All Outlet Eyes Turn to Asia - Value Retail News

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iTaliaN OuTlET Italian outlet sector learning and growing By Filippo Maffioli, President of italian Factory Outlet Italy’s outlet landscape was bustling in 2010. Two new centers expanded the industry’s reach inside the country last year, reaching the Campania Region in February with McArthurGlen Group’s La Reggia Designer Outlet and Sicily in November with Premium Retail’s Sicilian Fashion Village. Two existing facilities were also enlarged: the Neinver project at Vicolungo added some twenty new stores and officially became part of The Style Outlets, while the Veneto Designer Outlet in Noventa di Piave added about 50 boutiques. The good news is that 2011 is expected to be equally dynamic. New expansions and projects are already under way in the south of the peninsula at Eboli and Melilli. In addition, there have been encouraging developments on the tenancy front, with the arrival of top Italian brands – first and foremost, Armani, along with such established international brands as Spain’s Desigual and a new U.S. entry, the Gap. Shoppers continue to respond enthusiastically and retail reporters never miss an opportunity to emphasize the new shopping and consumer trends at the heart of all this success. It’s no coincidence that all the main outlet operators in the region have reported steadily increasing traffic and turnover in the last two years, often in double digits. In 2011, the Observatory, established in collaboration with SDA Bocconi, began monitoring the Italian market. The results should prove to be an extremely useful source for all the outlet operators – as well as the media in the region – at both the national and international level. The Observatory will publish an analysis of its first results this autumn. In conclusion, I would like to share 26 InternatIOnal Outlet JOurnal SummEr 2011 La Reggia Designer Outlet comments on consumer trends by two commission representatives: the IntrOductIOn of the FOC channel has really revolutionized Italian consumer habits, rapidly becoming a social and cultural phenomenon. In a period characterized by widespread economic crisis and a sharp drop in consumption, the outlets are able to intercept a large number of clients who are unwilling to forego high quality products, especially apparel. In this sales channel, they are able to find the most prestigious brands at discounted prices. The heavy demand enables many players to coexist and justifies the expectations of further growth, especially in Southern Italy. The response received from the clientele in Campania, and even outside the region, in this first year of business of La Reggia Designer Outlet, has only strengthened our belief in the format. We inaugurated the mall on February 18, 2010 with an investment of over €120 million, creating 1,000 jobs, and in just one year, the outlet at Marcianise can boast numbers that ensure the initiative a position of leadership on the Italian retail scene. roberto meneghesso, County manager for Italy, mcarthurGlen In the laSt decade we have seen new ways in which goods are transferred to the consumer. In the past the success of shopping citadels was based on the price/quality ratio and on ensuring that the experience is enjoyable. We at Fashion Outlets believe that the time has come to add a new feature to the game in which the consumer can also try out new ideas and share in the goods once available to just a few. With this view, the Sicilia Fashion Village was inaugurated on November 25, 2010, with 120 stores, including food and services featuring typical Sicilian products and local crafts. This kind of merchandising in the center gives a strong link to the local region and helps to develop tourism for the entire community. matteo Percassi, General manager, Premium retail
250,000 sq m The Fund's 250,000 sq m portfolio comprises 12 highly successful pan-European designer outlet centres in Italy, Germany, France, Austria, The Netherlands, Belgium and the UK. ITALY; SERRAVALLE, BARBERINO, CASTEL ROMANO | AUSTRIA; PARNDORF | THE NETHERLANDS; ROERMOND GERMANY; BERLIN, HAMBURG | BELGIUM; DOC LUXEMBOURG | FRANCE; ROUBAIX | UK; CHESHIRE OAKS, SWINDON, BRIDGEND www.henderson.com/property European Outlet Mall Fund The newly renovated McArthurGlen Designer Outlet Luxembourg officially opened on 14 April 2011 with an exciting new brand mix and total GLA of 16,500 sq m. We are also developing a new 26,000 sq m outlet centre in Neumünster, Hamburg with our partners McArthurGlen and are always looking for new opportunities in core Western European markets. David Williams Fund Manager European Outlet Mall Fund Tel: +44 (0)20 7818 6423 david.williams@henderson.com Jamie Acheson Asset Manager European Outlet Mall Fund Tel: +44 (0)20 7818 3394 jamie.acheson@henderson.com FOR PROFESSIONAL ADVISERS ONLY This document is intended solely for the use of professionals, defined as Eligible Counterparties or Professional Clients, and is not for general public distribution. The value of an investment and the income from it can fall as well as rise and you may not get back the amount originally invested. Tax assumptions and reliefs depend upon an investor’s particular circumstances and may change if those circumstances or the law change. If you invest through a third party provider you are advised to consult them directly as charges, performance and terms and conditions may differ materially. Due to the specialist nature of property investment, in certain circumstances there may be constraints on the redemption or switching of units/shares in the fund(s). The funds invest in a specialist sector that may be less liquid and produce more volatile performance than an investment in other investment sectors. The value of capital and income will fluctuate as property values and rental income rise and fall. The valuation of property is generally a matter of valuer’s opinion rather than fact. The amount raised when a property is sold may be less than the valuation. Nothing in this document is intended to or should be construed as advice. This document is not a recommendation to sell or purchase any investment. It does not form part of any contract for the sale or purchase of any investment. Any investment application will be made solely on the basis of the information contained in the Prospectus (including all relevant covering documents), which will contain investment restrictions. This document is intended as a summary only and potential investors must read the Prospectus before investing. Issued in the UK by Henderson Global Investors. Henderson Global Investors is the name under which Henderson Global Investors Limited (reg. no. 906355), Henderson Fund Management Limited (reg. no. 2607112), Henderson Investment Funds Limited (reg. no. 2678531), Henderson Investment Management Limited (reg. no. 1795354), Henderson Alternative Investment Advisor Limited (reg. no. 962757), Henderson Equity Partners Limited (reg. no.2606646), (each incorporated and registered in England and Wales with registered office at 201 Bishopsgate, London EC2M 3AE), Gartmore Investment Limited (reg. no. 1508030), Gartmore Fund Managers Limited (reg. no. 1137353), (each incorporated and registered in England and Wales with registered office 8 Fenchurch Place, London EC3M 4PB) are authorised and regulated by the Financial Services Authority to provide investment products and services. Telephone calls may be recorded and monitored.
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