Thursday, May 25, 2000 | 11:08 a.m.
Shari Simon harbors no fears of competition, whether it's in cyberspace or along the Las Vegas Strip.
Simon, vice-president of corporate marketing for Simon Property Group Inc., exudes confidence that the Simon-owned Forum Shops at Caesars will continue to prosper despite increased competition from both the Internet and other retail malls.
"I'm not concerned in the least about more (Strip-based) competition," she said.
"The Venetian (Canal Shoppes) opened, and it had no affect on our property. So, I have no concerns that Desert Passage will negatively affect our sales."
Desert Passage, a 500,000-square-foot Middle Eastern-themed retail complex adjacent to the new Aladdin hotel-casino, is slated to open this August. Fashion Show mall on the Strip is also expanding and is adding the city's first Nordstrom store.
Simon is in Las Vegas as part of her company's promotional efforts during this week's International Council of Shopping Centers conference.
Indianapolis-based Simon Property Group is the nation's largest real estate investment trust, and owns or has interests in 257 properties in 36 states and Europe.
Simon bases much of her confidence on the conviction that more retail choices along the Las Vegas Strip translate into more shoppers.
"People visiting Las Vegas like to cross-shop at different malls, so if anything, it's possible the Desert Passage may benefit the Forum Shops by bringing more people to the Strip," she said.
However, Simon is quick to add that the Forum Shops does not plan to rest on its laurels.
"This is a property that can't be duplicated, but our (forthcoming) expansion project is one of the ways we are working to ensure that we continue to be a leader in Strip-based retail," she said.
Construction is expected to begin late this year or early next year on the mall's Phase Three expansion.
An additional 240,000 square feet will be added to the mall, bringing its total retail space to about 750,000 square feet.
"We can't reveal any new tenants yet, but I can tell you the three-level expansion will have at least 25 new restaurants," Simon said.
Simon adds that another method of ensuring continued success is to embrace new technology and use the Internet as a marketing tool.
Last fall, Simon revealed plans to partner with Turner Broadcasting Systems to develop a multi-media entertainment package for Simon-owned malls across the country.
"We see the Internet and the new technology as an opportunity to provide greater convenience to our customers," she said. "Our website, shopsimon.com, provides access to local malls, retailers, and a range of products.
"But we're also moving in another direction by taking the Internet and related services to our mall customers."
Simon is introducing wireless Internet and information kiosks into its properties later this year; the kiosk is part of the company's promotional efforts at its booth at this year's ICSC.
Dubbed "clix n' mortar," the high-tech kiosk allows customers to engage in a wide range of e-commerce while visiting the malls.
Various portals provide both adult and teen customers with a means of communicating their shopping requirements to retailers, as well as checking a product's price and availability.
Other kiosk functions include providing business to business transactions and Internet access.
The kiosks are expected to arrive at the Forum Shops in time for this year's holiday shopping season.
In addition, earlier this month Simon joined with 10 rival real estate companies to form a real estate technology firm dubbed Project Constellation.
The joint venture will develop and sponsor real estate-related Internet, e-commerce and broadband enterprises. The partnership will also acquire interests in existing real estate technology companies.
Simon said her company's willingness to invest heavily in technology is in keeping with its history as an industry pioneer.
"When we opened the Forum, we saw it as mix of shopping, entertainment and lifestyle," she said. "Today, we are incorporating a range of new elements into a number of our properties around the country, including things such as an IMAX (movie theatre) and an outdoor amphitheatre."
Simon said that her company's lengthy history acts as a catalyst as it moves into the 21st century.
"We are a 40-year-old company, and so it's incumbent on us to look at our older portfolios and ensure they remain interesting and up-to-date," she said.
"We have five or six renovations of new or older properties happening this year. We're also always looking to acquire good properties. It's important that we keep our properties interesting, and that we maintain our place as an industry leader."
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