONE) -- Mirror, mirror on the wall, who are the hottest retailers shopping centers are seeking to have in their malls? Based on a survey compiled by Shopping Centers Today, a publication of the International Council of Shopping Centers (ICSC) of nearly 3,000 North American shopping center management professionals, six retailers were chosen and presented with the ICSC "2004 Hot Retailer Award" today. The awards were given during ICSC's Spring Convention, May 23-26, 2004 in Las Vegas. So who are this year's Hottest Retailers??
BUILD-A-BEAR
The one-of-a kind, build-your-own teddy bear retailer targeting children of all ages is the "bear-storm" of Chief Executive Officer, Maxine Clark. Founded and based in St. Louis, Mo., in 1997, Build-A-Bear has taken the retail industry by storm by inviting guests of all ages to create their own customized stuffed animal through a "bear-making" process. Currently, Build-A-Bear has over 150 stores in the United States with four stores in Canada. Build-A-Bear Workshop opened its first international store in Sheffield, England in the fall of 2003 and recently opened stores in Japan and Korea. The company is scheduled to open 18 new stores in the U.S. in 2004 and is on track to open more international stores this year, including its first stores in France and Denmark, making it the global leader in the teddy bear business.
H&M Established in Sweden in 1947 with the business concept of "fashion and quality at the best prices," H&M sells apparel and cosmetics in over 948 stores around the world. H&M first made its appearance in the U.S. in 2000, when it opened a store on Manhattan's Fifth Avenue. Since then, it has opened 67 stores in various cities throughout the U.S. including Boston, Philadelphia, Chicago, and Syracuse, New York. In 2004, H&M plans to open an additional 40 stores including locations in Canada and Slovenia.
HOLLISTER
As one of the newest "lifestyle" retailers, geared to 14-18 year olds, Hollister offers "southern California" apparel items that are upscale, trendy, and are at a price teens can afford. Introduced in July 2000, Hollister is making waves across the country. Currently Hollister operates over 125 stores across the U.S. with plans for expansion in the coming years.
HOT TOPIC
Developed with the MTV generation in mind, Hot Topic targets customers between the ages of 15 and 29. Hot Topic has over 500 mall-based stores in 49 states in the U.S. and Puerto Rico, and specializes in apparel, accessories and music-related merchandise, including street wear, punk, gothic and retro. Established in 1988, Hot Topic capitalized on the correlation between music videos, alternative artists, and teen fashion. With plans to open 70 stores in 2004, Hot Topic has a wide selection of unique gifts and unusual accessories, which makes this retailer like none other in the mall.
TRADER JOE'S COMPANY
What began as a chain of convenience stores called "Pronto Markets" in the Los Angeles area in 1958, has now grown into a truly unique grocery store. When the founder, Joe Coulombe, the original Trader Joe, wanted to expand the stores' offerings and enhance their image in 1967, he doubled the floor space and offered hard-to-find, boutique domestic and imported wines and gourmet food items at outstanding prices. He decked out the stores with cedar plank walls and nautical decor and garbed the store manager as the "Captain," the assistant manager as the "First Mate," placed the employees (Crew Members) in colorful Hawaiian shirts, and thus created "Trader Joe's." Today, the mission remains the same -- bringing the best food and beverage values to be found anywhere. Trader Joe's, which currently locates in freestanding sites along with neighborhood and strip centers, boasts over 200 stores in 17 states. The company plans to open at least eight additional stores in the coming year.
VICTORIA'S SECRET
The largest subsidiary of Limited Brands, Victoria's Secret is the leading specialty retailer in lingerie and beauty products and currently operates more than 1,000 Victoria's Secret stores in 49 states in the U.S. Victoria's Secret is primarily a tenant in super-regional and regional malls and averages sales per square foot of approximately $600. It continues to dominate its world with modern, fashion-inspired collections, prestige fragrances and cosmetics, celebrated supermodels and world-famous runway shows.
"For the second year in a row, ICSC is pleased to announce and award its 'Hot Retailer Award' to retailers that have worked hard to create products and services that bring customers to shopping centers around the world," said Michael P. Kercheval, ICSC's president and CEO. "These six retailers continue to re-invent their offerings while creating an exciting and interesting experience, not only for their customers, but to the shopping centers, developers and mall managers that they work with every day. ICSC is pleased to add these six retailers to our annual list of Hot Retailers and spotlight them during our Spring Convention," Kercheval added.
Founded in 1957, ICSC is the global trade association of the shopping center industry. ICSC services its over 46,000 members in over 77 countries by assisting in the development of their businesses through professional education, conferences and conventions, publications, research and legislative action.