International Council of Shopping Centers acquires Value Retail News.NEW YORK--(BUSINESS WIRE)--March 1, 1996--The International Council of Shopping Centers The International Council of Shopping Centers (ICSC) is an international trade association of the shopping center industry. The organization, founded in 1957, has 65,000 members worldwide, which include shopping center owners, developers and managers, as well as other individuals, (ICSC ICSC International Council of Shopping Centers ICSC International Chemical Safety Cards ICSC International Civil Service Commission ICSC International Council of Shopping Centres ICSC International Catholic Stewardship Council ) today announced that it had finalized See finalization. its purchase of the assets and businesses of Value Retail News (VRN VRN Verkehrsverbund Rhein-Neckar VRN Vehicle Registration Number VRN Verona, Italy - Verona (Airport Code) VRN Value Retail News (magazine) VRN Video-Rich Navigation ), a Clearwater, Fla.-based publisher and trade show producer. Terms of the deal were not disclosed. In a separate but related long-term deal announced last December, Developers of Outlet Centers (DOC) and Manufacturers' Idea Exchange (MIE) agreed to recognize the VRN unit ICSC as the exclusive company for conventions and leasing meetings and that VRN would serve as the official voice of the factory outlet center industry. VRN had provided somewhat similar services to those associations in the past. ICSC is the worldwide trade association of the shopping center shopping center, a concentration of retail, service, and entertainment enterprises designed to serve the surrounding region. The modern shopping center differs from its antecedents—bazaars and marketplaces—in that the shops are usually amalgamated into industry. DOC and MIE are similar not-for-profit organizations focusing on factory outlet centers. "Value Retail News is a logical and excellent addition to the ICSC team," said John T. Riordan, president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of ICSC. "Outlet centers have a specific and distinct role among the several types of shopping centers in operation today. We will offer this industry sector our professional expertise in meeting planning, education, research, publications and government affairs but we will do it in a way that recognizes the essential characteristics that differentiate outlet retailing from other forms." Riordan added that ICSC's immediate plans are to continue the operations of Value Retail News from its Florida base as a largely distinct unit. Dan Cochran will serve as general manager of the VRN unit, reporting to Riordan. Value Retail News is the brainchild of publisher Terry Dunham, who established the magazine in 1983. Dunham will serve as a consultant to ICSC on matters related to the outlet industry. "As I said when the deal was proposed, ICSC is the ideal home for VRN," Dunham said today. "The winners in this deal are the readers of VRN and the attendees at our conventions. ICSC's professionalism will help strengthen VRN and the entire outlet industry as they move toward the year 2000 and beyond." Founded in 1957 and based in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , ICSC is the not-for-profit trade association of the shopping center industry. ICSC serves its 30,000 members in 60 countries by assisting in the development of their businesses through professional education, conferences and conventions, publications, research and legislative action. The 40,000 shopping centers in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. account for more than half of all non-automotive retail sales, about $880 billion. Factory outlet centers are one of the fastest-growing segments of retailing. VRN estimates that 330 outlet centers in the United States account for more than $12 billion in annual sales, up from $6.3 billion in 1990. CONTACT: ICSC, New York Mark J. Schoifet, 212/421-8181 ext. 344 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion