Sawgrass Mills, Sunrise, FL
• We continued the expansion of luxury and highly desirable fashion brands across our portfolio as we executed multiple deals with many of the world’s best brands. During 2023, we executed deals with Bottega Veneta, Breitling, Celine, Christian Louboutin, David Yurman, Etro, Givenchy, Gucci, Saint Laurent, and Tag Heuer, to name a few. • With brick-and-mortar stores as the cornerstone to any retailer’s successful strategy, we continued to open locations for many formerly online-only growth brands such as Alo Yoga, FRAME, Gorjana, Glossier, On, Rowan, Vuori, Warby Parker and many others. • Restaurant activity is robust with leading world-class restaurateurs and best-in-class local operators. We executed 59 new restaurant deals and opened 41 restaurants in 2023, with approximately 100 more in the pipeline. • We added interactive entertainment operators to our properties, including Malibu Jack’s, Meow Wolf and Suffolk Punch, with future openings to include GameTime, Pinstripes, Puttshack and Round1. Demand is dramatically increasing in this category.
MARKETING • Our marketing efforts aim to drive awareness, traffic and sales for brands and retailers at our properties through robust digital content, best-in-class programming, high-impact creative, and strategic amplification of our storytelling. • Messaging and amplification strategies are carefully curated to reach and engage our target audiences (e.g., Moms, Gen Z, Tourists, Luxury, Multi-cultural) and localized for each property to drive footfall. • We held our second annual National Outlet Shopping Day TM (“NOSD”) at 97 properties, including certain international locations, with over 400 retailer brands participating, providing more than 5,300 unique offers and/or experiences. In its second year, NOSD generated over 3 million shopper visits and more than 40 million media impressions. More to come on this first-to-market innovative event. • We hosted over 4,500 events, including seasonal shopping experiences, concert series, fashion events, back-to-school, and holiday activations.
“Consistent outperformance in
cash flow growth, value creation and returnsto shareholders, have been, and we expect will continue to be, hallmarks of Simon.”
• We opened Paris-Giverny Designer Outlet, a 228,000 square foot center located in Vernon, France, our second outlet in France. • We have a significant expansion under construction in South Korea at the highly productive Busan Premium Outlets, expected to open in the fall of this year. • We have one new international development project under construction: Jakarta Premium Outlets in Indonesia, expected to open in 2025. Indonesia will be the fourteenth country in which we have developed a Premium Outlet. We can build from Tulsa to Jakarta. Few can. LEASING • We executed more than 4,500 leases totaling over 18 million square feet across the portfolio.
SIMON PROPERTY GROUP, INC
VI
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