Winning back hearts and minds
Home of the infamous racetrack from The Italian Job, the once bustling 8 Gallery Lingotto was looking tired. Changes in consumer behaviour and increased competition had seen the scheme under-perform for some years and an alarming vacancy rate was compounding the problem further.
Having worked with Pradera for several years, they appointed BWP to help out with revitalise this Italian landmark and position it for future success.
Once appointed by Pradera, BWP set to work by commissioning catchment research and competitive mapping to quantify the market opportunity for the scheme. The researched showed that whilst the F&B offering was a strength, the retail vacancies were impacting spend conversion and as a result the catchment was shrinking. The top priority was therefore to address the leasing issue by creating a new story to reinvigorate the scheme.
BWP was responsible for the repositioning of the brand, including a creating new name and value proposition alongside the creation of a striking brand identity. The total brand repositioning exercise saw the project team get under the skin of the scheme and the local catchment.
It started with a stakeholder workshop that BWP ran to ascertain what shortcomings there were with the product. It appeared basic needs were catered for, but the experience and atmosphere were lacking. To address this the vision and proposition that were developed focused around a unique metropolitan location housing a mix of independent and global brands, an art gallery, exhibition space and hotel to create an experience like no other. This would regain Lingotto’s place as a focal part of the city.
Following the brand development work, BWP developed a suite of collateral to help create a leasing story to take to prospective tenants, investors and business critical partners.
Working with a complex client structure including teams in different countries called for expert communications and the ability to distil the noise into a focused strategy. That strategy is now bearing fruit with a raft of tenants signing up and investment being secured to further develop the scheme which will ultimate help in increase the catchment and performance of the scheme.
The brand strategy resulted in positive changes in perception, both locally and within the retail industry. It acted as a catalyst for leasing, creating a reinvigorated desire for brands being associated with the scheme. Occupancy rate shot up 21% and several major anchor tenants were secured.
Since relaunch the scheme continued to trade ahead of its business plan, resecuring its position as a focal point for the city.