The Ravel by CF initiative comes at a challenging time for shopping centre landlords in Canada, as retailers close stores and international brands continue to enter the already crowded market. The word ‘Ravel’ is a derivative of the word ‘unravel’ — some are saying that the industry is ‘unraveling’ and Cadillac Fairview is looking to ‘bring it back together’ with Ravel’s goal to create positive consumer experiences not currently available at other shopping centre properties.
Cadillac Fairview Executive Vice President Jose Ribau is leading the Ravel business entity which is described as being “a highly integrated operating model that both disrupts and gives support to the industry from within”. Ravel’s data-driven model is agile with the capability to capitalize on market trends, while at the same time being able to respond quickly to evolving needs of consumers, retailers and office clients.
Cadillac Fairview’s aim is to ultimately improve the retail sales conversion for its retailers. Mr. Ribau explained how the landlord has a role in helping physical stores be profitable, and Ravel is able to do that by educating consumers about retailers and products available, while at the same time removing friction points that might otherwise lead to negative consumer experiences. As a result, Cadillac Fairview malls may become preferable to those of competitors.