REIT AsiaPac

Sign up for our FREE news and magazine on Asia Pacific REITs

Vicinity Centres And Global Marketplace Announce New Partnership

October 28, 2021 – Global Marketplace (GMP) and Vicinity Centres (Vicinity), have today announced a strategic partnership combining the national physical footprint of Vicinity’s 61 retail destinations with leading e-commerce events, data and marketplace owner GMP.

Owner of Click Frenzy, Click Central, and Power Retail, GMP’s partnership with Vicinity will support its growth aspiration and play an important role in Vicinity’s expansion of its omnichannel retail presence. GMP has also entered into an agreement for the acquisition of New Zealand based GrabOne, which is expected to complete by the end of October.

“This is an ideal strategic fit – Vicinity Centres owns and manages some of Australia’s leading physical retail destinations, and GMP offers a substantial footprint in digital commerce” said GMP CEO Nathan Brown.

“GMP will add to Vicinity’s physical retail reach by offering established e-commerce brands, an audience of over 1.7 million online shoppers, and data and insights via Power Retail, Click Central, and two of the four biggest weeks on the Australian online retail calendar including Click Frenzy.

“Joining forces with Vicinity will facilitate GMP’s continued growth and enhance the performance of omnichannel retail in Australia and deliver some ground-breaking new initiatives for retailers and customers.”

The strategic investment in GMP advances Vicinity’s expertise in omnichannel retail, connecting its 7,000 retail partners, with online promotions and marketplaces to deliver shared value creation for retail partners, shoppers and securityholders.

Read more here..

Related News

Vicinity Centres Strengthens Its Outlet Portfolio With Acquisition Of 50% Interest In Harbour Town Premium Outlets Gold Coast