Simon Property Group is joining efforts with Leap to bring digitally native brands to shopping malls.
Four store openings are initially planned: True Classic Tees in Los Angeles' Del Amo Fashion Center and ThirdLove, Sugarfina and Goodlife in Florida's Town Center at Boca Raton, Fla.
The Leap platform uses data, systems, and scale to launch and operate omnichannel-enabled retail stores for modern brands.
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It abstracts key elements required for successful omnichannel retail, including real estate, design, operations and technology and aims to deliver memorable shopping experiences that build customer loyalty.
Simon was among investors in Leap's Series B raise.
Zachary Beloff, vice president of leasing at Simon, said in prepared remarks, "With the speed and nimbleness of the Leap model, the expansion process has been streamlined immensely.
"It is our hope that by working together we will continue to both incubate brands as well as help them expand throughout our portfolio where they can reach hundreds of millions of their target consumers annually."
Today, Simon operates or has an ownership interest in more than 250 premier retail destinations around the world and Leap is powering 60 brands across nearly 100 stores.
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