Hardcover: 304 pages
Publisher: St. Martin's Press; First Edition edition (August 19, 2008)
Language: English
ISBN-10: 0312359039
ISBN-13: 978-0312359034
Product Dimensions: 6.4 x 1 x 9.5 inches
Shipping Weight: 1 pounds (View shipping rates and policies)
Average Customer Review: 5.0 out of 5 stars See all reviews (6 customer reviews)
Best Sellers Rank: #126,859 in Books (See Top 100 in Books) #46 in Books > Business & Money > Economics > Commerce #386 in Books > Business & Money > International #1130 in Books > Business & Money > Small Business & Entrepreneurship > Entrepreneurship
In LE DEAL, real-estate developer Bynre Murphy relates his struggle to extend an American retail innovation -- outlet malls offering iconic apparel brands at deep discounts -- to a skeptical and change-averse Old World.Murphy's saga is set in motion by the savings and loan crisis that devastated the US commercial real-estate market in 1992. His small but successful Washington, DC-based development company was wiped out, and Murphy and his boss find themselves clinging to the only asset their company retains -- licensing rights to open McArthur Glen retail outlet centers in Europe.As Murphy explains to a long succession of French mayors, councilmen, administrators, and permit-granters, McArthur Glen has a stellar track record in the US, and its concept will be "win-win-win" in France:- French shoppers will get 40-60% discounts on sought-after brands like Versace, Nike, Gucci, and Calvin Klein;- the brands will be able to monetize their end-of-season inventory instead of writing it off; and- the downtown merchants and restaurants will benefit from shoppers visiting from afar who need a place to refuel and buy what they couldn't find at the outlet. It's a no-brainer, right?Umm... non.As the presentations, setbacks, hearings, and appeals drag on for months, Murphy begins to understand the true nature of what he and McArthur Glen are up against as they try to gain a foothold in France. Any new business concept is viewed first and foremost as a threat to the established commercial order, and only vaguely and secondarily as an opportunity. As the author explains, in France it's all about job preservation, not job creation.
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