Mall landlords have been forced to rethink their leasing models and floor plans to accommodate startups. — Bloomberg
Amid the grim march of the retail apocalypse, the industry has derived some hope in recent years from the rise of scores of digital-centric startups. There is cause for optimism, but there’s also reason to be skeptical of the hype surrounding these brands – not just because their business models aren’t proving durable, but also because many of them are now intertwined with the companies they are ostensibly disrupting.
Consider, for example, the November announcement from supermarket behemoth Albertsons Cos about the future of meal-kit maker Plated, which the grocer paid US$200mil (RM820mil) for only two years ago. The company said it was ending the subscription model for Plated and that its products would now simply be part of its private-label business. It’s hard to see that as anything other than a concession that the format is a dud.
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