Simon Announces New Investments as Company Bolsters its Consumer-Facing Entertainment and Lifestyle Platform
INDIANAPOLIS, Oct. 28, 2019 /PRNewswire/ -- Simon®, a global leader in premier shopping, dining, entertainment and mixed-use destinations today announced its recent new investments in best-in-class operators across the hospitality, health and wellness, dining and entertainment sectors.
In addition to Simon's partnership with Rue Gilt Groupe focused on digital value shopping, including its new marketplace shoppremiumoutlets.com, these investments complement the company's core real estate by introducing new experiential businesses to markets across the country. This is in addition to investments made by Simon Ventures in Foursquare, Bustle Digital Group, FabFitFun, Grailed, Le Tote, Bird, Brud, Verishop and other next generation innovators in tech, media and retail.
Simon's growing portfolio now includes equity investments in a diverse set of consumer brands including the premier healthy lifestyle brand Life Time; dining and entertainment trend-setter Pinstripes; e-gaming innovators Allied Esports; the seminal Sports Illustrated brand; and Major Food Group's popular casual Italian dining destination, PARM®. Simon also completed a recent minority investment in Soho House, the global membership subscription business with Houses in London, mainland Europe, Asia and America.
Life Time is slated to open its newest Life Time athletic resort, Life Time Sport and Life Time Work coworking space on December 3rd at Southdale Center (Edina, MN), with at least 10 more Life Time destinations at Simon locations to follow. Pinstripes debuted at The Shops at Clearfork and will soon open at Phipps Plaza (Atlanta, GA), Stoneridge Shopping Center® (Pleasanton, CA) and St. Johns Town Center® (Jacksonville, FL). PARM® is scheduled to open its first location outside New York City at renowned Woodbury Common Premium Outlets® in early 2020.
"We have a market-leading collection of iconic properties generating billions of visits each year. We have our finger on the pulse of changing consumer trends and we use those insights to partner with dynamic brands to build the next generation of experiential destinations," said David Simon, Chairman, CEO and President of Simon. "In addition to driving our own business growth, our shoppers benefit from a wide range of exciting new-to-market concepts, and our brand partners expand their customer base."
Building on previous retail-focused investments in Aeropostale, Nautica and brand-builder Authentic Brands Group, these latest partnerships illustrate Simon's ongoing investment strategy.
"Our company is grounded in real estate, but these investments demonstrate that we are in the process of creating an eclectic, consumer-centric platform. The world is moving fast and we're evolving to meet the ever-changing needs of our consumers, retailers and brand partners. Reimagining our properties as synergistic eco-systems of complementary experiences will offer customers a broad array of shopping, dining and entertainment offerings that cannot be found elsewhere," said David Simon.
Simon is a global leader 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. For more information, visit simon.com.
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Ali Slocum, Vice President, Public Relations, 317.273.3860, Ali.Slocum@Simon.com