Paris, June 6, 2023
Starting June 1, 2023, the entity dedicated to operating retail real estate, led by Renaud Maret, will take over the operational management of outlet centers operating under the Marque Avenue brand.
Regarding the real estate, the group's management company acquired, through a dedicated institutional fund, 4 of the 7 centers operated by Marques Avenue and a fifth center managed by a third party, whose management has been transferred to Marques Avenue.
This operation illustrates Mata Capital's conviction to align retail real estate management with operational exploitation to support the changes in retail and counter "retail bashing."
With the acquisition of Marques Avenue, Mata Capital demonstrates its ambition for the operational management of outlet centers and brand development. Mata Capital confirms Zakari Leriche as the company's leader and its entire team, who will be supported by the experience of Renaud Maret, as well as that of Marques Avenue founder, Alain Salzman, who remains a key shareholder and a member of the strategic committee.
“After 30 years dedicated to the incredible Marques Avenue adventure, I am delighted to see the company, its brand, and 5 of its major sites join the Mata Capital group today, embracing its vision, ambitions, and strong dynamism. I am convinced that this is a historic turning point for all of us and I am happy to now share this journey alongside Jean-Baptiste Pracca and Laurent Delautre, under the collegial leadership of Renaud Maret and Zakari Leriche,” states Alain Salzman.
“Marques Avenue literally enabled the outlet concept to materialize in France in the 90s. Alain Salzman and his teams successfully pioneered this market, as we all know. Today, we are proud to write the new chapters of this saga with Zakari and have big plans for this form of retail, in which we strongly believe,” comments Renaud Maret.
Repositioning the centers and adopting a virtuous approach
This acquisition, combined with a significant financial contribution of several tens of millions of euros to be invested in the centers, aims to reinvent the Marques Avenue model and accelerate the revitalization of these sites. The real estate expertise of the group's management company, combined with Marques Avenue's 30 years of experience as an outlet center developer and operator, will initiate a new growth cycle for the company.
The Mata Capital group thus aims to enhance the operator's potential, while preserving the brand's strong values and the commitment of its employees.
Three key development areas will be prioritized:
- the modernization and repositioning of the centers;
- the renewal of the customer experience with an enriched merchandising mix to stimulate site traffic and relaunch a virtuous cycle of commercialization and brand attractiveness;
- market consolidation through development, the acquisition of new mandates, or even the purchase of sites.
Finally, the Mata Capital group has strong CSR ambitions for Marques Avenue. It plans significant ESG investments in real estate assets through its management company, the transformation of the operator into a mission-driven company, and obtaining B Corp Certification by 2025.
“The retail world and the commercial real estate sector are traditionally managed independently. At Mata Capital, we believe this is a fundamental error that jeopardizes many business models, both for brands and landlords. With the acquisition of Marques Avenue, we are bringing this vision to life, and this is just the first of our projects in this area!” says Jean-Baptiste Pracca, Managing Partner at Mata Capital.