Going global: PropTech startup Sook launches first international retail space with Mall of Africa
Sook, which takes vacant retail spaces and gives them a modular, digital fit-out which can be rented by the hour, has announced a partnership with Mall of Africa (MoA).
This opens the doors for brands to lease UK-based Sook’s rentable space within the MoA’s complex in Johannesburg, South Africa.
The move represents the company's debut into international markets and its first design, commercial, technology assets and business model license agreement.
The lease is secured for a minimum of five years, during which Sook has committed to providing ongoing assistance in revenue generation and technical support.
“We couldn’t be more excited to bring Sook to the African market, and Mall of Africa serves as the perfect launchpad for its ground-breaking concept. It offers a fresh and dynamic solution for brands seeking flexible retail spaces, and we believe it will be a game-changer for ambitious entrepreneurs aiming to stand out in the market," says Yasmeen Lorgat, Leasing Manager at Mall of Africa.
“With Sook, the retail space rental process has never been easier, empowering brands to create captivating shopper experiences. From customisable modular furnishings to engaging digital features, it equips brands to make an unforgettable impact.”
Tom Price, Head of Site Acquisition at Sook, comments: “Our collaboration with MoA marks a significant step forward in reinvigorating the global retail landscape. This agreement isn't just about spaces; it's about creating one of a kind, immersive experiences that resonate with South African shoppers.”
“Together, we envision a powerful fusion of MoA's renowned reputation and our innovative model, enabling us to create entirely new and captivating shopping experiences.”
“Sook spaces cater to pop-ups, experiential marketing, and product launches, this agreement opens doors for more South African businesses to make their mark in one of the most sought after retail spaces."
2022 RTIH INNOVATION AWARDS
Sook emerged victorious at the 2022 RTIH Innovation Awards in December, picking up the Bricks and Mortar Innovation gong.
Our 2022 winners were revealed at a sold out event in central London on Tuesday, 6th December.
Our judging panel said of Sook: “There aren’t many things more depressing than empty shops on a high street, especially when it’s at odds with the number of innovative SMEs desperate for a bricks and mortar base to interact with customers.”
“Sook realised this demand for physical space hadn’t gone away, it just needed to solve the disconnect between brands and landlords while making it quick, easy and cost-effective for those brands to create a bespoke space.”
“As well as enhancing local communities and economies with these immersive pop-ups, it gathers analytics for its occupiers, allowing them to best understand how to use physical space as efficiently and effectively as possible.”
“Sook also claims to have placed great importance on sustainability with its offsite modular construction typically producing 30% less CO2 compared to a traditional shop fit and powering all its units using 100% renewable energy providers.”
“Finally, it’s not just SMEs working with the company – Uber, Mastercard, Facebook, SumUp, Hard Rock, Tik Tok, Jagermeister, Depop and Raspberry Pi all have also sought it out as a solution for enabling physical spaces to thrive via innovative technology.”
RTIH Editor, Scott Thompson, said: “Innovation and technology play a critical role in the success of the retail sector, so it is great to recognise standout examples through our awards.”
“Thanks to all those who entered the 2022 event. We received a record number of submissions and many fantastic examples of the continued resilience and dynamism of the retail space during hugely challenging times.”
“Congratulations to our 2022 retail technology hall of fame entrants.”
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