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SPG – Simon Property Group Inc.

The Simon Property Group (SPG) is a real estate investment trust (REIT) which owns, manages & leases premier shopping, dining, entertainment and mixed-use properties. The company was founded by Fred Simon, Herbert Simon and Melvin Simon in 1993 and is headquartered in Indianapolis, Indiana. In the US, the company’s properties consist mainly of regional malls (100), premium outlets (70), mills (15), lifestyle centers (4) among other retail properties (15). Internationally, it owns about 30 Premium and Designer Outlet properties. It also owns stake in Klépierre SA, or Klépierre and shopping centers located in 15 countries in Europe. It has 3,300 employees across the US, Europe and Asia.

As at 12/31/2020

Many of its properties are anchored by major tenants such as JCPenney, Macy’s, Dillard’s, Neiman Marcus, and Bloomingdale’s and supplemented with smaller stores like Dick’s Sporting Goods, Nordstrom, Kohl’s, and AMC Theatres. Its Premium Outlets are home to a variety of popular retailers including Adidas, American Eagle Outfitters, Ann Taylor, Columbia Sportswear, Michael Kors, Tommy Hilfiger, and The North Face.

SPG has multiple avenues for generating income, namely; building new malls, acquisitions, improving occupancy rates and raising rents. The company has made a shift in it’s strategy, by focusing on its luxury outlets. It recognizes that a consumer would like to ‘feel’ a luxury product before making a purchase. SPG recently acquired Taubman Realty Group for US $3.4 billion. The group also recognizes the importance of e-commerce and has partnered with the Rue Gilt Groupe, to provide a digital value shopping platform for its customers.