<div class="ExternalClassC13FAA9ADD90463C949BEC14AD3ED0D5"><p>​•Watershed turnover grows 300% in just one year</p><div>•Small business contribution to overall V&A retail grows from 1% to between 3 and 4% in just one year</div><div><br><div>A bustling hub for quality African craft and design, the Watershed opened for trade in October 2014 after an R50-million transformation of an existing craft market space, and has fast become an important facilitator and supporter of local entrepreneurship through the sale of handmade items, and African design.</div><div><br></div><div>David Green, CEO of the V&A Waterfront said: “The redevelopment of the Watershed was an investment into small business and African craft and design, affirming our belief in craft as a business. We see our role as that of providing a platform for people to turn their talent into fully fledged businesses, and continuing the legacy of World Design Capital 2014.”</div><div><br></div><div> A year since its successful launch, the Watershed is reporting an exceptional 300% increase in retail trade in just 12 months. Small business at the V&A Waterfront now accounts for between 3% and 4% of overall retail trade on the property, up from 1% a year ago. This is indicative of the market responding to this craft and design offering.</div><div><br></div><div>“The success of the space is due to the traders who have interpreted market needs and proven craft and design is as much a serious business as any other retail category. Kudos to the talented traders and artisans of the Watershed,” continued Green.</div><div><br></div><div>One of the primary tenets of the Watershed is that all traders must showcase and sell products that have a unique or original design, and are both produced on and made with materials from the African continent</div><div><br></div><div>“Further testament to the success of these traders is the requirement for extended space and the number of new applications we are seeing,” said Alex Kabalin, Retail Executive V&A Waterfront. </div><div><br></div><div>In addition to strong retail performance, the Watershed was recognised at a number of redevelopment, retail and marketing awards last month.</div><div><br></div><div>It was one of only 12 developments in the Western Cape to receive a Cape Institute for Architecture (CIfA) Award for Architecture this year, and was further named a co-winner of in the ‘Renovation and Expansion of Existing Centres’ category at this year’s South African Council of Shopping Centres’ (SACSC) Annual Retail Design & Development Awards.</div><div><br></div><div>The V&A Waterfront was also acknowledged for its successful marketing of the Watershed, with the Watershed receiving Gold in three categories (Centre Productivity; Grand Opening, Expansion and/or Renovation; and Category Integration) at this year’s Footprint Marketing Awards.</div><div><br></div></div></div>2015-11-18T22:00:00Z

 

 

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