Outlet Retailing - Value Retail News

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GlObal REPORT (Continued from page 12) shoppers on a slim budget. Outlet centers and outlet brands give each other credibility, ensuring that the sector has a long future. On the following pages are snapshots of the outlet industry’s progress around the world. If you would like to comment on the data or ask any questions, please contact me at lhumphers@icsc.org. ` The Americas Snapshot l Number of outlet centers: 192 179 in the U.S. 9 in Canada 4 in Latin America l Total Outlet Center GlA: 69.8 million sf 67.5 million in the U.S. 1.6 million in Canada 692,000 sf in Latin America l Average Outlet Center GlA: 376,951 sf in the U.S./181,787 sf in Canada/173,000 in Latin America l Average Outlet Center Age: 17 years l Ownership: 63 developers own 192 outlet centers l Portfolios: 3 developers – Simon’s Premium Outlets, Simon’s Mills Corp., and Tanger Factory Outlet Centers – have outlet portfolios of more than 10 million sf; those 3 developers own a total of 110 centers totaling 47.4 million sf l Number of outlet center openings in 2010: 2 in the U.S totaling 668,990 sf l Planned Phase 1 new construction through 2013: 37 (not including 10 to 15 centers planned in Canada by Tanger Factory Outlet Centers and RioCan) totaling 3.5 million to 5.3 million sf l Planned conversions of traditional shopping centers to outlet ten- ancy through 2013: 10 centers l Planned expansions to existing outlet centers through 2012: 18 expansions totaling 3.9 million sf Largest Outlet Centers in the Americas (non-anchored projects 600,000 sf and larger) CENTER CITY STATE GlA dEVElOPER OPENEd Woodbury Common Premium Outlets Central Valley nY 845,000 Premium Outlets/Simon 1985 Orlando Premium Outlets - International drive Orlando FL 775,297 Premium Outlets/Simon 1981 San Marcos Premium Outlets San marcos tX 748,237 Premium Outlets/Simon 1990 VF Outlet Center reading Pa 734,000 VF Outlet 1970 Tanger Outlet Center riverhead nY 729,475 tanger Factory Outlet Centers 1994 birch Run Premium Outlets Birch run mI 689,232 Premium Outlets/Simon 1986 Camarillo Premium Outlets Camarillo Ca 674,000 Premium Outlets/Simon 1995 Atlantic City Outlets, The Walk atlantic City nJ 670,000 Cordish Company 2003 Tanger Outlets at the Arches deer Park nY 653,780 tanger Factory Outlet Centers 2008 Wrentham Village Premium Outlets Wrentham ma 616,000 Premium Outlets/Simon 1997 Miromar Outlets, Southwest Florida estero FL 605,537 miromar development Corporation 1998 Source: 2010-2011 VRN Global Outlet Project Directory 14 InternatIonal outlet Journal SPRING 2011 Tanger’s Tanger Outlets at the Arches, New York unico’s unico barranquilla, Colombia
Neinver’s sales, footfall soar NEINVER the second largest outlet center developer in Europe with 11 centers in six countries, released impressive numbers in its 2010 earnings report, which was released in February. Portfolio-wide highlights include an 8 percent increase in sales for the year and a 7 percent increase in footfall 2010. Additionally, the 30 million people who visited Neinver centers in 2010 visited as often as eight to 10 times, and the developer says more than 75 percent of them made a purchase. “For another year running our outlet centers show positive results that demonstrate the evolution of this business model,” says Manuel Lagares, Neinver CEO. “Our outlet centers deliver a unique shopping experience with value for money. These positive indicators strengthen our position in our existing markets and encourage us to enter new New tenants push Wolfsburg sales OuTlET CENTRES International’s Designer Outlets Wolfsburg in Germany looked back on a successful fiscal year 2010. The center achieved a 32 percent increase in turnover despite 2010 having eight fewer Sunday openings than in 2009. And even with the fewer Sunday openings in 2010, the center still saw 1.4 million shoppers, who managed to spend 32 percent more per transaction than they did in 2009. “Our 2010 achievements came from many important factors,” says Regina Leitner, operations director for OCI. “The opening of renowned brands such as Adidas, Basler, Bugatti Shoes & Accessories, Escada, Mac and Olsen was positive for us both quantitatively and qualitatively, and our focus on optimizing womenswear has made the center even more attractive for our female customers.” Another factor in the 10,000-m2 center’s success comes from its strong efforts to work closely with the retail community in Wolfsburg. The approach is paying off: A joint shopping guide for the city of Wolfsburg is now markets.” Neinver currently manages 230,000 m2 of outlet space and plans to develop seven new projects totaling more than 166,800 m2 in the next two years. Other highlights from Neinver: n A 36 percent increase in total sales and a 29 percent increase in total footfall at the 28,750-m2 Vila do Conde The Style Outlets in Portugal; the big jumps were due in part to an expansion that opened in December 2009. Neinver’s 21,800-m2 Algarve The Style Outlets is set to open by the end of 2012. n Visits to Neinver’s Italian centers, Vicolungo The Style Outlets and Castel Guelfo The Style Outlets, rose by 12 calling the outlet center a “shopping destination,” for the region and the country. According to Stephan Schäfer, OCI managing director, the center is 99 percent occupied and will begin construction of its second phase this year. “We have already started pre-letting the expansion and are very happy with the current status,” Schäfer says. ` Park Avenue posts 3rd Q. sales gain RESOluTION Property’s Park Avenue in Bilbao, Spain is continuing to perform strongly, posting a 10 percent increase in sales for the third quarter of 2010. Michel Nangia, senior manager at Resolution Property, said the center’s solid leasing program is an indication of its potential. “Lettings on the scale that we enjoyed this year indicates that stability is returning to the market. We believe our proactive, hands-on asset management has established the center as a location where brands want to trade.” ` lOVE ThAT luxE PERFORMaNCE percent in 2010; the centers’ 6 million customers spent 18 percent more than they did in 2009. n Neinver’s four centers in Spain recorded 12 million visitors in 2010, which is 2 percent higher than the previous year, and a 6 percent increase in comparable sales. Occupancy in the four centers is 98 percent. Neinver’s fifth center in Spain will open in spring 2012 with 12,800 m2. n In Germany, Zweibrücken The Style Outlets saw sales increase by 8 percent and visitor numbers grow by 7 percent to 3 million. n The three centers in Poland posted sales increases of 5 percent and visitor numbers were up by 2 percent. Neinver plans to develop two new outlet centers in Poland, one on the outskirts of Krakow and the other in Annopol near Warsaw. ` Europe and Asia blew the u.S. out of the water when Amy Chan, director of marketing for Kiwi Collection, the world’s largest luxury hotel reviewer, named her favorite outlet shopping spots for the huffington Post. The list leaves little doubt that the lady likes her luxe: 1. Value Retail’s bicester Village – England 2. Studio Silvio Tarchini’s FoxTown Outlets, Mendrisio – Switzerland 3. Simon Property Group’s Gotemba Premium Outlets – Japan 4. Jeremy’s Department Store – San Francisco 5. Joyce Warehouse Outlet – Hong Kong 6. Value Retail’s la Vallee Village – France 7. The Mall Outlet (Incisa Val D’arno) – Italy 8. The “Space” Prada Outlet – Italy 9. Simon Property Group’s Yeoju Premium Outlets – Korea 10. Simon Property Group’s Woodbury Common Premium Outlets – New York SPRING 2011 InternatIonal outlet Journal 15
Page 1 and 2: COVER STORY Global Reach of Outlet
Page 3 and 4: PAGE 4 PAGE 9 PAGE 18 STAFF Interna
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Page 20 and 21: CHINa Outlet China paints with its
Page 22 and 23: PEOPlE Outlet expert Cousland dies

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