On top of that, having analyzed the target audience, the center optimized the tenant mix of the furniture brands to medium and premium class. This timely decision right after the opening of the center immediately brought success. The Armada shopping center has a unique location and a fantastic potential to transform into a lifestyle furniture center specialized in interior design.
This issue of Shopping Centers Russia is about transforming retail property into lifestyle centers. We are going to talk about what additional functions common shopping centers would add on, what trends should be taken into account and which property to copy. When thinking about the interview for the issue, we followed the same path and focused not on a traditional shopping center but a furniture one, or rather its transformation into a lifestyle center. We met Marina Isaeva, a consulting expert for the Armada furniture shopping center, to find out how to turn one into a lifestyle and design center of the future. Marina Isaeva is a member of the European Register of managers as a certified expert and a manager; she holds a DBA from the British Business Academy and Singapore Academy of Corporate Management. In addition, Marina has successfully managed shopping centers, participated in a full cycle of development, redevelopment and reconceptualization of retail property.
Marina Isaeva:
“LIFESTYLE CENTERS ARE THE FUTURE OF THE TRANSFORMATION OF RETAIL PROPERTY”
Ten years ago, the shopping center had just been built and launched as a classical shopping center with a small pool of furniture operators’ ratio to the total shopping floor. The neighborhood was developing very fast with a lot of new residential compounds placed into operation, so the management company captured the demand from the customers visiting that classical shopping center for specialized furniture operators and changed the function of the shopping center to focus on furniture only. This allowed us to make a unique offer to the residents of the south of Moscow and expand its reach from one South Western Administrative district to the city in general and later to the Moscow region adjoining areas.
The Armada shopping center was one of the first furniture shopping centers in Moscow. Could you please tell us why this particular format was chosen?
The Armada is about to change again. In fact, many people are saying that a reconceptualization is a must. Where to start the process? What must be considered to keep the current business alive while sticking to the path of changes?