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Mall Operators Seeking Startup Retail Innovations

Mall Operators Seeking Startup Retail Innovations

Mall operators are looking to get in on the ground floor of retail innovation by investing in startups. Simon Venture Group, the venture capital arm of Simon Property Group, has invested in 18 startups over the past 15 months to the tune of $20M. Included among its investments is Union Station, an online bridesmaid’s dress rental service.  SVG invested $1M in the company and introduced the brand to other possible investors. Simon launched the VC fund last year as a way to get better access to startups. One of their startups, shopping-loyalty app Shopkick Inc., was acquired by SK Telecom Co. last year for $200M[WSJ]