Westfield co-CEO talks about how he's adapting to change
LAS VEGAS (AP) — The co-CEO of Westfield Corp., one of the world's largest mall operators, said that shopping centers have to act more like technology companies in order to be relevant to the fast-changing consumer.
In its new soon-to-be opened World Trade Center mall, Westfield has worked with Ford Motor Co. to build a so-called Ford Hub, which serves as an innovation showroom, though shoppers will not be able to buy cars.
Lowy told the audience that he is also seeing an increasing cultural change among retailers to start sharing data once deemed as confidential about their customers with shopping centers.