AUBURN HILLS, MI-In another sign that this economy is favoring the high luxury and discount stores, Taubman Centers has announced its decision to evolve its 1.4-million-square foot Great Lakes Crossing mall into an outlet center. The mall opened with 200 big-box and premier-name stores in late 1998.

The mall, which now is sporting a “Have you heard…” marketing campaign, will change its name officially on Oct. 9 to Great Lakes Crossing Outlets. The mall, now at 185 stores, will be opening a few new stores during its renaming, including Polo Ralph Lauren, Hugo Boss, Aerie Outlet, Talbots, Lord & Taylor and Wilsons.

There have been many changes at the 12-year-old mall, which opened in a vacant area north of the Palace of Auburn Hills and was soon surrounded by new retail centers and residential neighborhoods. Many bankruptcies plagued the mall, including Circuit City, KB Toys, and Steve and Barry, but new stores have usually filled the holes, including a new 47,000-square-foot Forever 21 and an Art Van furniture store.

Kimberly Savona, general manager of the mall, tells GlobeSt.com that the new identity should help the stores. “The move to being outlet has been ongoing for a little while. Because it has been so successful, this is our opportunity to answer the demands of the consumer and add more fashion stores,” she says.