Heritage of shopping centers (26) launches new chain of Norwegian shopping centers of Mandal in the south, to Svolvær in the north – Business



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The Alti chain will be one of the country's largest shopping center chains, with a total of 18 centers, from Mandal in the south, to Svolvær in the north, and a turnover of about NOK 8.6 billion.

– The new name plays so much on us ever must focus on the customer, at the same time, we will show that our shopping centers must have "All in", that is, it is not merely merchandising but much more than that, says CEO and co-owner Lars Ove Løseth (26)

It is not every year that Norway acquires a new shopping chain, and the timing is special, considering that the trade sector is under pressure across the country.

– There is a lot of negative journalism about retailing, but we had sales growth of about 1.2% last year and Thon had even more, says Løseth and adds:

"Yes, it's more turbulent, but it's not red, we need time to adjust."

Like the rest of the industry, Løseth wants to see how people look at shopping malls, and the goal is for the centers to connect with health and municipal services as well as entertainment and restaurants.

"While the engine in shopping malls continues to be sold, I think the word" buy "will be less important," says Løseth.

Heir to shopping

The family behind the Alti initiative is not new to the industry. Negotiation Nestor Lars Løseth senior has owned and operated shopping centers in the village of Surnadal in Møre og Romsdal since the early 1990s, and has collaborated with, among others, Olav Thon on the construction of the Amfi chain.

Since 2009, Løseth's family-owned company, LL Drift, has managed and managed shopping malls on its own after Thon bought the Amfi family. The centers, however, have retained the Amfi name so far.

– When we left the administrative cooperation with Olav Thon and Amfi, we could still use the Amfi name, but both we and the Olav Thon Group found that using the same name was more demanding when the administration was in different organizations. It looked good on paper, but it became difficult in practice, says Løseth junior.

He went on to finish his education in the Thon group before the Surnadal mall boom now take control of his father.

"The most important thing I learned from Olav Thon is long-term thinking," says the 26-year-old.

But it is the father who has really been responsible for training, explains young Løseth, who says he spent much of his childhood in his father's many shopping malls.

"But are you afraid to face skepticism like you are so young?"

"I did not feel anybody's skepticism, but there are many who ask me what it's like to be so young and embark on it. The real estate industry is an adult industry. I myself grew up in the malls and I have many crazy people around me.

Even if young Løseth takes over the operation, his father will still be involved as chairman of the board.

Along with him in jail, Løseth brings with him another experienced group, the Sørbøe family of Arendal, who owns 20% of the Alti chain.

Big investments in turbulent times

Last year, the big year of bankruptcies in the retail trade was where the company had to return to the financial crisis to see the same numbers. Many of the chains that reported offers had stores in the nation's malls, including PM, Simpler Life and Tilbords.

– Do you make big investments for a period many are skeptical about the industry?

"Yes, and that's exactly why we think this is a good window to make such investments. In the 1990s, the Amfi journey began because of problems in the economy of many centers, and since then has had a great trip. It is far from the same situation today, but there are many who want to sell, and we want to bet, says the young center.

Alti is the owner and manager of malls and will focus on the future, and believes that it can grow rapidly.

When the Johansson family, owner of Norgesgruppen, bought the Alna center, the Løseth family was brought in to run the center.

In addition to Alna, most centers are located in the districts.

Initially, 15 of its 18 centers will change their name, but the plan is to grow even more. Løseth expects them to get 20 centers in the Alti chain during 2019.

The goal is to reach the podium as the third largest shopping center in the country, dividing pallets with the Scala network.

The case continues under the announcement.

Daily managers estimate that there are now about 50 non-chain centers in Norway, and they are open arms with the cattle for the cooperation of those who want it.

Young blood

The headquarters of the Alti network will be located in Surnadal, where the Løseth family has always been based.

The 26-year-old singer believes it is not a problem building a shopping mall company across the country in a small settlement in western Norway.

"We also have the internet in Surnadal, and we should look for a place with so much knowledge in malls a long time ago," says Løseth.

Løseth believes that he and Alti employees can contribute new ideas in an industry that is not known for the greater pace of innovation, but for security and the long term.

– I think it's healthy with a new view of many things. Although something has worked for a long time, it does not mean it has to be this way forever.

"So you think the real estate industry needs some young blood?"

– Yes, I think so. It's an industry with a lot of knowledge and experience, but it's good to bring new ideas at a time like this, says Løseth.

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