Simon Property Group Inc.
The largest publicly traded retail real estate investment trust (REIT) in North America maintains its image as the “Landlord of Choice” through innovation, creativity, and a business model that consistently outperforms the industry. Why? Obviously, excellent talent, vision, and a quality focus.
But what really sets Simon apart is its marketing strategies - equal to none. TV ads are designed not only to brand “Simon” in the minds of consumers, but also to advocate mall shopping and illustrate the appeal of having choices and the desire for variety.
Simon Brand Ventures, the business-to-consumer arm of the company, has launched two major marketing events targeting teens and children: the third-annual Simon DTour Live™, a reprogrammed national roadie trip of hot stars and hip brands for teens (who visit Simon Malls on average nearly 5 times per month), and Feelin’ Groovy, an upbeat, national celebration of “health and swellness” that teaches young children (with their consumer parents in tow) to play their way to healthy living.
In mid-July, the company announced a strategic alliance between Phipps Plaza (Atlanta’s premier upscale shopping destination) and General Motors’ Cadillac division. The program, which will utilize Atlanta as a test market, promises to combine the similarities and strengths of two national premium brands into one of the most notable marketing alliances in their respective industries. The alliance is multi-pronged; by naming Cadillac the “Official Vehicle of Phipps Plaza,” the brand will use the shopping center as an interactive stage to highlight its full line of redesigned luxury vehicles. Phipps Plaza’s highly trafficked valet service - a much-coveted perk at the mall - will now be complimentary for all mall patrons arriving in a Cadillac. These and other initiatives will be reinforced through lifestyle content with a series of exclusive, invitation-only events created by Cadillac and hosted by Phipps Plaza retailers.
With retail rivals buying up additional properties, it will be interesting to see if Simon can hold its top spot through savvy marketing and acquisitions (i.e. Chelsea Property in 2004). What’s next for this marketing genius?