After my recent post for Silverlake Axis AGM, I managed to go for Starhill Global REIT AGM too! :)
Man, the turnout was crazy, they ran out of handsets and bags, and had to add chairs to the venue. Thankfully, there's a $20 Wisma Atra voucher.
Let's get on to it:
- Retail Market remains challenging due to a change in Gen Y/Millennials spending habits
- Digitalising has moved faster than regulations and infrastructure
- Mitigation strategies:
- Create thematic malls by picking brands to work with
- Most brands except luxury brands such as LVMH are too poor or in financial difficulty to create curated malls
- Starhill aims to work with brands while helping them grow
- Charles and Keith was an example of them buying a stake and helping them grow to where they are now.
- Create a pipeline of brand partnerships to fill up the malls/offices
