1. 08
ANNUAL REPORT
feelestate.de
THE THIRD PLACE
9 783000 245381
Where people feel comfortable p. 32
More topics: When shops tell stories p. 10 | The modern shoppers
from tomorrow p. 18 | Shopping centers between form and function p. 44

2. OUR VALUES – OUR GOALS
VALUES We are the only public company in Germany that invests solely in shopping centers in prime locations. We invest
only in carefully chosen properties. High quality standards and a high degree of flexibility are just as important to
us as sustained earnings growth from index- and turnover-linked rental contracts. In addition, we boast a higher
than average occupancy rate of around 99% and professional center management - these are the pillars of our
success.
GOALS Deutsche EuroShop does not seek short-term success, but rather long-term growth and the resulting stable
increase in the value of our portfolio. Our objective is to distribute an attractive dividend to our shareholders
every year from secure long-term income. In order to achieve this, we shall acquire further prime properties and
hence establish ourselves as one of the largest companies in Europe focusing on retail properties.

3. 3
CONTENTS
INTRODUCTION
Mission / Vision
Key data
04 Foreword by the Executive Board
06 Report of the Supervisory Board
SHOPPING 08 p GROUP MANAGEMENT
08 Survey amongst visitors in the Altmarkt-Galerie Dresden REPORT 80 p
10 When shops tell stories – designers create worlds
81 Business and economic conditions
of brands
85 Income, financial and net assets situation
14 Shop design – interview with Viola Raeder, Architect
91 Environment
16 Center TV – innovative infotainment
91 Events since the end of the interim reporting period
with an advertising effect
91 Risk report
18 Healthy shopping – the modern shoppers of tomorrow
94 Outlook
21 “What I bought for myself in 2008”
22 Movie tip – “Shopaholic“
23 Book tips
CONSOLIDATED
THE SHOPPING CENTERS 24 p FINANCIAL STATEMENTS 96 p
24 Our shopping centers 98 Balance sheet
30 Shopping as an experience – a selection of the diverse 100 Income statement
activities in our centers 101 Cash flow statement
32 The third place – where people feel comfortable 102 Statement of changes in equity
38 The 200 colour shades of Stadt-Galerie Passau 104 Notes
42 Passau – the Venice of Bavaria 139 Auditor‘s report
44 Between form and function: integrating
shopping centers into a city
48 Sustainability beyond symbolism
SERVICE 140 p
52 The shopping centers in detail 140 Reader‘s letters
141 Index
INVESTOR RELATIONS 64 p 142 Glossary
64 The Shopping Center Share 144 Legal
69 Events Multi-year-overview
70 Stock market in 2008 Financial calendar 2009
72 Roadshows and conferences Reader‘s service
74 Marketing
76 Corporate Governance

4. DEUTSCHE EARNINGS PER
SHARE
EUROSHOP
OVERVIEW
2.00 3
TARGET-PERFORMANCE COMPARISON
REVENUE EBIT EBT* * excluding measurement gains and losses
RESULT
49.9
RESULT
98.1
RESULT
115.3
TARGET TARGET TARGET TARGET TARGET TARGET TARGET TARGET TARGET
113 –115 125 –128 128 –131 93 – 95 105 –108 109 –112 45 – 47 50 – 52 53–55
2008 2009 2010 2008 2009 2010 2008 2009 2010
KEY DATA
1 million 2008 2007 Change
Revenue 115.3 95.8 20%
EBIT 98.1 78.5 25%
Net finance costs -48.2 -39.6 -22%
EBT 87.0 77.8 12%
Consolidated profit 68.9 94.2 -27%
Earnings per share (1) 2.00 2.74 -27%
FFO per share (1) 1.45 1.12 29%
Equity* 977.8 974.0 0%
Liabilities 1,029.1 1,002.3 3%
Total assets 2,006.8 1,976.3 2%
Equity ratio (%)* 48.7 49.3
LTV-ratio (%) 46.0 47.0
Gearing (%)* 105 103
Cash and cash equivalents 41.7 109.0 -62%
Net asset value 942.8 925.1 2%
Net asset value per share (1) 27.43 26.91 2%
Dividend per share (1) 1.05** 1.05 0%
* incl. minority interest ****Durchschnittszinssatz
*Duration (Jahre) / proposal

5. 5
2008 JANUARY
Deutsche EuroShop once more over- • Expansion of Altmarkt-Galerie in Dres-
HIGHLIGHTS all winner of BIRD survey ( Best Inves- den decided − 150 million investment.
tor Relations Germany) by the investor
magazine Börse-Online. • Deutsche EuroShop wins the Capital
Investor Relations Prize 2008 in
MARCH the MDAX category.
Grand opening of Stadt-Galerie Hameln
JUNE SEPTEMBER
• Annual General Meeting on 19 June 2008 Grand opening of Stadt-Galerie Passau.
and distribution of a dividend of 11.05
per share.
COVER PICTURE:
The cover picture shows the Stadt-Galerie
Passau, which opened on 10 September
2008. Further information, e.g. on the unique
facade of this center, can be found starting
on page 38. In addition, we have compiled
some interesting tips for you on pages 42 – 43
which provide some suggestions should you
wish to visit Passau.
OUR CENTERS
AS OF 2008
1. Sulzbach
2. Viernheim
3. Dresden 13
4. Hamburg 4
5. Hamm
8
6. Wetzlar 12 POLAND
5
7. Dessau GERMANY 7
10 9
8. Wolfsburg 3 16
6
9. Kassel
1
10. Wuppertal
2
11. Passau
11
12. Hameln
AUSTRIA
13. Gdansk 14 HUNGARY
14. Klagenfurt 15
15. Pécs
16. Wroclaw

6. FOREWORD BY THE
EXECUTIVE BOARD
CLAUS-MATTHIAS BÖGE
Dear Shareholder s and Friends,
d by one word in particular:
capital markets remain dominate
The headlines of the international situation. The transaction
ent of any sustained relief of the
crisis. There is still no sign at pres continent declined in 2008 and
ping centers on the European
volume for investments in shop
the market came to a virtual standstill.
achieve all its business tar-
e EuroShop managed not only to
Despite this environment, Deutsch this is made up of our outs tand-
solid foundation enabling
gets but even to exceed them. The pean
ted in prime locations in four Euro
ing shopping center port folio. The 16 centers are situa
.
rating long-term secured earnings
countries, are fully let and are gene
on in 2008 and ultimately
nue of 1110 million to 1113 milli
We conservatively predicted reve before
esented a year-on- year increase of 20% . Earnings
achieved 1115.3 million, which repr 195 milli on but instead
cast to lie between 193 million and
interest and taxes (EBIT) were fore ) without measurement
expe cted earnings before taxes (EBT
rose by 25% to 198.1 million. We the day these increased to
on and 147 million. At the end of
gains/los ses of between 145 milli
to grow th of 29% .
149.9 million, which is equivalent
that we do not normally fore -
ment gains and losses and taxes
Taking into account the measure on to 168.9 million.
d by 27% from 194.2 milli
cast, consolidated prof it decrease
ed itself in the real estate
key statistic that has now establish
You will find in our reporting a new ned as the cash flows from
or FFO for shor t. The FFO is defi
business : funds from operations nts in exis ting properties, sche -
to finance ongoing investme
operating activities and is used distribution of dividends. In 2008
, an
duled payments on our long-term bank loans and the
5 million or 11.12 per share
share was posted, up from 138.
FFO of 149.8 million or 11.45 per
in the previous year. OLAF G. BORKERS
e from operations as against
from several sources: 11.13 cam
Earnings per share were derived from the valuation of the
. A further 10.87 per share resulted
10.94 in the previous financial year 12.74 to 12.0 0 albeit that in
Total earnings per share fell from
shopping centers (2007: 10.94). 6 per share from the reversal of
d additional earnings of 10.8
the previous year they containe e tax reform.
deferred tax provision s in connection with the corporat
as at 31 December 2007 to
pany rose from 1925.1 million
The net asset value of our Com increase of 117.7 million and a net
. This is equivalent to an
1942.8 million at the end of 2008
asset value per shar e of 127.43.
now productive. In March
s in 2008, our entire port folio is
After celebrating two new opening followed by Stadt-Galerie Pas-
and in September this was
we opened Stadt-Galerie Hameln our new
outset as was the case with all
sau. Both were fully let on a long-term basis at the
openings in the past.

7. 5
On the investment side we rem
ained restrained and only carried
out selected activity:
– Dresden’s Altmarkt- Galerie, in
resden which we have a 50% share, is to
or 18 000 m2 of retail space by early
18,0 00 be expanded by almost 70%
f 2011 for a total sum of 1 150 milli
90 new shops will be located here on. Altogether around
.
– At the start of 2009, we incre
ased our stake in City-Point Kass
ding the liabilities acquired, the el from 40% to 90% . Inclu-
investment volume came to som
the year around 7,00 0 m2 of reta e 153 million. By the end of
il space is to be revamped for eigh
City-Point Kassel will then have t new speciality shops.
around 70 speciality shops, cafe
space will remain unchanged at s and restaurants. The retail
roughly 20,0 00 m2 and the area
has already been fully let out. undergoing reconstruction
Our share coped comparatively
well with the extremely difficult
started the year at 123.50 and clos year on the stock markets. It
ed slightly up at 124.30. Taking
distribution of 11.05 per share, into account the dividend
the performance of the Deutsch
annualised 7.9% . Compared with e EuroShop share came to an
our European competitors we were
performers and achieved the four therefore one of the top
th best result worldwide.
More and more companies are takin
g a very cautious stance in their pred
our business is predictable, stab ictions. However, since
le and laid out on a long-term basi
a glimpse into the future and cite s, we are prepared to venture
some key figures that we intend
to take as a benchmark:
– For the 2009 financial year, we
are anticipating revenue of betw
million. In the 2010 financial year een 125 million and 128
revenue should increase to betw
million. een 128 million and 131
– We forecast earnings before inter
est and taxes (EBIT) in the curr
million and 108 million and risin ent year of between 105
g to between 109 million and 112
million in 2010.
– We expect earnings before taxe
s (EBT
Michael ) excluding measurement gains/los
50 million and 52 million Dr.2009 Gellen, Manfred Zaß, Alexander Otto, ses to be between
fr. left: Thomas Armbrust,
in and between 53 million and 55
Claus-Matthias Böge, Dr. Bernd Thiemann, Olaf G. Borkers, Dr. Jörn Kreke
million in 2010.
– We expect funds from operatio
ns of between 1.45 and 1.50 and
of between 1.55 and 1.60. in the 2010 financial year
0 r
We intend to maintain our long
-term dividend polic y geared towa
basis of the forecast outlined abov rds continuit y and on the
e expect to distribute a dividend
shareholders again in 2009 and of 11.05 per share to our
2010.
We would like to thank you for your
conf idence in Deutsche EuroShop
if you remain loyal to us in the futu and would be pleased
re.
Hamburg, April 2009
Claus-Matthias Böge
Olaf G. Borkers

8. On the investment side we rem
ained restrained and only carried
out selected activity:
– Dresden’s Altmarkt- Galerie, in
which we have a 50% share, is to
or 18,0 00 m2 of retail space by early be expanded by almost 70%
2011 for a total sum of 1 150 milli
90 new shops will be located here on. Altogether around
.
– At the start of 2009, we incre
ased our stake in City-Point Kass
ding the liabilities acquired, the el from 40% to 90% . Inclu-
investment volume came to som
the year around 7,00 0 m2 of reta e 153 million. By the end of
il space is to be revamped for eigh
City-Point Kassel will then have t new speciality shops.
around 70 speciality shops, cafe
space will remain unchanged at s and restaurants. The retail
roughly 20,0 00 m2 and the area
has already been fully let out. undergoing reconstruction
Our share coped comparatively
well with the extremely difficult
started the year at 123.50 and clos year on the stock markets. It
ed slightly up at 124.30. Taking
distribution of 11.05 per share, into account the dividendd
the performance of the Deutsch
annualised 7.9% . Compared with e EuroShop share came to an n
our European competitors we were
performers and achieved the four therefore one of the top
p
th best result worldwide.
More and more companies are takin
g a very cautious stance in their pred
our business is predictable, stab ictions. However, since
e
le and laid out on a long-term basi
a glimpse into the future and cite s, we are prepared to venture e
some key figures that we intend
to take as a benchmark:
– For the 2009 financial year, we
are anticipating revenue of betw
million. In the 2010 financial year een 125 million and 128 8
revenue should increase to betw
million. een 128 million and 131
– We forecast earnings before inter
est and taxes (EBIT) in the curr
million and 108 million and risin ent year of between 105
g to between 109 million and 112
million in 2010.
– We expect earnings before taxe
s (EBT ) excluding measurement
50 million and 52 million in 2009 gains/los ses to be between
and between 53 million and 55
million in 2010.
– We expect funds from operatio
ns of between 1.45 and 1.50 and
of between 1.55 and 1.60. in the 2010 financial year
We intend to maintain our long
-term dividend polic y geared towa
basis of the forecast outlined abov rds continuit y and on the
e expect to distribute a dividend
shareholders again in 2009 and of 11.05 per share to our
2010.
We would like to thank you for your
conf idence in Deutsche EuroShop
if you remain loyal to us in the futu and would be pleased
re.
Hamburg, April 2009
Claus-Matthias Böge
Olaf G. Borkers

9. 9
ia s Bö ge, C EO
C la us -M at th
uary 1959 tion
on
born 13 Febr es s administra
pleting a busin vat--
clerk and com Düs seldor f-based Privat
ing as a bank in 1987 at the
Af ter succes sfully qualify career which he was made
profes sional His work, for
ge began his Acquisitions. m-sized
ze
degree, Mr. Bö in Mergers & all and mediu
Burkhardt advising sm
bankha us Trinkaus & , focused on
natory) in 1989 uity interest s.
uthorised sig panies and eq
a Prokurist (a d selling com
buying an nik GmbH, a
subsi- -
companies on KST Stahltech
anagement of where he was a
was appointe
d to the m nologie AG,
oup VA Tech ts.
t
In 19 90, Mr. Böge ns truc tion gr inis trat ion departmen
strial plant co l, ta x and adm
diar y of the AuA strian indu rsonnel, lega & Co. KG in H
am-
m
for the finan cial control, pe ent G.m.b.H.
responsible
si E Proj ek tmanagem ing and g-ter
long-term
moved to EC alisation, leas
93, Mr. Böge velopment, re with the world
he
In autumn 19 ader for the de me fascinated
, the Europe an market le he first beca bsidiaries in th t e
burg he
centers. It w as here that sitions at su
of shopping anagement po prof itabi lit y opti-
ty o
management
e e to a series of
m
and ongoing
s. In addition ning, financing
pping center
of shopping concept plan
focused on
o p, s work
ECE group hi ts.
op er ty investmen 01.
misation of pr
on in October 20
e EuroShop AG
ar d of Deutsch
e Executive Bo
öge j ed th
Mr. Böge join n.
and ha s two childre
He is married
r
Bo er s, C FO
O la f G . B rk
ber 1964 as
born 10 Decem
b rn rkers qualified
l Nav y, Mr. Bo
erman Federa inistration in
on
er with the G studied busin
es s adm
as a ships of fic 1990. He then eutsche Bank
AG
Af ter serving
r
e Bank AG in analys t for D
with Deutsch d as a credit AG, Ham-
a bank clerk
c
, Mr. Borkers
worke
sit z und Bete
iligungs-
n. From 1995 RSE Grundbe the Execu-
Frankfur t/ Mai 98, he joined appointed to
kfur t and Ham
burg. In 19 r. Borkers was and Hamburg
,
in Fran utive Boar d. In 1999, M Tegernsee
ta nt to the Exec und Bete iligungs-AG, r 20 05. In addi-
I ddi
burg, as as sis e Immobilien til Septembe
TAG Tegernse or relations un in the TAG
tive Board of le for finan ces and invest positions with
was responsib anagement
where he ry Board and m
us Superviso
ers held vario
tion, Mr. Bork
.
Group. October 20 05
roShop AG in
d of Deutsche Eu
ecutive Boar
s joined the Ex
Olaf G. Borker child ren.
and has two
He is married

10. 6 DES AR 08 INTRODUCTION
REPORT OF THE SUPERVISORY BOARD
DEAR SHAREHOLDERS,
During the 2008 financial year, the Supervisory Board performed MEETINGS
the duties incumbent on it according to the law and the Articles
of Association and closely followed the performance of Deutsche During the 2008 financial year, four regularly scheduled and one
EuroShop AG. The strategic orientation of the Company was coor- extraordinary Supervisory Board meetings took place. No Super-
dinated with the Supervisory Board and the progress of strategy visory Board member participated in less than half of the Super-
implementation discussed at regular intervals. The Supervisory visory Board’s meetings.
Board monitored and advised the Executive Board in its manage-
ment of the business. The Executive Board informed us regularly, In the extraordinary meeting on 24 January 2008, the Executive
promptly and in detail of business developments. Board presented two development projects to be implemented
through joint ventures. The Supervisory Board granted its appro-
FOCUS OF ADVISORY ACTIVITIES val of these transactions. The higher development risk and the
importance of these projects for the strategy of the Company in
We examined our Company’s net assets, financial position and particular were discussed in this context.
results of operations, as well as its risk management, regularly and
in detail. In this context, we checked that the formal conditions In the first planned meeting on 17 April 2008, the annual review
for implementing an efficient system of monitoring our Company of efficiency of the Supervisory Board was completed and the
were met and that the means of supervision at our disposal were agenda for the Annual General Meeting approved. In this con-
effective. We were informed on an ongoing basis of all significant text, we selected the auditor who was proposed to the sharehol-
factors affecting the business. ders for election. With regards to the audit of the annual finan-
cial statements, we once again attached great importance to the
Our discussions focused on the development of the portfolio explanations of the Executive Board and those of the auditor on
properties, their sales trends, outstanding accounts, occupancy the real estate appraisals. The report of the Executive Board on
rates, construction measures and liquidity as well as investment the spot checks by the German Financial Reporting Enforcement
cost trends for our new development projects. Panel completed in March 2008 and the statements of the audi-
tors and the Executive Board on the effects of the German busi-
Particularly intensive and repeated discussions with the Executive ness tax reform were also addressed.
Board focused on the Company’s strategy in light of the turmoil on
the capital markets. In these discussions, the Executive Board also In the meeting on 19 June 2008, the first action was to elect the
presented various investment options to the Supervisory Board. undersigned once again as Chairman of the Supervisory Board
and Dr. Gellen as Deputy Chairman pursuant to Section 107 of
Other current topics were discussed by the Chairman of the Super- the Aktiengesetz (AktG – German Public Companies Act). Regular
visory Board and the Executive Committee of the Supervisory elections of members of the Supervisory Board took place in the
Board together with the Executive Board as required. Transac- Annual General Meeting concluded prior to this. In addition to a
tions requiring the approval of the Supervisory Board were dis- discussion of business development, we also passed a resolution to
approve the expansion of Altmarkt-Galerie in Dresden.
“PARTICULARLY INTENSIVE AND REPEATED In the third meeting on 18 September 2008, we discussed
DISCUSSIONS WITH THE EXECUTIVE BOARD in depth the possible impact that dwindling economic pro-
spects might have on our Company. The Executive Board
FOCUSED ON THE COMPANY’S STRATEGY IN also presented a shopping center in Germany as an invest-
LIGHT OF THE TURMOIL ON THE CAPITAL MAR- ment opportunity. The Executive Board also informed us
KETS.” that one of the development project joint ventures appro-
ved in January was not realised because the necessary land
had been bought by a competitor.
cussed and resolved in meetings held according to plan. In addi-
tion, for transactions of the Executive Board requiring approval, In the last meeting on 25 November 2008, the Executive Board
an extraordinary meeting of the Supervisory Board and two con- presented its ideas on increasing the investment in City-Point in
ference calls of the Executive Committee were held and circular Kassel. The Supervisory Board discussed this investment and gave
resolutions were passed in writing. All resolutions of the reporting its approval for pursuing this opportunity further. In view of the
period passed unanimously. approaching end of the year, the Executive Board reported to us
on its assessment of the real estate portfolio appraisal. In consi-

11. deration of the worsening outlook for the retail sector, we moni- The documents relating to the financial statements, the auditor’s
tored the statements of the Executive Board on the revenues of reports and the Executive Board’s proposal for the appropria-
our tenants and the outstanding rents in our shopping centers tion of the unappropriated surplus were presented to us in good
more closely than ever. Because of the general scepticism about time. The auditor elected by the Annual General Meeting on 19
retail trends, we will continue to watch these figures in a timely June 2008 – Hamburg-based BDO Deutsche Warentreuhand AG
fashion in order to assess their impact on our Company and initi- Wirtschaftsprüfungsgesellschaft – had audited the previous sets
ate countermeasures at an early stage. of financial statements and issued an unqualified audit opinion in
each case. The auditor also confirmed that the accounting poli-
An extensive discussion also ensued on the projection and medium- cies, assessment and consolidation methods in the consolidated
term performance planning of the Company presented by the Exe- financial statements complied with relevant accounting provisions.
cutive Board. In addition, the auditor determined in the course of his assess-
ment of the risk management system that the Executive Board has
COMMITTEES undertaken all required measures pursuant to Article 91 (2) of the
AktG in order to identify risks promptly which could jeopardise
The Supervisory Board has formed two separate committees, an the continued existence of the Company.
Executive Committee and an Audit Committee, each with three
members. We consider this to be appropriate, given the size of the The auditor’s representatives took part in the discussion on the
Company and the number of Supervisory Board members. During annual financial statements and the consolidated financial state-
ments on the occasions of the Audit Committee meeting
on 7 April 2009 and the Supervisory Board meeting on
“IN THE LAST MEETING ON 25 NOVEMBER 23 April 2009 and explained their main findings.
2008, THE EXECUTIVE BOARD PRESENTED
ITS IDEAS ON INCREASING THE INVESTMENT Following its own examination of the annual financial state-
ments of Deutsche EuroShop AG, the consolidated finan-
IN CITY-POINT IN KASSEL.” cial statements and the management reports appertaining
thereto, the Supervisory Board did not raise any objec-
the reporting period, both committees met on 9 April 2008, with tions, agreed with the findings of the auditor’s examination and
the Executive Committee of the Supervisory Board also convening approved the annual financial statements of Deutsche EuroShop
in conference calls on 15 April 2008 and 17 December 2008. AG and the consolidated financial statements. The annual finan-
cial statements have thus been adopted. The Supervisory Board
CORPORATE GOVERNANCE endorses the Executive Board’s proposal for the appropriation of
the unappropriated surplus.
In December 2008, together with the Executive Board, we issued
an updated declaration of conformity with the recommendations The adverse environment for the real estate sector persisted
of the government commission pursuant to Article 161 of the during financial year 2008 and was worse still than the previ-
Aktiengesetz (AktG – German Public Companies Act) and made ous year. The Company’s conservative strategy has continued to
this permanently available on the Deutsche EuroShop website prove successful.
in December 2008. A separate report on implementation of the
German Corporate Governance Code is included in this Annual The positive development of our Company in this environment
Report. The members of the Supervisory Board and the Execu- is also a result of the dedication of the Executive Board and our
tive Board declared in writing at the beginning of 2009 that no employees. The Supervisory Board would like to express its grati-
conflicts of interest occurred. tude for this to the Executive Board and to the employees.
FINANCIAL STATEMENTS OF DEUTSCHE
Hamburg, 23 April 2009
EUROSHOP AG AND THE GROUP FOR THE
PERIOD ENDED 31 DECEMBER 2008
At the Audit Committee meeting on 7 April 2009 and the Super-
visory Board meeting on 23 April 2009, the Audit Committee and Manfred Zaß, Chairman
the Supervisory Board examined in detail the annual financial
statements of Deutsche EuroShop AG in accordance with Ger-
man commercial law, and the consolidated financial statements
in accordance with International Financial Reporting Standards
(IFRSs), each as at 31 December 2008, as well as the management
report and group management report for financial year 2008.

12. 8 DES AR 08 SHOPPING
Customer Survey
at Altmarkt-Galerie in Dresden in Q3/2008
Gender How often to you visit
Altmarkt-Galerie?
x Female 58%
Daily 6%
42%
x Male x
x Several times a week: 20%
Once a week 17%
Age
Every fortnight 14%
Up to 19 years 13% Once a month 13%
x 20 – 29 years 29% Four times a year 9%
10%
x 30 – 39 years
15%
Twice a year 5%
40 – 49 years Less frequently 9%
50 – 59 years 13% First visit 7%
Over 60 years 20%
I always find everything I need
Where do you live? at Altmarkt-Galerie:
5% Fully agree 26%
5 minutes’ drive away
x 15 minutes’ drive away 28% x Generally agree 61%
x Tend to disagree 12%
x 30 minutes’ drive away 21%
Fully disagree 1%
45 minutes’ drive away 5%
Day trippers from Saxony
(> 45 minutes‘ drive away) 5% The fashion range at Altmarkt-
Galerie is always extremely varied
Tourists from Germany 18%
Fully agree 35%
International tourists 18%
x Generally agree 45%
Home country x Tend to disagree 20%
of international tourists Fully disagree 3%
Japan 22%
Czech Republic 14% What school grade would you
give Altmark-Galerie?
Russia 10%
Excellent 21%
Poland 6%
France 4%
x Very good 67%
United Kingdom 3% x Good 11%
Satisfactory 1%
Italy 3%
x Other 38%
Poor 0%
Insufficient 0%
x

13. 9
Statistics
At 14%, the Czechs were the second larg- main roads approaching Dresden on both
est group of tourists who visited Altmarkt- sides of the border and the distribution of
Galerie last year after the Japanese. This pocket guides at the main railway station.
is not only due to the proximity of the In addition, targeted PR activities are car-
Czech border (which is less than 50 km from ried out to ensure that Altmarkt-Galerie is
Dresden) but also the result of special mar- frequently mentioned in the Czech regional
keting measures. These include a Czech press.
version of the website, billboards on the

14. 10 DES AR 08 SHOPPING
SHOPS TELL
WHEN STORIES
DESIGNERS CREATE WALKABLE WORLDS OF BRANDS

15. 11
They can look fancy or playful, futuristic or cosy, avant-garde or vin- Claus Schmidt from store construction com-
pany Assmann sees another reason for the
tage. Those who go shopping today step into a new world each time lack of real trends in shop design. “Trends
they enter a store. One shop’s merchandise rests on rough wooden dissolve themselves into concepts”. Each
store design concept today needs a new
palettes. Another hangs its wares in overseas travel trunk. There are approach that promises uniqueness to a
store. Successful store design is marked
also the stacks of shoeboxes in the open trailer of a small lorry while
by individuality, authenticity and person-
the next shop uses a tower built of champagne glasses as shelving. ality.
As products are increasingly interchangea-
ome stores vie for atten- more expressive again. For example, trends ble, marketing strategies have to give them
S tion with their wild-pat-
terned wallpapers while
others rely on a distanced,
slick and simple look. While
in one shop marble, fire-
from fashion and interior design like the
Asia look animal prints colourful wallpapers
and ornamentation are spilling over into
store construction. Yet, no one is saying
things like “right now only glass and bare
a larger emotional context. Marketing can
infuse a product with an unmistakable
“aura”, what is referred to as the market-
ing message. This is primarily communi-
cated through advertising. Nevertheless,
place and leather armchairs invite visitors steel work” or “in spring everyone is doing shop design is an important means that
on a time journey into the 19th century, a safari look”. Any aesthetic laws or real
the next one is flying into the future with trends are really nowhere to be found.
a metallic and glass space-age design. The “NEVERTHELESS,
more noticeable the design, the more it Actually though, stores cannot be com- SHOP DESIGN IS AN
attracts customers, or so goes the store pletely refurbished each season. More
owner’s calculation. And those who suc- often, they follow renovation cycles
IMPORTANT MEANS THAT
ceed in making the customer extend his between 7 and 10 years, depending on their PRACTICALLY STAGES
or her time in the shop as long as possible product. For this reason store designers try MARKETING IDENTITY AS
will have the highest sales figures. Cus- to walk that fine line between expressive
tomers nowadays are especially looking and yet timeless design. “After all, stores
A THREE-DIMENSIONAL
for entertainment, surprises and inspira- should last long enough before custom- ROOM EXPERIENCE”
tion while shopping, which casts interior ers start saying things like “been there,
architecture in an increasingly important done that”, explains Jeffrey Hutchison,
role. As today almost everyone can shop which he says is a store owner’s biggest practically stages marketing identity as a
online, real shopping must offer something fear. Hutchison designs flagship stores three-dimensional room experience.
superior to its virtual cousin. It has to speak from Donna Karan to Polo Ralph Lauren.
to all of the shopper’s senses and create For this reason, it is important to design The customer should be able to experi-
a positive feeling. For this reason, interior the store set up as a modular system that ence and feel a brand’s spirit and unique-
design experts try to create a leisure-time can be quickly changed and thus more eas- ness with all their senses. For example, this
and well-being ambiance that puts poten- ily adapted to new products and new col- can be accomplished with the selection of
tial customers in the mood to shop. lections. specific materials. In this way, unfinished
wood lends a rustic touch. Silk or linen
Admittedly, there is no patent solution provide a raw elegance. The more believ-
for this. Indeed, there are many ways to able a brand’s presentation at the point
win the customer’s favour. Experts now 1
of sale, the more durable an impression
i.e. tiger prints, cow hide
agree that in general, after years of pur- 2
i.e. Asian drawings, black, white and red colour it makes on the customer, explains inte-
istic shop design, stores may dare to look schemes and materials such as bamboo rior architect Karl Schhwitzke whose
p

16. 12 DES AR 08 SHOPPING
The atrium of the Stadt-Galerie Passau
created an almost personal relationship to Technical innovations such as new mate-
the customers. rials support designers in their work. For
store designs include Escada and Esprit. example, polymers and actually all types of
His motto: “a good store is like an exciting Here especially it is increasingly important plastics are making a comeback, either as
story”. Shop designers act like film direc- for internationally known brands to mon- a material for interior store elements or as
tors, creating rooms that are designed to itor their various regional markets care- protective surfaces for metals and woods.
move the customer through an invisible fully. If all stores of a specific label look Their advantages are obvious, explains
storyboard. These rooms are never static the same worldwide, cosmopolitan cus- New York materials expert Andrew Dent.
because the customer is always changing tomers become easily bored. Following “Plastic is always one of the least expen-
their perspective – following a path and the motto “think global, work local”, local sive, most flexible and durable materials.
performing different activities like select- colour can in fact be that little added extra It can be formed into any shape, colourful
ing, comparing, trying on and paying. Real which makes all the difference. Successful or transparent and can even mimic other
stories can be woven into a designer’s cre- design concepts integrate local references materials such as wood, metal or glass”.
ated story, rendering it even more emo- into the architectural givens of a project. Such developments are always opening up
tional. Lacoste serves as a good exam- For this reason, the Armani store in the new possibilities in store design.
ple. Designers used the stories of René elegant Neuer Wall in Hamburg has to look
Lacoste’s tennis career and that of the croc- different than the one on Rodeo Drive in Also, experts estimate that aluminium,
odile for the French sports label’s flagship Los Angeles. steel and brass will remain the most used
store. The design conveyed a message of metals in store systems, although the way
competence in sports and at the same time they are used and the effects they can pro-

17. 13
important role. These are themes which and toward sunset. For this reason, intel-
good shop design can communicate. ligent lighting systems change the mood
of the lighting depending on the time of
For economic reasons, sustainability also day or can be flexibly set with the push of
“A STORE IS A plays an important role in shop design. a button to adapt to the shoppers’ needs.
CONSTANTLY CHANGING For example, the use of a modern lighting This enables store owners to adjust condi-
STAGE AND THE system can significantly decrease a store’s tions to the customers’ mood and always
energy consumption. Efficient lamps like be able to create the right atmosphere and
MERCHANDISE IS THE LED and halogen use less electricity and favourable atmosphere to facilitate their
STAR” release less heat, which in turn considerably decision-making process in shopping. Even
reduces air-conditioning costs for a store. modern lighting systems have put an end
“In view of notice- to the bad lighting often found in chang-
ably higher energy ing rooms. Sometimes the customers can
cos t s, energ y even control the lighting themselves and
optimisation has look at their new outfit in various lights, say
become one of a tennis skirt in artificial sunlight or a for-
the highest priori- mal dress in softer evening light. Modern
ties for projects”, light diodes can even be built into the fur-
observes the EHI niture, floors, walls and any type of mate-
Retail Institute in rial. Hence light has become an integral
Cologne. part of architecture.
Generally, intelli- Modern lighting systems, new materials
gent lighting plan- and individual approaches, forward-look-
ning is one of the ing yet timeless, sensual, surprising and
duce are changing. Copper and bronze are most important design elements in mod- sustainable: modern shop design is today
not able to compete with these metals. ern shop design. In fact, light can com- more than just putting up shelves. Interior
“They are too expensive and can quickly pletely change a room. Light can empha- architecture can even decisively influence a
get a patina”, explains Dent. sise a room’s limits, open it upward, or store’s success. The focus is to create con-
make it seem narrow or wide. Besides cepts that are unmistakable and custom-
Natural materials are in fashion, such as being light or dark, light can also be dif- tailored for the customer. Store designers
simple leather, woods, fabrics, bark and fuse or bright, direct or indirect, static or create walkable worlds of brands, which
cork. Bamboo is also currently very pop- dynamic, warm or cold, elegant or atmos- aim to allure potential customers and
ular as it currently epitomises the omni- pheric, clinical or dramatic. To achieve this, seduce them to buy.
present in-concept of sustainability. Trend targeted lighting effects must supplement
researchers like Marc Völler from the Ham- the basic lighting system. The “right” light- Contemporary materials, intelligent tech-
burg Agency Neogard claim that sustain- ing can pull customers into a store, lead nology and lighting systems are all means
ability is a megatrend and that in the future them to a specific place, emphasise dis- to an end. They create a sensual shopping
no company will be able to get around it. plays and put them in “the right light”, sur- experience that surrounds the shopper yet
After all, today not only does the safety of prise the potential shopper and manipulate is rendered invisible by technology.
a product’s ingredients classify it as envi- their mood - and all this varied through-
ronmental, the source of the product and out the day and season. After all, a per- Ultimately, says Brand Designer Alfred
its ingredients, fair trade with the produc- son’s inner biological clock makes them Leitl, “a store is a constantly changing
ers, reduction of waste in production and expect sunlight or a cool lighting during stage and the merchandise is the star”.
energy-saving transportation all play an the day but warmer lights in the evening
f Nicolette Maurer

18. 14 DES AR 08 SHOPPING
INTERVIEW
WITH VIOLA RAEDER, ARCHITECT
Ms. Raeder, what is your approach on a this, areas nesting in one another are cre- their quality. A room first becomes three-
new project? ated, and appropriate lighting and the nat- dimensional through lighting. Moreover,
First, together with the developer, we take ural materials are used to give customers lighting can actively control a customer’s
a close look at the project’s store’s target a feeling of protection. point of focus. There is also a trend to link
customers and the product they sell. This lighting and ventilation into one system. If a
gives us a sense of the atmosphere we need What are the most important design store experiences a lighting outage, even a
to create to make the shop inviting to cus- elements for you in shop design? partial one, the customers literally run from
tomers. From this, we develop our initial Within the parameters of a given floor plan, the store, which by the way also happens
ideas on basic design, materials and colour an architectural plan is developed which with too high or too low temperatures.
schemes as well as a schedule and budget leads customers through a room. This does
for the project’s realisation. not only contain colours and materials, but Are there certain materials that you pre-
rather much more a solution to an individ- fer to use?
Are there certain tricks that you use? ual room situation. An emphasis is placed I often use natural materials such as wood,
There should always be an idea or a sto- on enabling the customer to experience stone and cloth. These materials corre-
ryline as the basis of a project. I do not something, to allow them to enter another spond well to people’s current wish for sus-
try to design a room by piling up popu- world. To do this one needs to play with tainability as they create an atmosphere of
lar design trends but rather develop the materials and lighting. well-being. In the meantime, many custom-
overall concept from a central theme, as ers value an environmental lifestyle, which
if it were a leitmotif guiding the project’s How important is lighting in your aims to strike a balance between satisfy-
entire development. For example, in a concept? ing consumption and responsibility for the
home store, the feeling of “cocooning” or Lighting plays an essential role. Light is used environment.
retreating into the privacy of the home is to create important accents. Some prod-
emphasised in the store’s design. To do ucts are staged so that the light emphasises

19. 15
sectors require a perfectly planned ordered Also, the merchandising or staging of prod-
system, which helps with orienting the cus- ucts through events or special interactive
tomer, and this in fact, places certain bor- multi-media devices for trying on or trying
ders on creativity. out merchandise, this will also play a larger
role. Moreover, conversion or recycling of
The greatest creative freedom in design is ‘used’ store display systems has become
where the concept can already find its form increasingly important.
in the façade’s development, and where a
store design is required to be custom-made Are there national differences in shop
for the product and the store location. This design?
is usually the case for the luxury sector. One finds noteworthy designs worldwide.
Particularly, the most exciting shop con-
Where do you find inspiration for your What are the most important new devel- cepts originate in those large cities with a
concepts? opments in recent years? What are the diverse design scene like New York, Tokyo,
Architecture has the greatest influence on new trends? London and Amsterdam where one imme-
me. Shop design is architecture on a small To counter balance the increasingly strong diately feels their progressive character.
scale and likewise, it can have a positive trend of online shopping, those factors only However, I highly regard German shop
influence on people’s mood. Unlike “reg- available in ‘real’ shopping situations must design in an international context, as the
ular” architecture, location or the ‘genius especially be emphasised. These include desire for energy efficiency, sustainability
loci’ usually plays a subordinate role in shop individual consulting, new services and and value is a common priority here.
design. The character of the product itself communicative zones on the sales floor.
serves instead as inspiration and under- The customer can now shop at home. Cre- Ms. Raeder, thank you for speaking with
scores the design. ating social situations will become an espe- us.
cially fundamental element to strengthen
However, art, graphic design and fashion, retail shops in the future.
such as say the current trend of vintage, are
often the basis for a shop concept.
What role does the store’s business sec-
Viola Raeder
tor play in its design?
The 33-year old architect is specialised in
Where does one have the greatest free-
store design and has worked on projects
dom in design?
throughout Europe since 2002. In recent
Some sectors require special staging and
years she has planned and created stores
lighting for the merchandise, for example
on behalf of Gruschwitz GmbH for a
jewellers or grocers. Some merchandise
world-famous fashion company.

20. 16 DES AR 08 SHOPPING
CENTERT V
INNOVATIVE INFOTAINMENT WITH AN ADVERTISING EFFECT
ince the end of 2008, almost to avoid any negative effect on the pre- companies wishing to advertise. In addi-
S all Deutsche EuroShop centers
in Germany have had an addi-
tional, innovative highlight: flat
info screens have been installed at loca-
tions within the centers with a steady flow
mium shopping atmosphere in the cent-
ers. The screens are all situated at locations
where they will attract a lot of attention
and their pleasing aesthetic and technical
quality makes them a positive addition to
tion, advertising reservations can be tai-
lored to individual requirements based
on the fact that the screens are available
nationally, whether it be a regional book-
ing, a national booking or a booking relat-
of traffic, providing visitors with attractive the centers. ing only to certain centers. Particularly in
adverts and entertainment. We make a conjunction with attractive promotions tak-
continuous effort to offer our visitors an For the centers’ tenants in particular, the ing place in the centers, the advertisements
extraordinary shopping experience. For digital screens offer an excellent oppor- are an ideal addition, e.g. in order to pro-
a long time, therefore, we have been ana- tunity to attract visitors’ attention directly vide information about a market launch in
lysing the market to find a digital signage at the point of sale and to trigger impulse advance and/or round out the launch with
solution that both meets our high aes- purchases. However, the national brand- emotive images while visitors are in the
thetic requirements and offers visitors,
retailers and the branding industry true
ing industry is also already showing a great
deal of interest in this unique network of
center.
f Lothar Franke
added value. We received decidedly pos- advertising space. Processing of booking
itive feedback from visitors who partici- enquiries is performed by one central office
pated in our extensive testing in the Alster- for all of the centers, making the process
tal-Einkaufszentrum in Hamburg and the extremely simple, quick and convenient for
Hessen-Center in Frankfurt.
“THE NATIONAL BRAND-
ING INDUSTRY IS ALSO
ALREADY SHOWING A
GREAT DEAL OF INTEREST”
With the subsequent installation of the flat
screens in Deutsche EuroShop’s centers,
we have now succeeded in emphasising
the high-end nature of our centers, while
at the same time providing visitors with an
extra service. An average of 20 screens per
center display attractive programming con-
sisting of news, up-to-the-minute center
information, varied entertainment content
and interesting advertisements. There is,
of course, no sound broadcast, in order

21. 17

22. 18 DES AR 08 SHOPPING
Healthy shopping!
The subject of demographic change
is a hot topic

23. 19
ccording to a study by the Wenzel, Anja Kirig and Christian Rauch continual eye on their own life-work bal-
A Berlin Chamber of Indus-
try and Commerce, demo-
graphic change is primarily
influenced by the follow-
ing characteristics: for one,
from the Zukunftsinstitut (German Insti-
tute of the Future) – have observed an
additional phenomenon which will domi-
nate society, markets and all industries by
degrees: the “lifestyle of health and sus-
ance. Alongside a higher quality of life,
the key LOHAS aspiration is the reversal
of living practices to self awareness, free-
dom from stress and deceleration. The new
healthcare markets can be based on these
people’s life expectancy is getting longer – tainability” (LOHAS). Diverse age groups, theses.
by 2050, the statistical life expectancy for differing income groups and no affiliation
a woman is 85 as opposed to 79 today and to a distinct social class all mean that clas- There are additional LOHAS character-
for men this will be 80 as opposed to 74 sification within a concrete target group istics that are indicative of a new future
today, and for another, the population is is impossible. market:
declining – in Germany, the population is
expected to fall to 60 million inhabitants Current surveys corroborate these fore- • Consumers are proactively looking after
by 2050 as a result of the decreasing birth casts. The German Wellness Association their health
rate. According to estimates, it is antici- recently reported that the German health- • Higher costs are acceptable
care market made up a volume of EUR 239
• Orientated towards substantial and
billion. This is 10.7% of the gross domes-
“HEALTH IS NOT SIMPLY subject-specific communication
tic product. By the year 2020, the health-
care market will be recording growth up • A desire for transparency and clarity
THE ABSENCE OF ILLNESS
to around EUR 453 billion. The key topics when being addressed
BUT RATHER A LIFE GOAL” of nutrition, body, sport and quality of life
are expected to lead to extended demand- Complex and promising business models
pated that half of the population will be driven markets. Thus health will become a for the future can be derived based on the
over 50 years old by 2040 – the so-called key resource – a prime consumer goods assessments listed above.
“best agers” group. As opposed to the and lifestyle product.
majority of 50 year olds today, they want In light of this, the demands on shop-
action or at least to be part of the action. The authors of “Greenomics” identified ping centers will also change. We have
The condition of their minds and bodies the following LOHAS principles: health is attempted to present this graphically in
will also be better. They are expected to
possess purchasing power, be consumption
not simply the absence of illness but rather
a life goal. People can avoid pains, symp-
the following future scenario:
p
oriented and quality conscious as well as to toms and chronic illnesses if they keep a
carry important sales potential.
In the future, moving from the countryside
to the city will become ever more attractive
for older people as they expect to find a
Demographic change numerical
better quality of living here, such as prox-
imity to doctors, shopping possibilities or
cultural offerings. 2040
According to Berlin Chamber of Indus-
try and Commerce, the growing demand
for senior-friendly products will dramati-
cally change the market. Redefining target
groups with adapted and freshly-devel-
oped marketing measures is unavoidable.
At the same time, authors of the recently
published “Greenomics” book – Dr Eike
2050
Life expectancy Population
Ø +5 years – 25%

24. 20 DES AR 08 SHOPPING
The modern
ointment in the Instant Pharmacy – a
machine where the user is required
to register, again by means of the
individual fingerprint. He spends
shoppers of tomorrow his remaining time unwinding in the
“ReMass Lounge” relaxation area,
waiting for his partner to return. In a
relaxed atmosphere, he settles him-
self into the ReMass Massage Chair
and enjoys a soothing shiatsu mas-
It is a Sunday evening in November 2020, around 9 pm and we find sage. Four of the massage rollers, emulating human hands, loosen
ourselves in a futuristic looking domed building made of glass, up the back muscles on both sides of his spinal column. Within a
completely and self-sufficiently powered by a sophisticated solar few minutes of the treatment, he is already feeling a sense of well
energy system. The glass building is a shopping health center – being and relaxation.
SHOHEC for short – a place to satisfy all your needs: a shopping
experience coupled with rest, relaxation and healthcare offer- Finally, they treat themselves to a healthy meal in the stylishly
ings. Hand in hand, a couple meander through a shopping center furnished organic food area – they will be visiting this area again
flooded with light. Right now, the light elements green and yellow when they next visit the center. To round off their day, they indulge
are the dominating colours. The projected meadows and flowers in a jasmine tea.
suggest a stroll through a summer landscape. Unobtrusive scents,
discernable solely in the subconscious, convey a pleasant atmos- For our couple, visiting the SHOHEC has become a ritual, mix-
phere that simultaneously stimulate the desire to shop. Our two ing business with pleasure. Because of their careers they spend a
shopping strollers are “best agers”. Mid-fifties, in casual wear, both lot of time travelling Germany, which in turn affects their leisure
employed with well-thought-out time management and a conscious time and they appreciate the fact that they can visit a SHOHEC in
separation between career and their scarce leisure time. almost every German city.
Beforehand, they both entered their shopping needs into the cent- Social change and the extremely popular trend of focussing more
er’s internet service module – a special service for regular custom- on health represent enormous opportunities for the German econ-
ers and the interested public. Once they arrive at the SHOHEC, omy in general and particularly for the property and retail indus-
they register themselves by giving a fingerprint at the entrance and tries. Availing of these opportunities correctly is both a challenge
are immediately provided with a virtual sales assistant. The assist- and an entitlement.
ance they receive will be provided by means of an out-of-sight ear-
phone with miniature buttons. Pursuant to the requirements that
f Claudia Müller, Head of Marketing, ReMass
had previously been entered online, the center’s service staff have
prepared the corresponding products and both customers are now
being guided via their earphones to the relevant shops in line with
their requests. The staff in each branch are impeccably prepared
for the customer visit, are aware of sizes and taste thanks to the ABOUT ReMASS
customer-data system and can therefore efficiently offer advice Established in 2005, the service provider ReMass specialises in instal-
tailored to the customer. The pre-selection was perfect: they have ling massage chairs in the quiet areas in shopping centers and airports.
quickly found a conventional suit for HIM and a rainproof walking In addition to sounding out potential rental floor space, the full-service
suit for HER. This process saves the couple time that they can then provider is responsible for the installation as well as the management
put to better use spoiling themselves in the healthcare depart- and maintenance of its locations in both Germany and Austria.
www.remass.de
ment. The SHOHEC offers a wide range of healthcare services. In
addition to various cosmetic offerings, there are other healthcare
areas that concentrate on prevention, physical therapy and relaxa-
tion treatment. SHE opts for an offering available on the discreetly
insulated sports area: Knowledge Movement – 30 minutes move-
ment on a multi-functional unit consisting of a stepper and an exer-
cise bike whilst a digital presentation is given on the subject “New
walking trails in the Harz”. In the meantime, he visits the “Minute
Clinic”. As he already knows the easily understood treatment cat-
alogue, he is aware that the trained staff here can diagnose and
treat his skin irritation in just 15 minutes. He did not have the time
during the week to visit the doctor. He buys the recommended