Change and Transformation in the Private Sector
Arca Blanca and Landsec
Reimagining Retail
Covid-19 only exacerbated the turbulence in the retail sector. By 2021, the UK had more than 150 million square feet of vacant retail space, and landlords with occupied locations were struggling to receive rent on time. More concerning was the prediction that lockdowns and social distancing measures would create long-lasting behavioural changes.
As one of the largest retail space owners in the UK, Landsec was no stranger to this tumult. Covid-19 had forced its retail centres shut, causing financial losses and halving its share price. Enter the new MD of Retail, Bruce Findlay, with a bold strategy to Reimagine Retail – and a call to Arca Blanca to help execute it. Landsec should transform itself from a conventional landlord to a partner of choice for ambitious brands, a provider of compelling guest experiences and a retail innovator.
Landsec needed to lead and own the transformation if it was to be embedded successfully. To set Landsec’s change champions up for success, Arca Blanca would work side-by-side with them, acting as a critical friend and providing the tools and guidance they needed to be successful. The project has completely reconfigured the way Landsec views and operates its retail spaces. It now puts the guest experience front of mind and acts as a trusted partner of choice to leading retail brands.
“Landsec’s culture had become somewhat passive and risk adverse in our retail asset management and we needed a shakeup.
“Arca Blanca brought the challenge we needed to break this cycle, and they helped us put our Guests and Brand Partners front and centre. Their coaching style really empowered the Landsec team, untapping our potential to create value, trial new approaches and ultimately make decisions faster.”
— Bruce Findlay, MD of Retail
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