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From oversized to dead-on: That’s Mall of Switzerland’s verdict so far. Instead of busy activity, the shopping center at Ebikon in Lucerne often has a yawning emptiness. Salespeople stand around bored. Now the central administration has caught a big fish.
According to the information obtained from the balance sheet, fashion giant Inditex is switching to different formats. Zara is coming to Ebikon in an area of over 4,000 square meters. Pull and Bear and Stradivarius stores are also involved, according to insiders. It takes up space on two floors.
The central administration does not want to confirm this yet. However, he informed the tenants of Mall of Switzerland in writing about the agreement with Inditex. Accordingly, the Spaniards have recently signed contracts. Negotiations lasted about a year, according to insiders. Other tenants are hopeful: A large Zara branch will finally be able to bring their empty shops to life.
Zara attracts the attention of female customers
Zara continues to attract customers to its stores despite tough competition from online retail. Parent company Inditex achieved record sales and profits last year. Zara and Co. are finally giving the Mall of Switzerland the coveted appeal more than five years after its opening.
Many tenants fled because business was stagnant. These include famous names such as the two sneaker retailers Foot Locker and Skechers. Many workplaces are empty. The owners of the center can handle this financially. The mall is owned by Abu Dhabi sovereign wealth fund Adia.
Several stores need to be moved
Existing stores must be moved to make room for the new tenant. A spokesperson for Mall of Switzerland said construction work is currently ongoing at the centre. More details will be communicated throughout the autumn.
A Metro boutique and telecommunications provider Sunrise have already relocated, according to the media outlet. Fashion retailer Chicorée is also moving within the mall. It’s unclear what will happen to the Zara branch in the nearby Emmen Center. Industry experts are skeptical that the company will operate two stores located a few kilometers away from each other. Zara’s new flagship branch in Ebikon is expected to open its doors in early 2024.
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
