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@ Sunday Times Books LIVE

Marc Wainer: The Success of Shopping Centres Lies in Clothing Outlets

Making My MarcMarc Wainer, the chairperson of Redefine Properties and author of Making My Marc: Lessons from a life in property, said at the release of the company’s annual financial results that the future of shopping centres lies in clothing stores.

Wainer points out how clothing brands have been flooding the country recently, and says that is just the tip of the iceberg: “The brands that have entered SA so far are only a smidgen of what is on offer in Europe and the US.”

According to Wainer, fashion chains are cheaper to set up than traditional “anchor stores”.

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Shopping centres should be anchored by clothing outlets to be more successful, as opposed to food stores, as South Africans embrace the slew of global fashion brands flooding the country, property doyen Marc Wainer said on Thursday.

Mr Wainer, chairman of Redefine Properties, was speaking at the release of the property company’s financial results for the year to August, in which the group achieved 8.5% distribution growth.

“The brands that have entered SA so far are only a smidgen of what is on offer in Europe and the US. South Africans are excited about global brands and that will encourage more of them to enter,” he said.

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