I don’t know how accurate this information is since it was posted as a comment by a reader of the blog but according to him the IKEA owners are in dispute with the Avenues management due to the new outlet of Alghanim at the Avenues. Alghanim launched a new concept store right across from IKEA where they are selling electronics AND furniture. The agreement between IKEA and the Avenues is that they should be the only furniture outlet in the mall.
According to the same reader a fight has also started between Carrefour and IKEA against the Avenues management. Neither Carrefour nor IKEA are willing to accept the fact that their customers now have to pay for parking.
Finally just some more info. Carrefour paid KD3.5 per square meter, IKEA paid KD4.5 while Alghanim paid KD10 per square meter for their store.
Again, I don’t know how accurate the information above is but it sounds plausible.
43 replies on “Avenues Gossip”
I went to the Avenues last night, and got that coin thing, but I didn’t pay on my out!
And I also LOVED the new Alghanim store 🙂 it’s just great and the prices are fair.
How come most of the posts now are about the avenues?
“Neither Carrefour nor IKEA are willing to except the fact…”
did you mean accept? or except?
except = accept
then = than
yet = let
lol ok fixing it!
mocman i didnt use yet or then in the whole post so dont know what you are talking about
Rent for anchor tenants is always very small.
Most of the shops in there are going for 35 ++
Then woudln’t IKEA have a problem with the ONE too?
Carrefour paid KD3.5 per square meter, IKEA paid KD4.5 while Alghanim paid KD10 per square meter for their store
no way
marina/sooq sharq/mohalb sequare meters cost between 25-35 kd monthly
alrayah and salihya more than 40kd
I have no idea about the avenue but can not accept it to be that cheap compared to other malls
mark: its a general thing you do…
then and than i fixed that ages ago dude
yet and let that has never happened yet
Naser,
as crocko rock said, for anchor tenant are cheaper becasue of the squire meters they are renting. other retail store are 35 -45 , true. but for anchor tenant is different.
HaaMooR
Hey – if anyone has got some photo’s to post of this new home store I’d love to see them… our old sofa just gave up!
Well, I don’t think that IKEA and Carrefour have a choice any more. They are stock with Mabanee and the Avenues for long time now.
ikea has its customers and so does alghanim. i think the gossip is not true.
I dont think its true , The One is a furniture store too !
its ok … 🙂
also the price difference might go back to the fact they sell different goods , al ghanim, ikea and carrefour.
thats a possibility but you never know, in general all al shaya stores pay way less than other stores … if they only get to prove it, they would kick mabani’s A$$ in courts
The One at the Avenues is really tiny, they barely have anything. Now Comfort Living which is Alghanims furniture store is really big.
mark get your prices right!….i have a cousin that works with advertising companies, 360 mall = 30kd square meter…avenues stage one 30kd meter…avenues stage two 60 kd…just asked…and prices are increasing!
tiesto the prices I posted are for avenues. Its not a fixed price of kd30 per square meter. It depends on the location, the store and the size.
As far as i know, that Alshaya owns Mabani, correct me if i’m wrong, and its all about the contract.
It’s comes in this way.
More space, less money per unit.
More shops owns by one company, less money per unit.
So Carrefour won’t pay like Boots do (kickin’ example on the space).
so everything is possible. but everything must be reasonable somehow.
RETAIL rates in Kuwait:
High Street shop
$41.64 to $86.75 depending on location
Average is $64.20
We pay for our shop in Marina KD 3000 per month for 30 square meters.
Original retainer (sir kefliyeh) is KD 42,000
This is going to be interesting, thats for sure!
IKEA has in its immediate vicinity:
The One
Moroccan Furniture
Vanlian Furniture
how are they the only furniture store? theres the one and many other furniture stores..
mark the price i posted is the cheapiest you can get it now in avenues…im saying this coz i wanted to open a store..
Tiesto I know, but the prices I posted where for IKEA, Carrefour and Alghanim.
Boody: There is The ONE but a very tiny branch that sells mostly accessories. There is Vanillian that again sells mostly accessories, there is Zara Home which also sells accessories and there is this other store next to The ONE again which only sells accessories.
The parking should be done on a validation system, so only customers that made a purchase can have free parking. Good filtration, as used in many other countries. As for the rent differential, it is normal, the larger the store the lower the rent, its not a straight line rate. I think there is way too many competing stores under one roof, so someone will be hurt or everyone across the board.
From personal expirience, those guys running the Avenues are only good to run a bakala
Theres also Debenham’s Home
I’m sure Ikea and Carefour will develop a validation system like Equalizer said if they want customers to keep coming to them.
The anchor store rents are always a lot cheaper because they are meant to drive traffic to the mall. Avenues would lose thousands of visitors a day if they didnt have ikea and carefour, so it s win-win situation.
3.5KD for Square Meter !!!!! Nooooooooooo Way.
We pay 6KD per meter in a shity place in Kuwait City and it is just a stupid office.
I was at The Avenues yesterday evening and the queue to exit the underground park was just ridiculous….and this is on a weekeday!!!! What about the weekend, guys???? How do you think that’s gonna be???? Truly a shame for such a modern mall to have a backwards system like that…..
If they don’t improve the system, they lost me as a customer on weekends. That’s for sure.
Dont worry guy, Alghanim Furniture store will be closing soon. They have never been profitable since they first opened years ago at Safat Alghanim, and the CEO is highly unhappy with the new furniture store design and results. Expect an expansion of the Electronics section!
That is just messed up, Mark =P what’s wrong with you & mabane? anyways, this is retarded, after all its all politics, alghanim knows someone from the owners, talked him into opening a furniture store, the owner was like “3adi, mu meshkela, ma 3alaik amer…” then it ended up ignoring IKEA!
it unfiar comparing ikea and The One. Ikea sells cheap boring rubbish and The One sells overpriced but bit more unique rubbish
WOW, never thought that the information leakage I had given in my comments will create such discussion. I do believe that with all interested people let us find one of our friends inside MABANEE and verify those numbers and cases. We can always call in and check.
MARK: why don’t you call them tomorrow to check? You can act as a journalist since you have this lovely active blog.
Cheers.
Anchor stores drive traffic to mega malls, so yes, Ikea and Carrefour do pay peanut rent because without them the mall can’t survive as Pink Moon has mentioned. Its the same system anywhere in the world.
From Wikipedia:
“When the planned shopping mall format was developed by Victor Gruen in the mid-1950s, signing larger department stores was necessary for the financial stability of the projects, and to draw retail traffic that would result in visits to the smaller stores in the mall as well. Anchors generally have their rents heavily discounted, and may even receive cash inducements from the mall to remain open.”
I agree with Don Quixote
The Avenues is one of the most inefficient malls I have ever seen.
They don’t even have proper store directories within the mall, how are people supposed to know where certain shops are? Put a freaking map in your mall retards…..
And get your parking straightened out too!
Nawaf: I was there yesterday and I had this problem. I could not find the location since there is not proper information desk or proper directions/map. One more thing to add to your comment. Even the security (Kuwaiti wearing dress guys) is not capable to speak English or even know the stores which are usually require English speakers.
Yes, the conclusion is that the Avenues and most of the malls in Kuwait don’t have proper efficient operation team. They pay peanuts they gets monkey.
I agree, the information is invalid because there are several other furniture stores located at the avenues. Also, ID Design (Emporium) a store that concentrates on furniture and home accessories is opening a fairly big store in avenues right under the cinema.
986 that will be kinda difficult for ID Design since thats where Alghanims Complete Living is located…
The thing is as I mentioned previously, there are a handful of furniture stores but none have any furniture. Selling 1 bed or a few chairs doesn’t make them a furniture store. Only store that has a few items is The ONE and they have a very small quantity and their prices are more expensive then IKEA so they aren’t really competing.
Now Complete Living on the other hand has a style similar to The ONE, has a store thats pretty big and full of furniture AND their prices compete directly with IKEA. Thats why they are a problem.