Shoplifting on rise at Wrentham

Local police have been busy apprehending shoplifting suspects at the Wrentham Village Premium Outlets. So far this month, there have been six people charged with various crimes.

Three women, were charged with shoplifting May 8 after they allegedly tried to steal boots from the UGG Store. Detective Lt. William McGrath stopped their car and recovered the boots, according to police.
Last week, a New York man and woman were arrested allegedly trying to purchase gift cards with stolen credit cards. Both from Brooklyn, were arrested by officers Steven Saulnier and David Halloway after police were called to the mall.

When police arrived, the suspects had left the customer service area and were being followed by Security Officer Charles McGrath. The suspects were apprehended as they attempted to leave the mall in their car.

Police allege the pair had numerous fraudulent credit cards, identification and stolen merchandise. They were charged with larceny, possession of counterfeit credit cards, receiving stolen property and possession of false Registry of Motor Vehicle documents.
Last Saturday, Patrolman Todd Schwalbe arrested an alleged shoplifter after a foot chase through the mall, across the parking lot and down a steep embankment abutting Interstate 495, according to police. He was nabbed by Schwalbe after police were called to the Timberland store and was told the suspect had left the store. Schwalbe encountered the suspect carrying several shopping bags at which time the suspect dropped the bags and fled on foot.

Source: The Sun Chronicle

Saks returns to profitability by reducing inventory

Cutting both promotions and inventory as its revenue rose helped luxury retailer Saks Inc. return to profitability in its first quarter and surpass Wall Street's expectations. Saks dramatically pulled back on ordering as the recession took hold, and it has worked with designers to lower its selling prices. Both moves have helped its results.

The upscale chain is considered a barometer of luxury spending, so industry watchers will closely check its performance for signs that its customers are resuming shopping as the economy begins to improve.The retailer indicated during a conference call with analysts that its shoppers are purchasing fewer items but at higher prices, a sign that high-end consumers are willing to spend more now for things they want.

For the period that ended May 1, Saks' net income was $18.8 million, or 11 cents per share. It reported a loss of $5.1 million, or 4 cents per share, a year earlier. Revenue climbed 7 percent to $667.4 million from $624.3 million as shoppers picked up women's and men's clothing, handbags, shoes and jewelry at its Saks Fifth Avenue stores. Excluding one-time charges of a penny per share mostly related to severance pay and store closing costs, Saks earned 12 cents per share.

Wall Street analysts polled by Thomson Reuters on average expected a smaller profit of 5 cents per share on revenue of $662.9 million. They typically exclude one-time items.

Revenue at stores open at least a year rose 6.1 percent. This figure is a key indicator of a retailer's performance because it isn't skewed by results from stores that opened or closed during the year.

Saks reduced its consolidated inventories by 9.9 percent to $702.1 million. The retailer also is honing its business by closing less profitable stores. The chain said Monday that it plans to shut its Saks Fifth Avenue store in Charleston, S.C., by July 17. It previously announced plans to close stores in Portland, Ore., and San Diego in July.

While pleased with the company's quarterly performance, Sadove said in a statement that Saks is approaching the rest of the year with caution because the economy remains uncertain. Saks predicts its revenue at stores open at least a year will rise by a percentage in the mid-single digits for the full year and for the second half of the year, but it forecasts slower growth in the current quarter.

Source: Inside the Bay Area - The Oakland Tribune By MICHELLE CHAPMAN AP Business Writer

Outlet mall thriving despite difficult economic times

Cincinnati Premium Outlets is continuing to thrive in a struggling U.S. economy with seven new stores scheduled to join the mall lineup. The outlet mall, which includes 100 stores, is nearing full capacity and expects to fill its seven vacant spaces by this summer, said Kevin Chesar, Monroe’s director of development.

Robert Tackett, general manager of the outlet center, said the mall is doing “quite well,” but he declined to provide specific numbers about the occupancy of the mall because he said those numbers aren’t made available to him.

“When we first opened, it took a while for the demographics to see what it is, and our leasing people have been working real hard to get us quality tenants to fill up what we call the GLA (gross leasable area).
Joe’s Jeans opened May 2. New York & Company is set to open May 28, and Kitchen Collection, Guess, and Claire’s Accessories recently opened stores at the outlet center, Tackett said. Other stores coming soon are Under Armour on June 15, Lenscrafters on July 1, Lacoste in August, Loft Outlet in September and True Religion in 2011, he said.

He attributes the mall’s success to the discounts it offers shoppers. “When you’re in an outlet location like we are, it does well when the economy is slow and it does well when the economy is good because you’re getting 25 to 65 percent off most your merchandise. A lot of people are becoming savvy shoppers,” he said.

Tackett said Premium Outlets also is working to develop pad lots behind the mall, where the city would like to see include some sit-down restaurants.

Source: Dayton Daily News

Outlet mall sees dozens of thefts

Thieves considering stealing items from stores at Cincinnati Premium Outlets should really reconsider, one Monroe police detective is saying. That’s because the Monroe Police Department is being proactive in arresting criminals at the mall, said Detective Ken Parson. "This is not the place to hit because you’re very likely to be arrested. If you’re a thief, do not come to the Monroe outlet mall,” he said.

Since the mall opened in August 2009, there have been a total of 109 calls, with 46 of those reported as thefts and 23 of those thefts resulting in arrests for a 50 percent success rate, he said.

Police Officer Mike Worley, said a lot of those 23 arrests came from Saks Fifth Avenue Off 5th, which has its own security personnel. “They’re on the ball,” Parson said.

He said some of the unsolved cases the department is working on were reported by tenants at the mall who have refused to cooperate even when the suspect is known. “We went to a managers meeting a few days ago and it seemed like the attitude from lot of the corporate offices was this is an outlet mall so this is a second chance to recover money from purchases anyway. So it’s not as if they’re primary stores. If it’s a primary store and you’re stealing from them and they’re losing more money, they’re more apt to prosecute,” Worley said.

The suspects travel along the interstate in groups of three or four and go into stores and while some suspects steal merchandise the other members distract store employees to mostly help support drug habits or rings, Worley said.

“Most of the people we arrest come from Dayton,” Parson said. Worley said the suspects know it’s relatively safe because the chances of being prosecuted are slim. “There’s limited risk and a lot of reward,” he said.

Source: The Oxford Press

6 Great Excuses to Buy an iPad for Your Business

It can't replace your laptop yet, but Apple's powerful new tablet might be the last gadget you'll ever need.


1. Product and video demonstrations: Despite its lack of Flash support, the iPad's internet-connected access, touchscreen interface and organic web surfing experience make it an excellent way to demonstrate online products and services. Businesses that rely on video to tell their story via reels, testimonials, commercial spots, product demonstrations and more will also find the gadget's dazzling 9.7-inch display a great method to get the point across. As a multi-function device, it's further possible to jump between slideshow presentations and pulling up online traffic stats on-demand, making it a solid all-purpose solution when screening examples for retailers, trade partners and prospective clients alike.
 
2. Endless functionality: Arguably the gizmo's greatest strength--beyond its powerful A4 processor, 3-D graphics capabilities and user-friendly front-end--is its massive level of support from the third-party software development community. From mobile invoicing and customer relationship management programs to apps that let you track mileage and monitor flight statuses in real-time, a legion of bedroom coders continue to push the device further than even its creators ever imagined. A few quick software purchases and downloads is all it takes to transform the iPad into a portable translator, inventory management system, voice recorder and more. Buy one, and you may never need another gadget again.
 
3. Access to digital publishing: Via a range of software solutions from the iBooks app to Kindle suite and support for the ePub format, the iPad puts a massive library of publications at your fingertips. Whether you're looking to parse the pages of today's newspaper, read a few chapters of the hottest new business book or enjoy immediate access to a full spate of corporate training manuals, it makes a much more ergonomic, practical and transportable solution than traditional carrying methods. Added bonuses include massive cost savings, less waste and fewer shipping charges for all parties involved. Think of it as your very own personal digital newsstand.

4. Note-taking options: Allowing users to jot down notes on command, scribble out detailed technical sketches or simply dictate important memos, the iPad may prove a lifesaver for executives who feel overwhelmed by today's incoming torrent of information. Using built-in features and downloadable apps, it's possible to more effectively manage your calendar, quickly spot holes in your schedule at a glance and even remember what to pick up on your next office supply run. The closest many entrepreneurs will ever come to having a personal assistant, it can oftentimes prove just as handy in terms of keeping you from drowning under a sea of daily minutiae.

5. Constant connectivity: No matter if you choose to access online functions through a wireless hotspot or high-speed cellular network, the iPad lets you keep up with e-mail, monitor emerging trends around the web and stay abreast of breaking headlines. Using the device, you can stay in touch with colleagues across time zones and continents, remain on top of shifting stock prices and catch topics relevant to your industry as they storm the international newswires. Those who've been holding out on purchasing a smartphone, given usage patterns that lean more toward data-intensive tasks than reams of conference calls, may find it a welcome alternative.

6. It's just really cool: Yeah, it looks cool. You look cool when you are using it and its really a lot of fun. Be that guy in the airport or on the plane that everyone else with their stupid laptops are jealous of.

Source: Entrepreneur.com by Scott Steinberg

Puerto Rico Premium Outlets

I received the following announcement from Richard N. Lewis  Exec VP – Leasing Premium Outlets® yesterday.

"We are pleased to confirm that on Thursday, May 13, 2010, Simon Property Group became the new owners of Prime Outlets - Puerto Rico in Barceloneta. We have renamed the center: Puerto Rico Premium Outlets®. The center's current management staff will remain in place. The center becomes part of our Premium Outlets division's Central Region.

The center has already been integrated into our website - see http://www.premiumoutlets.com/outlets/outlet.asp?id=80. Shoppers can now benefit from programs such as the Premium Outlets VIP Shopper Club, global tourism outreach and more. The process for conversion to the center’s new name of Puerto Rico Premium Outlets has already begun on-site and off-site."

Mark Libell

Silent Selling: Best Practices And Effective Strategies In Visual Merchandising

This book is a great resource for your visual merchandising team or your project managers. It also is a great reminder for those of us in the field of what usually works, and reminds us to share this knowledge with new staff members.

This edition of Silent Selling captures the direction in which today's retail industry is moving and leads you beyond the basics of visual merchandising. Readers will benefit from an understanding of experts recent discoveries and learn valuable new techniques. With these informational tools, you and your staff can learn to create and deliver professional presentations that will turn into sales.




For other great retailing books see:
The Complete Guide to Investing in REITS
Retailing in the 21st Century

CLICK HERE TO BROWSE THE OUTLET INSIDERS BOOK STORE

Mark Libell

Outlets in Moscow!

FASHION HOUSE Development (FHD) are taking the Outlet Centre offer into Russia and have their sights set on a number of locations. They have completed the acquisition of their site in Moscow they have just completed on their second site in St Petersburg.

Neil Thompson, CEO, FASHION HOUSE Development, explains: ‘Currently Russia has no factory outlets and yet there is the potential for at least 20 based on population, brand awareness and potential spend. So far we have secured two locations with Moscow due to open in Nov 2011 and St. Petersburg in 2012 and we have a feasibility studies being carried out on a further 11 sites.’

The St. Petersburg site is located South-West of the city limits on a major highway intersection allowing easy access from all main routes and near the Pulkovo airport. It is 37,000 m² and will be home to 172 units, foodcourts, children’s play area and 1200 car parking spaces. It has a catchment of over 4.2 million within a 90 minute drive time.

Neil adds: ‘We partnered with GVA Sawyer Moscow to act as local project managers for our Moscow site and they also acted as a broker representing the land owner, Credor Management Company, on the St. Petersburg site.’

The Moscow site that has already been secured is North West of Moscow near the Sheremetyevo International airport on the main highway connecting Moscow and St. Petersburg. It is 39,000 m² and will be home to 193 units, 7 foodcourts, 2217 parking spaces and a children’s play area all themed with Moscow classic and traditional architecture. It has a catchment of over 8.3 million within a 90 minute drive time and is due to open in November 2011.

He adds: ‘This is a new and exciting marketplace that we feel is ready for the FASHION HOUSE branded Outlet offer. There is high brand awareness amongst consumers who have money to spend and extremely high demand from our current tenants wanting to move into this market.’

SOURCE: Retail Space Europe

Chelsea Changes Name to Premium Outlets

I received this email yesterday from Michele Rothstein Senior Vice President, Marketing Premium Outlets®

"This email is to advise our business associates that we have made the decision to no longer use the Chelsea / Chelsea Property Group name. We will now be identified as Premium Outlets®, the outlet division of Simon Property Group.

In October 2004, Simon Property Group acquired Chelsea Property Group, previously a New York Stock Exchange-listed company. Chelsea owned a portfolio of upscale outlet centers primarily under the trademarked brand Premium Outlets®. Since the acquisition, the Chelsea portfolio has been integrated into the Simon corporate operating systems as its outlet division. We made the decision that we would discontinue the use of the Chelsea company name choosing to connect the Premium Outlets brand name more directly with the Simon corporate name and identity.

Today, Simon, headquartered in Indianapolis, Indiana, operates from five major real estate platforms - Regional Malls, Premium Outlets®, The Mills®, Community / Lifestyle Centers, and International Properties. Leasing, Real Estate, Marketing and Operations for Premium Outlets continues to be managed out of its Roseland, New Jersey office.

Day-to-day operations and personnel are not changing, but we wanted you to be aware of the name change and to please make note of it in all future communication and documentation. This change does not impact our various legal entity names. Moving forward, you will see on contracts and other legal documents that Premium Outlets will be represented as (for example) "CPG Partners, L.P. dba Premium Outlets". Note, our international joint-venture entity names will not change (i.e. Chelsea Japan, Shinsegae Chelsea and Chelsea Mexico).

Please let us know if you have any questions. We look forward to our continued alliance.

Michele

Michele Rothstein
Senior Vice President, Marketing
Premium Outlets®
SIMON®
http://www.premiumoutlets.com/"

Mark Libell

Travelocity Gnome Comes to San Marcos

Prime Outlets announced yesterday its Prime Outlets – San Marcos location, has partnered with Travelocity®, one of the largest travel companies in the world, to offer Texas-bound travelers an exclusive shopping package at the 750,000 square foot shopping destination.

When customers complete Travelocity's online booking process to area gateway cities San Antonio, Dallas, Forth Worth or Austin, the opportunity to purchase a Prime Outlets – San Marcos shopping package that includes a $50 Prime Outlets gift card, spa package including L'Occitane en Provence and Bath & Body Works products, signature tote, Prime Outlets – San Marcos VIP Coupon Book worth hundreds of dollars in additional savings, and outlet center map will appear for the traveler's consideration for the purchase of $72.00.

"Travelocity is one of the most visited travel Web sites in the world and we are honored to be the company's only featured outlet shopping destination for travelers searching and confirming visits to these nearby Texas metro regions," said Prime Outlets Senior Vice President of Marketing Karen E. Fluharty.

Source: The Street

iPhone users making money magically disappear

As if making money magically disappear from your bank account wasn't easy enough, DeviceFidelity's new In2Pay case, which will let iPhone users make contactless transactions on Visa's payWave system, will turn you into the Dumbledore of mobile payment.

The case is being developed by DeviceFidelity and will let your iPhone play nice with the company's existing In2Pay microSD card. You'll just wave your iPhone at any Visa payWave terminal, which can already be found at some 32,000 retailers, and voila, you've made your transaction. It will feel like stealing, but it won't be.

There are two main things that need to be in place for this to work: security and ubiquity. To the first point, DeviceFidelity says that transactions made through its password protected mobile payment app will be totally secure, generating a unique ID for every transaction. To the second, Visa says that it's aggressively expanding its payWave system to new retailers and new geographic regions.

We'll have to wait to see if DeviceFidelity holds up their end of the bargain—they're running trials with the In2Pay iPhone case this quarter.
Source: Gizmodo

The 5-8 Club, Home of the Juicy Lucy

CROSSROAD CUISINE - My quest to find great local food when I'm on the road.

I am really concerned about posting this location. A year ago I would come here and walk right in and be seated. Now that the secret has been revealed on national television I had to wait an hour for a seat. But I have promised to bring you periodic reviews of local restaurants that I eat at when visiting outlet centers, so here goes.

Last week while visiting the Albertville Premium Outlets I had a Juicy Lucy at the 5-8 Club in Minneapolis. Just remember, I was eating here long before it became famous.

The 5-8 Club

5800 Cedar Avenue South

Minneapolis, MN 55417

(612) 823-5858

http://www.5-8club.com/

In 1928, at the height of Prohibition, the 5-8 Club opened amid the high living flapper era operating as a "speakeasy" serving beer and liquor illegally, along with a light food menu, to its thirsty patrons.

OK, this isn't really near the Albertville Premium Outlets. Normally when I visit that center I drive back to Minneapolis and stay near the airport. This is a simple few miles from the airport. So what you may wonder is a Juicy Lucy? A Juicy Lucy is a burger made with two quarter pound USDA choice, fresh, never frozen beef patties with the cheese in the middle.  YES the cheese is inside the two burger patties and it oozes out when you bite it. Its heaven.

You can order the burger on its own or get it as part of a basket. Your basket can come with fries, jo jo's(think steak fries) or onion rings. They all come with coleslaw which is really good. You can see my cheese starting to ooze out between the two beef patties. The onion rings were pretty much standard fare. The fries are better, but I had never tried their onion rings before.

The appetizers are really big. Definitely enough for 2-3 people. On this trip I tried the Extreme Jo Jo's.

As I mentioned, Jo Jo's are steak fries. In this case they are smothered in chili, cheddar cheese, jalapenos and served with sour cream. They were great, but the best appetizer is the onion straws.

Don't confuse the onion straws with the onion rings that came with my basket. They are not anywhere close to the same thing. The onion rings clearly come to the restaurant premade and frozen. The onion straws are made fresh on the location and they are awesome. I have to admit that I think they are even better than the burger. They are probably the best fried onions I have ever eaten. Worth the trip.

Now for the fame. They have been on the Travel Channels Food Wars, and Man vs Food. They also got best burger in the Minneapolis St Paul Magazine. 

Look, I don't mind if you go. I just ask that if you see me standing in line at the door that you wave me over to your table.

Check out another great burger I reviewed at the Barley Creek Brewing Company.

If you want another good source for burgers when you travel check out A Hamburger Today.

If you liked this post then you have to get this book: 
500 Things to Eat Before Its Too Late

Mark Libell

Champagne, Shopping and Sweets

Prime Outlets will welcome more than 2,500 International POW WOW attendees as it hosts Champagne, Shopping and Sweets, a private shopping event at Prime Outlets - Orlando, Tuesday, May 18 beginning at 6:45 p.m.


The shopping celebration at the largest outlet shopping center in the southern U.S., and second largest in the nation, will feature one-night-only merchant discounts, entertainment, refreshments, models showcasing the latest designer travel fashions, as well as the opportunity to meet noted fashion expert Lilliana Vazquez, prominent stylist known for hosting "Style Check," "AMC Date Night," "That's So New York" and her web site The Cheap Chica's Guide to Style.  Event guests will also have the chance to win a $500 Saks Fifth Avenue OFF 5TH Shopping Spree with the stylist, or a deluxe Samsonsite luggage set.

"We are excited to welcome the international tourism community and introduce them to Prime Outlets - Orlando," said Prime Outlets Senior Vice President of Marketing Karen E. Fluharty. "Our exclusive evening event will be a must-attend at this year's conference where guests can indulge themselves with a evening of designer outlet shopping from our collection of more than 175 designer and brand-name merchants."

Prime Outlets - Orlando representatives will present a complimentary "swag bag" to their first 500 guests.

Source: Focus on Travel News

Albertville Premium Outlets

Last Wednesday I went to the Albertville Premium Outlets to visit my Kids Supercenter store there.

The Albertville Premium Outlets
Developer: Chelsea Property Group
6415 Labeaux Ave NE
Albertville, MN 55301
(763) 497-1911
Regular Hours: Mon-Sat: 10am-9pm, Sun: 10am-7pm

Albertville Premium Outlets is located at I-94 at County Road 19 between St. Cloud and Minneapolis, MN.

After a great visit at my Kids Supercenter store, I walked the center. Here are some of my observations from that visit.

The center is divided up into several sections. The mall lists it as two separate sections but in reality it is 3 separate sections. They mall calls the two sections The Plaza and The Promenade. The Plaza consists of 3 buildings. Buildings A and B are in the largest part of the mall which is horseshoe shaped. It has the largest parking lot and is easiest to shop. Building C is a newer phase, shaped like a strip mall with its own smaller parking lot. The Promenade is across County Highway 19 and is designed so none of the stores face its parking lot.

Buildings A and B have a total of 52 stores. This is by far the best section. It has the largest parking area and the most stores. Every store can be easily seen from anywhere in the parking lot and is easily shopped by the customer. There was one vacancy between Bass and Aeropostale.

Building C has 13 stores and also had one vacancy.

The Promenade is across County Highway 19. This is a 4 lane highway. There is a street light but I seriously doubt anyone walks across to this section. It is far from Buildings A and B and you have to cross the highway. If you are going to shop in the Promenade you will get in your car and drive over there. The Promenade has 35 stores and I counted 13 vacancies.

For comparison:

Buildings A & B combined: 52 stores 1 vacancy - 2% vacancy rate

Building C 13 stores 1 vacancy -7.6% vacancy rate

The Promonade 35 stores 13 vacancies - 37% vacancy rate.

New Additions:

I did see window signage announcing two new stores in the Promenade.

The Book Warehouse and NY &Company

When these two stores open it would lower the vacancies in the Promenade to 11 for an 31% vacancy rate.

Mark Libell
5DCWJ828JX28

Joe's Jeans Opens Store at Leesburg Corner Premium Outlets

Ashley Tisdale, April 2010 issue of Nylon Magazine.The Denim jacket by Joe’s Jeans $222

 
Joe's Jeans Inc. announced Wednesday that it has opened its fifth store since March 27, 2010 at Leesburg Corner Premium Outlets, home to 110 of the finest branded outlet stores, and less than an hour from our nation's capital, Washington, D.C.

Marc Crossman, President and CEO, commented, "Our Leesburg Corner store represents our first store in the mid-Atlantic region, an area where we have long had a strong existing denim customer base." Crossman added, "Our retail locations have given us the opportunity to showcase everything Joe's has to offer to our loyal customers, generating an amazing response to everything from men's denim to The Bag, The Belt, The Shirt and The Legging and growing our Joe's brand in both sales and product knowledge."

Joe's Jeans Inc. designs, produces and sells apparel and apparel-related products to the retail and premium markets under the Joe's brand and related trademarks. More information is available at the company website at http://www.joesjeans.com/.

Their web site also lists them opening soon in Cincinnati Premium Outlets, Wrentham Premium Outlets, North Georgia Premium Outlets and Houston Premium Outlets.

Source MarketWatch

Tanger Elects Directors and Officers

GREENSBORO, N.C., May 14, 2010 (GLOBE NEWSWIRE) -- The shareholders of Tanger Factory Outlet Centers, Inc. (NYSE:SKT) at its Annual Shareholders Meeting on May 14, 2010, elected the following directors to serve for the ensuing year:

Jack Africk Independent Director, Interim Non-Executive Chairman of the Board
William G. Benton Independent Director
Bridget Ryan Berman Independent Director
Thomas E. Robinson Independent Director
Allan L. Schuman Independent Director
Stanley K. Tanger Independent Director
Steven B. Tanger Director, President and Chief Executive Officer

During a meeting of the Board of Directors held on May 14, 2010, the following officers were elected to serve for the ensuing year:

Steven B. Tanger – President & Chief Executive Officer
Frank C. Marchisello, Jr. – Executive Vice President, Chief Financial Officer & Secretary
Carrie A. Warren – Senior Vice President, Marketing
Kevin M. Dillon – Senior Vice President, Construction & Development
Lisa J. Morrison – Senior Vice President, Leasing
James F. Williams – Senior Vice President, Controller
Virginia R. Summerell – Vice President, Treasurer & Assistant Secretary
Mary Anne Williams – Vice President, Human Resources
Elizabeth J. Coleman – Vice President, Operations
Laura M. Atwell – Vice President, Marketing
Beth G. Lippincott – Vice President, Leasing
Ricky L. Farrar – Vice President, Information Technology
Thomas J. Guerrieri Jr. – Vice President, Financial Reporting
Leigh Ann Figg – Vice President, Real Estate Counsel

Tanger Factory Outlet Centers, Inc., (NYSE:SKT), is a publicly-traded REIT headquartered in Greensboro, North Carolina that presently operates and owns, or has an ownership interest in, a portfolio of 33 upscale outlet shopping centers in 22 states coast to coast, totaling approximately 10.0 million square feet leased to over 1,900 stores operated by 330 different brand name companies. More than 150 million shoppers visit Tanger Outlet Centers annually. For more information on Tanger Outlet Centers, call 1-800-4 TANGER or visit the company's web site at http://www.tangeroutlet.com/.

Source: GlobeNewswire