
In 1968, at the age of 21, Arthur Weiner found himself wandering around America's newest gathering spot, the shopping mall, in search of "what's next." He wasn't entirely unexposed or unprepared as his father preceded him with a smattering of intercity Philadelphia shops known as Joy Hosiery Shops, a forerunner of Parke Lane Hosiery. DEB Shops was soon born out of the imagination of that 21-year-old young man. Only a smattering of stores across the country in 1968 had yet to focus on the junior customer, the post-World War II baby boomer. But Arthur Weiner saw an unrecognized, underserved shopping niche, the junior customer, young confident and bustling with energy.
The 60's were a time of music, décor, fashion, and hip salespeople. Arthur Weiner saw a need for a store where teens could be comfortable, secluded yet included. A place of their own. DEB grew and flourished, focusing on this new base of customers. A narrow bet but time would prove a good one, in fact, today, the junior customer is the mainstay of retail shopping.
By 1979 DEB had grown to 190 stores, no debt, and a bright future. Wall Street saw a good thing, and in 1980 the company went public. New challenges were awaiting.
Arthur Weiner Enterprises, ("AWE") was born in 1984, following the urging of fledging retailers wanting AWE to duplicate for them the same results of DEB. Among the success stories was Electronics Boutique, ("EB"). The alliance of AWE and EB would span some 18 years resulting in a chain of over 1200 stores from New Zealand to New Jersey, creating the world's largest retailer of computer software in the world. The early experiences of AWE in developing a whole new genre of ready to wear to the taking of a fledging electronics store to worldwide acceptance, evidences a unique retail mind. It is the practiced innovation of AWE from those early days to the present that stands out in a world of follow-the-leader. Innovation in the world of retail comes in short supply.
After EB, AWE continued to work with retailers and shopping center developers. It always seemed that AWE was presented the most challenging projects to lease, the ones requiring the greatest ingenuity. No matter the challenge, AWE intuitively realized that every property wants to be something; one just needs to listen very carefully.
A good example of these listening skills was the Village of Merrick Park. Merrick Park, situated in the upscale neighborhood of Coral Gables, Florida, had the unfortunate timing of coming on stream in the wake of September 11, 2001. It was a terribly challenging time in the shopping center world with retailers experiencing overall double digit sales decreases, and a dramatic decline in international travelers to the U.S. Initially, AWE had to nursemaid these retailers' fears, convincing them that the United States and the Miami market would once again shine as a top tourist destination. To add even more complexity to the leasing dilemma was Bal Harbour, located within 12 miles of Merrick Park and arguably the premier high end luxury center in the country. Bal Harbour featured all of the top luxury names, many with enforceable radius restrictions preventing them from opening in Merrick Park. The only early strength of Merrick Park was the commitments AWE obtained from Nordstrom's and Neiman Marcus.
In order to meet the challenges of the economy and Bal Harbour, AWE found it necessary to create a center of unusual fabric and texture, a center with unique tenants including Carolina Hererra, Canali and Etro. These stores added a more fashion forward feel than the typical luxury center. Convincing the top retailers in Bal Harbour that they had a market in both North and South Miami was the next objective. Through hard work and a trained retailer's eye, AWE was ultimately able to convince retailers who had, at first, outright rejected the center to reconsider. The ultimate retail mix was outstanding.