Brookfield Revives GGP Brand to Enhance Retail Partnerships

Brookfield Corporation has announced the revival of the GGP brand, a strategic move aimed at enhancing its interactions with retailers and other stakeholders in the shopping center industry. This decision comes as Brookfield seeks to streamline its operations and cater more effectively to the needs of its retail partners.

In 2018, Brookfield acquired the remaining 70 percent of GGP, a prominent operator of shopping centers in the United States, taking the company private and renaming it. The company had previously led GGP out of bankruptcy in 2010. While GGP has functioned as a subsidiary of Brookfield, the reintroduction of its name is set to help the company better navigate its corporate relationships.

Kevin McCrain, Chief Executive Officer of GGP, noted that the original brand name has remained well-known among retailers and customers alike, despite the official name change. “Consumers probably didn’t notice the brand change, but the retail brands and fashion brands all knew there was a name change,” he told Women’s Wear Daily. He added that even after the transition to Brookfield, many continued to refer to the company as GGP due to its long-standing history.

The decision to revert to the GGP name aims to leverage that established brand recognition. McCrain explained that this change allows GGP to operate with greater agility and a focused strategy, enabling the company to remain relevant in today’s rapidly evolving retail landscape. “This renewed structure provides greater flexibility for GGP to operate with enhanced agility and tailored strategies,” he stated.

GGP’s portfolio includes over 100 shopping centers, featuring notable locations such as Ala Moana in Honolulu, Oakbrook Center outside Chicago, and The Shops at Merrick Park in Coral Gables, Florida. Each center is instrumental in GGP’s efforts to create exceptional shopping experiences for consumers and strong partnerships with retailers.

Despite the branding change, McCrain assured that there will be no disruptions to daily operations. The existing team will continue in their roles, focused on delivering high-quality service to GGP’s tenants and shoppers. This commitment underscores GGP’s goal of maintaining its core mission while adapting to market demands.

In addition to revamping its brand, GGP will also enhance its marketing strategies. Brookfield has traditionally hosted a two-day conference for retailers, known as Brookfield Next, aimed at strengthening partnerships within the retail community. With the rebranding, GGP can promote this event under its own name, ensuring it stands out in a competitive landscape.

Brookfield Corporation remains a significant player in the real estate market, owning and managing various retail spaces, particularly within mixed-use developments. For instance, Brookfield Place in lower Manhattan incorporates 8 million square feet of office space alongside 300,000 square feet designated for retail, while Manhattan West features 5 million square feet of office space and additional amenities.

The revival of the GGP brand reflects Brookfield’s understanding of the importance of brand identity in the retail sector. By re-establishing GGP as a distinct entity, the company positions itself to respond more effectively to the needs of its partners, customers, and communities, while still benefiting from the extensive resources of the Brookfield Corporation.