world`s best shopping mall
One of the most distinctive shopping centres in the world, Dubai's Wafi Mall is known for its opulent décor as well as its range of shops and restaurants. Shaped like an Egyptian pyramid, it has hieroglyphics that decorate the walls, while statues of pharaohs sit next to the gold-foiled white pillars lining the walkways. Arabic fashion stores like Eve N Black stand alongside big-ticket European luxury retailers such as Missoni and Chanel.
Wafi is just one example of how extravagant and sometimes over the top--the world's malls can be.
Sure, hot weather in places like the Middle East make indoor shopping centres preferable, but these spots go beyond necessity. Today's superstar malls are often the epitome of opulence.
Most of these centres sprang from the growing demand for luxury goods in the BRIC countries--Brazil, Russia, India and China. An emerging middle class has stolen market share from the West, forcing brands to open up shop in developing nations where their names were virtually unknown before 1995. In fact, Chinese consumers now account for 12% of worldwide sales of global luxury goods, about $6 billion altogether, according to Goldman Sachs.
All upscale, all under one roof
For those travelling or living in the Middle East, Villagio in Doha, Qatar, is a must-see. Under a ceiling painted like the sky, this white marble mall resembles a movie set or, better yet, a Disney theme park with its postmodern pillars, bridges and ornamental flares. But instead of prop closets or cartoon characters, the space houses over 200 shops, including Dolce and Gabanna, Banana Republic and Ralph Lauren.
Emaar's Dubai Mall inauguration on Oct 30
In Melbourne, Australia, where emerging fashion labels like Dhini and Kirrily Johnston are based, try GPO. This neo-Renaissance-style building served as a post office for more than 100 years. After a fire that nearly destroyed the space in 2001, the GPO reopened as a mall featuring local designers such as women's wear specialist Wayne Cooper, bikini brand Zimmermann and dressmaker Leona Edmiston.
"The style at GPO was unique and fascinating. The clothes were very different from other fashion looks," says Karen Meyerhoff, a managing director at the Guggenheim Museum, who visited recently.
From indoors to out in the US
Malls may be the attraction du jour in several parts of the world, but in the US, indoor shopping meccas have been replaced by outdoor 'lifestyle centres', immaculately landscaped properties that offer fine dining and provide access to specialty and big-box retailers, all within walking distance.
This change occurred in the 1990s, during the rise of specialty retailers like Gap, Abercrombie & Fitch and American Eagle Outfitters. The market for department stores which usually serve as a mall's anchor, generating the largest number of sales is saturated, and developers have been forced to try new approaches to keep consumers interested. The concept of having a stylish outdoor centre where shoppers can eat outside in the summer and easily move from Victoria's Secret to Target in the cooler months without driving 20 more miles is more attractive.
"In the last 10 years there has been an absolute explosion of retail shopping opportunities," says Pam Danziger, founder of Stevens, Pa-based United Marketing, which provides market research for luxury goods companies, referring to the aforementioned lifestyle centres.
In 2008, there are 69 open-air centres being built, compared with 37 in 2007 and 14 in 2006, according to Boston-based firm Property and Portfolio Research. On the opposite end, the vacancy rate for indoor malls was 6.3% in the second quarter of 2008, according to Reis, a commercial real estate research firm. That's the highest it's been since the end of 2001.
Although the US may have started to shed its mall culture with the development of these outdoor centres, there are some upscale venues that still shine, like the Shops at Columbus Circle in Manhattan's Time Warner Centre. It has only 52 shops, but its distinctive blend of high-end retailers, upscale restaurants and larger, mid-market stores makes it a destination for locals and tourists alike.
It's also known for its dining scene, which includes sushi restaurant Masa, home of the $400 tasting menu. Per Se, with chef Thomas Keller's highly lauded take on the popular New American-French menu, is considered one of the best restaurants in the country.
In Pictures: The World’s Best Shopping Malls
From East to West, whether you're chasing after a limited-edition Chanel handbag, the freshest sushi or the ultimate tourist attraction, these malls stray far from the J C Penney and Spencer's Gifts of your past. And consumers seem to be saying of them, 'Good riddance'.
