Arricano Real Estate, a major shopping center owner manager in Ukraine, recorded a 20% growth in real revenues last year, more than double the 8% national increase in real retail sales. Mikhail Merkulov, CEO of Arricano, a London-listed company, tells Proactiveinvestors news site that growth came from “working mostly for the tenant and not for the landlord.” He says: ”The secret to growth isn’t squeezing the tenant, but helping them grow their turnover.” One successful technique, is to give free sales clinics to salespeople working at tenant stores. Operating five completed shopping malls, Merkulov says developers have to be flexible in design. Alluding to growth of e-commerce he warns: “Major anchor tenants, with 1,500 square meters, could turn their massive spaces from warehouses into show rooms.”
Arricano Real Estate, a major shopping center owner manager in Ukraine, recorded a 20% growth in real revenues last year
