MAB Corporation is set to announce its entry into the retail sector with the development of a new brand outlet concept chain – Brand Junction, targeted to fill a strategic position in the market-place.
Senior Retail Development Manager, Mark O’Connell said that this was a new direction for MAB Corporation and the organisation had committed a number of resources to ensuring its entry was deliberate and successful.
“Brand Junction has been strategically developed to meet a gap in the market and to address the growing trend towards discount brand outlet shopping in Australia and New Zealand”, Mr O’Connell said.
“MAB Corporation is planning to roll out the Brand Junction concept store as part of a broader strategy and will consider further potential sites as appropriate opportunities become available.
“The first Brand Junction concept store will be located in Melbourne’s northern corridor being one of the fastest growing growth corridors in metropolitan area in the suburb of Bundoora, directly fronting the major northern arterial of Plenty Road at the intersection of the Metropolitan Ring Road.
“It will be a major anchor in a multi faceted town centre retail development in a new master planned community that will be announced later today by MAB Corporation.
“All the research has indicated that this is a well positioned location for a discount brand outlet store taking into account the population growth projected for the region and the receptive profile of the market to brand outlet shopping.
“By 2016, total retail expenditure on fashion and homeware goods is estimated to grow to more than $ 1 billion in the identified catchment area.
“Its locational benefits are also supported by its proximity to the RMIT and Latrobe University campuses and access to all surrounding suburbs via the major arterials of Plenty Road and the Metropolitan Ring Road.
“Passing traffic on Plenty Road is currently 60,000 vehicles per day which provides a significant opportunity for Brand Junction and gives the concept store a point of difference to its competitors that tend to be more destinational driven.
“The first Brand Junction concept store will include up to 60 premium brand names that will be drawn from a cross section of established brand names in the fashion; footwear; homewares; sporting; and lifestyle, retail categories.
“The leasing programme has commenced and MAB Corporation is receiving a positive response from number of brand leaders.
“Leasing space that will be available will range from 80m2 to over 500m2 to attract the range of retailers that will be necessary to enable Brand Junction to be a successful proposition in the market-place.
“The construction of the first Brand Junction concept store will commence in early 2006 and will be opened in 2007.”