Outlet Retailing - Value Retail News
Outlet Retailing - Value Retail News
Outlet Retailing - Value Retail News
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GlObal REPORT<br />
Shinsegae Chelsea’s Yeoju Premium <strong>Outlet</strong>s, Seoul, S. Korea<br />
(Continued from page 8)<br />
The fact is, outlet retailing is a distribution<br />
channel for brands that allows<br />
them to diversify their risks, test new<br />
products, liquidate excess goods and<br />
become more profitable.<br />
Although brands have operated their<br />
own outlet stores near their factories for<br />
many decades, it wasn’t until purposebuilt<br />
outlet centers came along – in the<br />
1970s in the U.S. and in the 1980s in<br />
Europe – that the distribution channel<br />
found stability and a comfort zone.<br />
<strong>Outlet</strong> centers provide brands with an<br />
environment that the consumer can<br />
trust and enjoy visiting, and outlet-center<br />
marketers are brilliant at attracting<br />
(Continued on page 14)<br />
12 InternatIonal outlet Journal SPRING 2011<br />
Asia/Pacific Snapshot<br />
l Number of outlet centers: 31 centers<br />
19 centers in Australia and New Zealand<br />
12 centers in China, Japan and Korea, not including 8 to 10 outlet centers<br />
operated by Mitsui due to lack of data<br />
l Total <strong>Outlet</strong> Center GlA: 10.3 million sf<br />
5 million sf in Australia and New Zealand<br />
5.3 million sf in China, Japan and Korea<br />
l Average <strong>Outlet</strong> Center GlA: 334,155 sf<br />
l Average <strong>Outlet</strong> Center Age: 8 years old<br />
l Ownership: 12 developers own 31 outlet centers<br />
l Portfolios: 2 developers – Austexx Property and Chelsea Japan – each<br />
own 8 outlet centers and have outlet portfolios of more than 2.6 million sf<br />
in Asia/Pacific<br />
l Phase 1 openings in 2010: none<br />
l Planned Phase 1 new construction through 2013: 18 (13 in China/2 in<br />
Australia/2 in Korea/1 in Malaysia) totaling 10.2 million sf<br />
10 Largest Asia/Pacific <strong>Outlet</strong> Centers<br />
CENTER NAME CITY COuNTRY dEVElOPER OPENEd GlA<br />
Shanghai <strong>Outlet</strong>s Shanghai China (PrC) Walton Brown Group 2006 1,399,000<br />
harbour Town Gold Coast Brisbane (Gold Coast) australia the Lewis Land Group 1999 640,000<br />
of Companies<br />
direct Factory <strong>Outlet</strong>s Canberra Canberra (aCt) australia austexx Pty Ltd. 2008 619,200<br />
Kobe-Sanda Premium <strong>Outlet</strong>s Kobe-Osaba Japan Chelsea Japan Co., Ltd. 2007 536,000<br />
FoxTown Factory <strong>Outlet</strong>s Shanghai Shanghai China (PrC) Studio Silvio tarchini 2006 528,500<br />
Gotemba Premium <strong>Outlet</strong>s Gotemba Japan Chelsea Japan Co., Ltd. 2000 480,000<br />
harbour Town at Waterfront City melbourne australia InG real estate development 2008 441,300<br />
australia Pty. Ltd.<br />
Yeoju Premium <strong>Outlet</strong>s Yeoju (Seoul) Korea (South) Shinsegae Chelsea 2007 415,000<br />
Sano Premium <strong>Outlet</strong>s Sano Japan Chelsea Japan Co., Ltd. 2003 390,000<br />
direct Factory <strong>Outlet</strong>s South Wharf melbourne australia austexx Pty Ltd. 2002 383,100<br />
TOTAlS 5,832,100 SF<br />
Source: VRN Global <strong>Outlet</strong> Project Directory
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