Luxury retail is about ‘emotions, not transactions’

The physical shopping experience matters more than ever, says Value Retail founder Scott Malkin, whose company owns some of the world’s best-performing luxury shopping destinations.
‘We are getting 60 million people a year,’ reports Scott Malkin, founder and chairman of Value Retail. “We want each of our guests to feel special. It’s about defending the soul of the experience,” he says, “and creating joy for our guests.” Value Retail owns and operates about a dozen open-air luxury shopping destinations in Europe and China. Malkin says these retail destinations have among the highest sales per square foot of shopping centers in the world.