How to Save the Mallby Lauren Sherman
LOS ANGELES, United States — Do consumers still need shopping malls? One in four US malls won’t exist in five years, according to a June report by Credit Suisse. This year alone, American shopping malls will lose an estimated 8,640 stores to closures. That’s, in part, thanks to digital sales of apparel, which are growing fast and estimated to reach 35 percent of total apparel sales by 2030, up from 17 percent this year.
And yet, for those raised on the west side of Los Angeles, the Century City mall is an institution. On October 3, the latest, gleaming, iteration of the shopping centre — the third place of third places — will be officially unveiled to consumers by Westfield, the multinational mall operator which is doing its best to dispel the idea that the shopping mall is dead.
The new Westfield Century City, re-imagined in partnership with Los Angeles-based (and television famous) interior designer Kelly Wearstler, features outdoor dining spaces, acres of gardens, even a canopy of olive and palm trees. And yes, stores. Over 200 of them, including a three-storey Nordstrom, a Zara and a Bonobos.