SouthPark, Charlotte, NC
• We continued to grow our omni-channel support services for retailers and brands in our properties through reverse logistics capabilities and micro-fulfillment centers with Fillogic and omni-channel services offered by Dropit. • We adopted multi-destination wayfinding within our sites and
• At year-end, we had an ownership interest in Authentic Brands Group (“ABG”), a world-class intellectual property, brand development, marketing and entertainment company. The ABG licensing platform includes more than 50 brands. • Our retail investments include SPARC Group (“SPARC”) and JCPenney. SPARC includes seven brands—Aéropostale, Brooks Brothers, Eddie Bauer, Forever 21, Lucky Brand, Nautica and Reebok. Total sales for these retailers were approximately $11.5 billion in 2023. SPARC entered a partnership with SHEIN, a global integrated online marketplace for fashion, beauty, and lifestyle products. Under the terms of the agreement, SHEIN acquired an approximate one-third interest in SPARC Group, reducing our ownership interest from 50% to 33%. • Shop Premium Outlets (“SPO”), the preeminent online outlet marketplace, significantly outpaced expectations, with gross merchandise value increasing more than 75% in 2023. We expect continued growth in SPO as we add more world-class brands to the SPO marketplace.
COMMUNITY IMPACT • Our centers are more than places to shop, dine and be entertained. We strive to make our shopping destinations sources of pride for those that live and work in the communities we serve through our involvement, engagement, and support of their community priorities. • During the year, we connected with hundreds of nonprofit organizations, supported disaster relief efforts, collected over 15,000 donations, from new/gently used clothing to toys for the holiday season, and aided in raising nearly $2.5 million in funds for events such as Fashion Funds the Cure for the National Pediatric Cancer Foundation, Shop with a Cop, military support for Wreaths Across America, and Susan G. Komen national Shop with Purpose Campaign and breast cancer awareness walks. • We maintained affiliation with Give Back Box ® which provides a convenient way for consumers to donate gently used clothing, shoes, and accessories to help those in need. Donations in 2023 were triple those in 2022 with over 4,200 boxes shipped.
apps to help shoppers plan the most efficient routes for their shopping trips.
• We continue to invest in technologies that help reduce our operating costs, as well as our carbon footprint, and that will enhance our best-in-class operating margin. OTHER PLATFORM INVESTMENTS • We have a long track record of making smart and profitable non-real estate investments. We are very pleased with our investments to date that have been made in leading companies and brands involved in retail operations, intellectual property assets and licensing, and e-commerce marketplaces. These investments are synergistic to our Company but are not material.
VIII SIMON PROPERTY GROUP, INC
Powered by FlippingBook