PtAk Outlet - Value Retail News

Outlet surge: 

Demand for brands 

Plus: 

McArthurGlen heads to Vancouver 

VR’s Chic Outlets to open in China 

Johor, Shanjing open in Asia 

PtAk Outlet 

Planned in Poland 

Shanjing Outlet Plaza-Ningbo, China 

Outlets at the O2 planned 

Centers open in Poland and Sicily 

Russian centers opening in 2012

ALBERTA FERRETTI 

ARMANI 

BALLANTYNE 

BLUMARINE 

BOTTEGA VENETA 

BRIONI 

BROOKS BROTHERS 

BULGARI 

BURBERRY 

COSTUME NATIONAL 

DAMIANI 

DOLCE & GABBANA 

ESCADA 

ETRO 

FENDI 

GUCCI 

HUGO BOSS 

JIL SANDER 

JOHN RICHMOND 

KENZO 

LA PERLA 

MARNI 

MISSONI 

MONCLER 

MULBERRY 

PAUL SMITH 

POLO RALPH LAUREN 

ROBERTO CAVALLI 

SERGIO ROSSI 

TAG HEUER 

TRUSSARDI 

VALENTINO 

VERSACE 

WE ARE 

LISTENING 

We are a company of retailers with 18 years of experience 

building and managing designer outlet villages. Every 

week our 20 centres bring millions of the best customers 

face-to-face with the finest collection of international brands 

and luxury labels. 

Last June we opened our newest village in Athens, and we 

are currently under construction near Hamburg with our 

21st centre (already 40% pre-leased) which will open in 

September 2012. We are also expanding our most popular 

centres near Düsseldorf (Roermond), Vienna (Parndorf), 

Milan/Genoa (Serravalle), Venice (Veneto), Florence 

(Barberino), Rome (Castel Romano) and Naples (La Reggia). 

Allow us to help you expand your business in the fastestgrowing 

retail sector in Europe. 

Please contact Adrian Nelson on +44 (0)20 7535 2300 or 

a.nelson@mcarthurglen.com www.mcarthurglengroup.com 

Built by retailers who listen, 

for retailers who care about their business.

PAGe 6 PAGe 12 

PAGe 17 

StAFF 

DAViD B. HeNRy 

ICSC ChaIrman 

International Outlet Journal is a publication for the 

non-U.S. factory outlet industry. Copyright © 2012 

In s I d e 

CONTENTS 

Vol. 8 No. 1 Winter 2012 

MiCHAel P. keRCHeVAl 

ICSC PreSIdent and CeO 

RuDOlPH e. MiliAN, SCSM, SCMD 

ICSC SenIOr VP 

iCSC euROPe 

London, +44 20 7976 3100 

icsc.europe@icsc.org 

iCSC/iOJ 

2519 n. mcmullen Booth rd. 

Suite 510-356 

Clearwater, FL 33761 

+1 727 781 7557 

liNDA HuMPHeRS 

editor in Chief / director ext. 3 

lhumphers@icsc.org 

RANDy GDOViN 

art director ext. 4 

rgdovin@icsc.org 

kAReN kNOBelOCH 

advertising Prod. mgr. ext. 2 

kknobeloch@icsc.org 

SAlly StePHeNSON 

Senior advertising executive 

+1 847 835 1617 

Fax: +1 847 835 5196 

sstephenson@icsc.org 

4 Learning curve: outlets as investments 

6 Opening Updates: Serbian, Russian centers opening 

in March; Fashion House Moscow to open in 

November; Outlet Park Szczecin will launch mid-year; 

Kiev E95 gets construction permit 

8 Neinver opens its fourth in Poland 

10 Promos gets Melilli Outlet open in Sicily 

12 Simon’s Johor Premium Outlets opens in Malaysia 

14 Shanjing Outlet Plaza opens in major Chinese port 

16 New Projects: MCG to open in Vancouver; Ptak 

thinks BIG in Lodz; Copenhagen’s second FOC 

planned; developers progress on West Paris; 

Outlets at the O2 planned 

18 Leasing Activity: Gloucester Quays signs White Stuff; 

new tenants join MCG’s UK schemes; LDO signs 

anchors; 14 tenants join French centers 

20 Global News: Dubai Outlet Mall turns dust into gold; 

One Fashion Outlet keeps on leasing; Value Retail’s 

China plans; Freeport Retail in an expansive mood; 

MCG’s UK centers post robust holiday sales 

22 Here and There: Outlet tennis a Cannes grand slam; 

ICSC World Summit scheduled in September 

Advertiser index 

Fashion house ..................................... BC 

Fashion Outlets Chicago ...................... 15 

henderson Global Investors ............... IBC 

mcarthurGlen ......................................IFC 

neinver ................................................. 11 

PtaK Outlets ........................................ 19 

Value retail ............................................ 7 

WINTER 2012 INterNatIONal Outlet JOurNal 3

EOC RECap 

Outlet industry flexibility 

is key in a tough economy 

Outlet execs 

speaking in Milan 

say investors 

are still learning 

about the sector’s 

strengths. 

By liNDA HuMPHeRS 

Editor in Chief 

Brendon O’Reilly, 

managing director of 

Fashion House Group, 

was telling the audience at ICSC’s 

October, 2011 European Outlet 

Conference in Milan about what 

happens when he arrives for a 

meeting with a lender – be it a 

bank, investment group or fund manager. 

“I go into the office expecting to meet 

with the one or two people with whom 

I have an appointment,” O’Reilly says. 

“Instead, I find 

the room filled 

with eight or 10 

people who are 

keenly interested 

in hearing everything 

about the 

factory outlet sector. 

This is won- 

derful, because I 

get the chance to 

Brendon O’Reilly 

educate the financial world on exactly 

how different outlets are and why it is 

such an important and strong investment 

opportunity.” 

Consumers already understand outlets, 

O’Reilly said during the panel discussion 

on investments, adding that shoppers 

don’t use the industry vocabulary, but 

they do know they’re getting good deals 

on high-quality merchandise. 

The panelists concurred that consumers 

know that shopping at outlet centers is an 

experience quite unlike shopping anywhere 

else, and their support of outlet shopping 

is driving the sector to completely outper- 

4 INterNatIONal Outlet JOurNal WINTER 2012 

At the iCSC/iOJ european Outlet Conference held in Milan in October, Chris Warren, Ben 

Alogo, Brendon O’Reilly and Neil Varnham discussed their experiences in attracting funding for 

outlet schemes. 

form traditional retailing today. 

If only the investment community 

had that same respect for outlet retailing, 

especially when the industry’s 

largest developers – McArthurGlen, 

Neinver and Value Retail – are posting 

robust year-on-year sales and footfall 

increases. 

Rather than becoming frustrated by 

the investment community’s lack of understanding, 

outlet executives are happy 

to continue the education process. 

Iestyn Roberts, CEO of Freeport 

Retail and chairman of the conference, 

said every discussion heard in the 

industry today focuses on a kind of yin 

and yang: back-tobasics 

and innovation. 

“Outlets have 

generally thrived 

in these hard 

times,” Roberts 

said. “But now 

comes the harder 

part. What is our 

role in what might 

be a fundamen- iestyn Roberts 

tally changed retail environment? None 

of us thinks the current economic 

adjustment is over, either at the corporate 

level or in terms of its impact on 

consumers. This means understanding 

what brands, retailers and consumers 

want from outlets. 

“We have to concentrate on our core, 

on our back-to-basics ideals of strong 

management, leasing and marketing,” 

he said. “We have to do our homework 

and study the sector, study the consumer 

and find ways to grow. The continuing 

economic downturn favors outlet shopping 

over traditional retail and outlets 

continue to make money. But as the 

point of differentiation with the high 

street narrows, the outlet sector must 

continue to innovate and attract new 

shoppers to maintain its role as a great 

visitor destination. 

“Outlets have always been more innovative 

than traditional full-price shopping 

malls,” Roberts said, “and where 

outlets lead, others will follow.” 

One problem though, is the lack of 

financing, particularly for small developers 

and for brands that want to expand. 

Chris Warren, partner-retail/head of 

leisure and factory outlets for Cushman 

& Wakefield, spoke about the buying and 

selling of outlet assets.

“There’s a lack of good stock,” he said, 

“and that could cause buyers to shift 

back to acquiring traditional centers in 

traditional markets. 

There is a 

significant pipeline 

of new outlet projects, 

particularly 

in Eastern Europe 

and emerging 

markets. But in 

emerging markets, 

it’s difficult to get 

retailers to commit 

to new schemes.” 

Thus, global investors are looking toward 

Western Europe rather than the currently 

more risky Central and Eastern European 

markets. Most investors, it seems, have 

their eye on Germany and are hoping outlet 

retailing will rapidly expand there. 

Rapid expansion carries the danger of 

potential saturation, a constant worry to 

the outlet sector, which doesn’t want to kill 

the goose that’s laying the golden eggs. 

“We see saturation, but how many outlet 

centers have the right management and the 

ability to survive?” asked Ben Alogo, fund 

manager for Neinver, now the second 

largest outlet-center owner in Europe 

after McArthurGlen. “We originally didn’t 

even think about acquiring centers for our 

portfolio, but the outlet concept is one we 

know and trust, and we have a strong pipeline. 

Our ability 

to move forward 

with debt financing 

is because we 

have such a good 

track record. 

It’s just about 

impossible for a 

one-off developer 

to get funding. 

Ben Alogo 

Chris Warren 

The risk-proof is 

higher for those 

who haven’t done it before. 

“There are a lot of small operators trying 

to manage one or two centers,” Alogo continued. 

“Centers can create a nice income 

stream, but this asset class requires intense 

management. An investor can’t just buy a 

center and collect the rent. The difference 

in centers that thrive and centers that don’t 

is the intense management necessary to 

guarantee long-term value.” 

Chris Warren echoed Alogo’s point 

about the importance of management. 

“With yield on the better centers at 

66.5 percent, management is the most 

important aspect,” he said. “The best 

centers also have good lease management, 

and by that I mean moving out 

the underperformers and moving in the 

high producers. It’s the only asset class 

in which value is solely based on performance 

rather than property value.” 

Fashion House’s O’Reilly said there 

are two tiers of owners. “There are 

developers whose sole purpose is to 

develop and manage outlet centers and 

build a portfolio, and there are the oneoffs, 

who want to develop and sell the 

asset as fast as possible.” 

Neil Varnham, director of European 

retail properties at Pradera, pointed out 

that outlet centers carry a substantial 

risk premium for the simple reason that 

they’re retail. “The valuation might not 

be where it should be,” he said, “because 

investors don’t understand the sector.” 

Alogo added, “It’s important to do a 

lot of research and do your homework. 

There are strong and weak centers in every 

market, so we have to look at each market 

and each center on a case-by-case basis.” 

Financing difficulties aside, 2011 was 

a strong year for outlet growth with the 

opening of six phase 1 outlet centers to- 

2011 phase 1 openings: 

adana Optimum Outlet Center, 

Adana, Turkey, Renaissance/Amstar 

Global partners, 56,060 m2 Coruna the Style Outlets, La Coruna, 

Spain, Neinver, 12,815 m2 Athens Designer Outlet, Yalou, Greece, 

McArthurGlen Group, 21,018 m2 Melilli Outlet, Siracusa, Sicily, 

Promos, 24,026 m2 Nailloux Fashion Village, Nailloux, 

France, Sanoux, 30,978 m2 Factory Krakow, Krakow, Poland, 

Neinver, 22,000 m2 3 significant expansions in 2011 

were all at McArthurGlen projects: 

Designer Outlet roermond, phase 3, 

Roermond, The Netherlands, 7,200 m2 Designer Outlet Parndorf, phase 4, 

Parndorf, Austria, 5,300 m2 la reggia Designer Outlet, phase 

2B, Naples, Italy, 4,500 m2 taling 167,000 m 2 , plus three extensions 

to outlet centers totaling 17,000 m 2 . 

Expansions are proving to be a good 

way to make a strong center stronger. In 

the U.S., Simon Property Group recently 

announced it would expand four outlet 

centers by a total of nearly 42,000 m 2 . In 

some markets, expansions are a way of 

telling would-be competitors to look elsewhere 

for new development opportunities. 

Looking forward, VRN/IOJ counts 

18 planned projects in 10 European 

countries that have scheduled openings 

for 2012. If all 18 planned 

projects were to open, even though 

history shows 

they all won’t, 

they would 

total more than 

370,000 m 2 . 

Who’s planning 

all these 

outlet centers? 

Neinver is busy 

with four; Fash- 

Neil Varnham 

ion House with 

three; Promos 

and Rioja with two each; and rounding 

out that group, with one center each, 

are Evo Land Development, Hines, 

IPEC, ITG/One Outlet Services, 

McArthurGlen Group, Mutschler 

Group and Stable International. 

Germany is the biggest hotspot for 

2012 outlet-center openings – four 

projects are scheduled to open there 

next year. France, Italy, Russia and 

Slovakia each could see two centers 

opening in 2012, and the remaining 

centers planned for 2012 are in Finland, 

Poland, Portugal, Serbia, Slovenia 

and Ukraine. 

Holding back development in Germany, 

which currently has just six outlet centers 

serving a population of more than 

80 million people, is the country’s restrictive 

planning regime. Developers must 

secure both federal and regional planning 

permissions, often a long process with 

no guarantee of success. Although some 

industry watchers think Germany can 

handle another 20 to 30 outlet centers, 

there are currently plans for around 15 

new projects there. 

In France, the recent changes in the 

previously tough planning system have 

resulted in a boost in applications. That 

increase is expected to help the country’s 

struggling economy. c 


FOC OpENINg updaTES 

Belaya Dacha ready 

for March opening 

HiNeS iNteRNAtiONAl Real Estate 

says it will open Outlet Village Belaya 

Dacha in March in the Moscow area 

town of Kotelniki. 

A joint venture of Hines and Belaya 

Dacha Group, the €120 million project 

is more than 75 percent pre-leased. 

Among the 75 tenants set to open in 

the 38,000-m2 center are Adidas, Bebe, 

Burberry, Cacharel, CK Jeans, Escada, 

Ferragamo, Lacoste, Miss Sixty, Timberland, 

Triumph and Ugg. 

Hines is already working on two more 

Russian projects: Kievsky Outlet Village 

in Moscow and Pulkovo Outlet Village 

in St. Petersburg. 

Fashion House Moscow 

will open in November 

FASHiON HOuSe GROuP will open 

its first project in Russia, Fashion House 

Outlet Centre Moscow, on November 

22 this year. Brendon O’Reilly, managing 

director of Fashion House Group said 

construction is under way and leasing is 

ahead of schedule. The handover date 

for tenants is July. 

Q-TEC, a Russian construction management 

company, is the general contractor 

for the project, which is 12 km from 

Moscow, on Leningradskoe Shosse, near 

the Sheremetyevo International Airport. 

The 28,641-m 2 center will be fully enclosed 

and have 192 tenants, a foodcourt 

and cafes, nearly 2,000 parking spaces 

and a children’s play area. Brands already 

signed up include Calzedonia, Econika, 

Incanto, Intimissimi, Henderson, Lacoste, 

L’Etoile, Puma and Ralf Ringer. 

Fashion House’s portfolio includes 

the management of three outlet projects 

in Poland as well as centers in Switzerland 

and Romania. The company has 

projects under development in Romania, 

Slovenia, Ukraine and Serbia and a second 

Russian site in St. Petersburg. 

kiev e95 obtains 

construction permit 

kieV e95 Outlet Centre, which 

could be the first outlet center in 

Ukraine, has jumped the first hurdle by 

obtaining its construction permit. The 

26,000-m 2 center will include 135 stores, 

2,300 parking spaces, a supermarket and 

an entertainment center. 


BlackOak Developments is moving rapidly toward opening Fashion Park Outlet 

this spring in Serbia. 

Serbia’s first FOC 

will open in March 

FASHiON PARk Outlet Center is 

scheduled to open in March as 

Serbia’s first outlet center. The 15,000m 

2 phase 1 is being developed by 

BlackOak Developments and will be 

operated by GVA Outlets. The center’s 

high-visibility highway site in Indjija is 

a 30-minute drive from the two major 

cities in Serbia – Belgrade and Novi 

Sad – and has a primary catchment 

of 2.8 million people. The open-air 

center has room to expand to 30,000 

m 2 and 125 stores. It will feature 2,000 

parking spaces, coffee bars, restaurants 

and a play area for children. 

Developers EVO Land Development 

and Chameleon Retail Centraleurope 

have already begun a promotional 

campaign – “Tourism + Kiev E95 

Outlet Centre” – to attract visitors to the 

scheme and the historical sites along the 

motorway. Kiev E95 is 30 minutes from 

Kiev’s city center. 

Outlet Park Szczecin 

80-percent leased, 

set to open mid-year 

Nike, BiG StAR, McArthur, Lancerto, 

4F and Puere are the latest brands to sign 

leases at Outlet Park Szczecin, the eighth 

outlet center in Poland but the first in the 

country’s West Pomeranian region. 

The €40 million center is being 

developed within BlackOak’s far 

larger mixed-use development 

that will include a traditional retail 

park, a logistics center and a business-style 

hotel. The total catchment 

is 4.1 million people living 

within a 90-minute drive. 

Tenants will include Adidas, 

Beosport, Bomar, Converse, East 

Pack, Ecco Shoes, Extreme Intimo, 

Fashion Company Multibrand, 

Levi’s, Lisca, Nike, Piquadro, 

Replay, Skechers, Time Out and 

Tommy Hilfiger. c 

According to Tomasz Domon, senior 

leasing manager at Echo Investment, the 

project’s developer, Outlet Park Szczecin is 

more than 80-percent leased. The center’s 

24,000-m 2 first phase is scheduled to open 

this summer. Phase 1 will have 70 stores, 

a seven-screen Helios cinema, 1,400 parking 

spaces, a Piotr i Paweł supermarket 

and an electronics shop. Construction of 

the 6,200-m 2 phase 2, which will have 60 

shops, will begin in late 2013. 

Vsf Creative came up with the concept 

and Studio A4 designed the project. 

The contractor is Polimex-Mostostal, 

and financing is through PKO BP. Outlet 

Park Szczecin is in the Prawobrzeże district, 

within an existing shopping center 

owned by Echo Investment.. c

VALUE RETAIL IS DELIGHTED TO ANNOUNCE 

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Opening Summer 2013 

The Chic Outlet Shopping ® Villages by Value Retail attract the most sought after international travelers 

and produce the highest sales densities for outlet shopping in the world. 

Bicester Village LONDON, Kildare Village DUBLIN, La Vallée Village PARIS, Las Rozas Village MADRID, La Roca Village BARCELONA 

Fidenza Village MILAN, Maasmechelen Village BRUSSELS, Wertheim Village FRANKFURT, Ingolstadt Village MUNICH 

The Chic Outlet Shopping ® Villages by Value Retail 

www.ChicOutletShopping.com | www.ValueRetail.com 

Suzhou Village and Chic Outlet Shopping ® are registered trademarks of Value Retail PLC. © Value Retail PLC 2011 10/11

EOC CENTER RECap OpENINg 

Neinver opens 4th 

Polish outlet center 

FACtORy kRAkOW teNANtS iNCluDe 

4F 

albione 

alzedionia 

atlantic 

Badura 

Barakuda 

Benetton 

Bergson 

Big Star 

Brand 

Bytom 

Campus 

Cerro torre 

Cocodrillo 

Coffee heaven 

Cross 

dajar 

dalia 

diverse 

ecco 

empik Café 

ewtex 

Filippo 

Frivol 

Gatta 

Geox 


Giacomo Conti 

Gino rossi 

Greenpoint 

hannah 

heavy duty 

In medio 

Inblu 

Intershoe 

JaSS 

Kastor 

Kazar 

Lancerto 

Lavard 

Lee Cooper 

Levi Strauss 

Lord 

mango 

martens 

mc arthur 

nike 

Ochnik 

Olimp 

Pompea 

Pretty Woman 

Puma 

Queen 

Factory Krakow opens 

in Futura Park, draws 

28,000 on opening day. 

Factory krakow, Neinver’s fourth 

outlet center in Poland, opened Oct. 

16 in Futura Park Krakow. The 

unusual complex has two main retail components, 

one full-price center and Factory 

Krakow, each comprising 22,000 m 2 . More 

than 28,000 people visited Futura Park on 

opening day, eager to sample outlet stores 

that include Tommy Hilfiger, Mango, Tom 

Tailor, Umbro, Reebok, Puma, Nike and 

Geox (see full list below) and full pricers 

Alma, CCC, SMYK Megastore, C&A, RTV 

Euro AGD, Kakadu, Super Pharm, Deichman, 

Carry, Matras, Triumph and Douglas. 

Futura Park was the first in Poland to 

obtain the BREEAM Europe international 

certification, which assesses design and 

construction using stringent sustainability 

parameters. The architectural design blends 

with the natural surroundings. Just 10 

minutes from the center of Krakow, one 

of Poland’s main tourist destinations, the 

outlet center has a catchment of 3 million 

potential customers. Futura Park in total 

will have 140 stores and 1,200 parking 

spaces. 

Quiosque 

rapper 

ravel 

ray Jay 

reebok 

reporter 

reserved 

Simple 

Soda 

Solar 

Step Inn 

Sunset Suits 

Szuz Szop 

tatuum 

tom tailor 

tommy hilfiger 

Umbro 

Venezia 

Vero moda 

Vip Collection 

Vistula 

Wilsoor 

Wittchen 

Wójcik 

Zebra

Factory krakow, which opened in October 

as Neinver’s 13th outlet project, has 

a tenant line-up that includes Benetton, 

Ecco, Geox, Nike and Tom Tailor. 

Factory Krakow is Neinver’s 13 th 

outlet center, bringing the company’s 

portfolio to 265,000 m2 in five countries 

(Spain, Poland, Germany, Portugal and 

Italy). In addition to the existing outlet 

centers in Poland (two in Warsaw, one 

in Poznan and now one in Krakow), the 

developer is also developing another 

center in the Annopol region of Warsaw. 

Neinver is implementing an ambitious 

expansion plan to capture 17 

percent of the European outlet market 

by the end of 2013. To achieve 

this, the company is developing 

160,000 m 2 of outlet property during 

the next three years. 

Roppenheim The Style Outlets will 

open in April in the wealthy Alsace 

region of France, near the German 

border. The 27,200 m 2 center is being 

developed with MAB Development. 

The center’s catchment includes 8.4 

million residents in the region and 27 

million annual visitors. 

Planned centers in Honfleur, France 

and Algarve, Portugal are also in 

Neinver’s pipeline. The developer has 

recently been talking about opening an 

outlet portfolio in Brazil. c 


CENTER OpENINg 

Melilli Outlet opens in Sicily 

it took nearly 10 years to develop, 

but the 15,000-m 2 phase 1 of Melilli 

Outlet, a Fashion District brand, 

finally held its long-awaited grand opening 

on September 16, 2011. 

“The project had been on the market 

for some time,” said Carlo Maffioli, 

chairman of Promos, which came on 

board in the spring of 2011 to handle 

leasing, marketing and management. 

“In these last few months we have worked 

intensely to inaugurate the first stores in 

the shortest possible time. The marketing 

activity is continuing, and more stores will 

open in the weeks immediately following 

the soft opening in September. We believe 

very strongly in this location and are certain 

the project will benefit the entire area 

of eastern Sicily, especially as the center 

will provide significant employment opportunities 

here.” 

The center is just 10 km from Siracusa, 

one of the most economically dynamic 

areas of Sicily. The sweeping project will 

be part of the Belvedere business district, 

which already has Auchan Shopping 

Center, Paradise Acquapark, Decathlon, 

Media World, a hotel, a sports center, an 

aquatic park and an office complex. 

Strategically located near the splendid 

beaches of the Ionian Sea and the 

extraordinary archeological sites of Siracusa, 

Melilli Outlet will draw shoppers 

from the 3.5 million annual tourist arrivals 

and more than 1 million households 

within a 60-minute drive. The center can 

be easily reached from the Belvedere- 

Siracusa Nord exit of the Superstrada 

114, which is the four-lane continuation 

of the Autostrada A18 from Catania. 

Melilli Outlet teNANtS iNCluDe 

Amunì Gelateria 

Arte Ottica 

Atelier Self Service 

Bialetti 

Bistrot Sucré 

Borsissime 

Camicissima 

Datch 

Dear Design 

DEB & Co. 

Diffusione Tessile (MaxMara Group) 

Eddicott 

Enrico Coveri 

Facis 


Melilli Outlet’s sleek modern design includes an elliptical shape, a moveable roof and 

multiple elevations with parking convenient to each level. 

Melilli Outlet’s modern design has an elliptical 

shape and multiple levels with parking 

on each. Open terraces overlook a large 

central plaza protected by a moveable roof 

Gattinoni 

Giunti al punto 

Golden Point 

Gruppo Sintesi 

Guru 

I Giochi di Malù 

IT Fashion Store (Gf Ferrè, Galliano, 

C’n’c Costume National, Extè) 

Lindt 

Liv’in De’ Longhi 

Mabapà Bar 

Modus 

Pompea 

VB Fashion (Miroglio Group) 

that ensures a comfortable shopping experience 

in all seasons. A 9,000-m 2 (GLA) 

phase 2 with 25 stores is also planned. 

Among the 104 tenants are Max Mara 

Group’s first Diffusione Tessile store in 

Sicily, expected to be the largest in Italy. 

Tecnall is the owner of the center and 

the exclusive licensee of the Fashion 

District trademark in Sicily. Tecnall’s use 

of the Fashion District trademark marks 

the first time such a licensing agreement 

has been put into place in Italy. Promos 

S.r.l., is handling marketing and management 

of the project. 

Promos S.r.l. is handling lease operations 

and promotion; center management 

has been assigned to Promanagement 

S.r.l., another company in the 

Promos Group. The total investment, 

financed by UniCredit, is €75 million.

We look after the brands as if they were our own. 

All the brands have their own interest but just one joins them all: selling. 

That’s why 800 of the world’s best brands put their trust in NEINVER. Because we are 

the second largest outlet operator in Europe, managing more than 265,000 sq.m. GLA and 

over 1,000 stores. Because we manage 13 outlet centers operating under the brands The 

Style Outlets and FACTORY in Spain, Italy, Poland, Portugal and Germany and 4 more 

about to be opened. 

And above all, because we make a commitment to our retailers to support them with all 

our experience. We recognize that the success of a brand is also ours. 

This is what has made us leaders. 

OUTLETS WITH 

THEIR OWN STYLE


Johor Premium Outlets 

opens in Malaysia 

the €37 million Johor Premium Outlets is a 50-50 joint venture between Simon 

Property Group of the U.S. and Genting Group of Malaysia. 


The 173,000-sf center, 

one hour from Singapore, 

introduces Southeast 

Asians to Western-style 

outlet retailing. 

On Dec. 11 Simon Property Group 

and Genting Berhad opened Johor 

Premium Outlets, the partnership’s 

first Premium Outlet Center in 

Southeast Asia. The 173,000-sf center 

opened with 80 stores in Johor Bahur, 

Malaysia. 

Johor Premium Outlets is close to Senai 

Airport, less than an hour’s drive from the 

city center of Singapore and about three 

hours from Kuala Lumpur. The develop

ment of the center has been eagerly 

anticipated and intensely covered by the 

Malaysian press, so it was really no surprise 

when the country’s prime minister, 

Yab Dato’ Seri Mohd Najib Bin Tun Hj 

Abdul Razak, officiated at the inaugural 

ceremonies. 

The €37 million Johor Premium 

Outlets, which introduces the concept 

of upscale outlet shopping to Southeast 

Asia, is expecting big crowds and 

is ready for them with 3,000 parking 

spaces and 30 tour bus bays. The site 

is between Resorts World Genting to 

the north and Resorts World Sentosa 

to the south, enabling Johor Premium 

Outlets to attract shoppers from 

Genting’s leisure and hospitality properties 

in this region. 

The center is a 50-50 joint-venture 

between the Genting Group and Simon 

Property Group, which operates 69 

outlet centers in the U.S, one in Puerto 

Rico, eight in Japan, two in South Korea, 

one in Malaysia and one in Mexico. 

Genting Berhad and its subsidiaries and 

affiliates operating under the “Genting” 

name, is recognized as one of Asia’s 

leading and best managed multinational 

companies. Five public companies 

operate under the Genting name with 

a combined market capitalization of 

about €24 billion. c 

JOHOR PReMiuM Outlet teNANtS iNCluDe 

Absolute Thai 

Adidas 

Akemi 

Armani Exchange 

Armani Outlet 

Baskin-Robbins 

The Body Shop Outlet 

Bonia (Opening Soon) 

Braun Buffel 

Brooks Brothers Factory Store (Opening Soon) 

Burberry 

Canali 

Carlo Rino 

Charles & Keith Reductions 

City Chain 

CK Calvin Klein 

Clarks 

Coach 

Coach Men’s 

Coffee Bean & Tea Leaf 

Cosmetics Company Store (Opening Soon) 

Cosmetics & Designer Fragrances 

Cotton On 

Cutting the ribbon at the December 11 opening of Johor Premium Outlets were (left 

to right) Tan Sri Lim Kok Thay, CEO of Genting; Yab Dato’ Seri Mohd Najib Bin Tun 

Hj Abdul Razak, Prime Minister of Malaysia; and John Klein, president of Simon’s Premium 

Outlets. 

Crispy Crepe 

DKNY 

Esprit 

Evita Peroni 

Fidani Chocolate 

Flow 

Fossil 

G2000 Outlet 

Gap Outlet 

George & Dragon Café 

Geox 

Guess 

Kampachi Japanese Restaurant 

La Senza Lingerie 

Lacoste Outlet 

Levi’s Outlet Store 

Maybank 

Michael Kors 

Nike Factory Store 

Oroton 

Padini Outlet Store 

Pedro Outlet 

Pink Jambu 

Polo Ralph Lauren (Opening Soon) 

Poney Outlet 

Puma 

Quiksilver 

Raoul 

Rip Curl 

Roxy 

Royal Selangor 

Salvatore Ferragamo Company Store 

Samsonite Factory Outlet 

Shanghai Tang 

Skechers 

Starbucks Coffee 

Swiss Watch Gallery (Opening Soon) 

Timberland 

Tomei 

Tommy Hilfiger (Opening Soon) 

Tumi 

Universal Traveller 

Versace (Opening Soon) 

Vincci 

Wear + When 

Zegna Outlet Store 



Shanjing Outlet Plaza-ningbo opens 

The second busiest 

port in the world gets 

an outlet center – and 

the crowds go wild. 

in the first two months after 

Shanjing Outlet Plaza-Ningbo 

opened in Ningbo City, Zhejiang 

Province, China, the project had 

already produced sales of more than 

€6 million. It is the first shopping 

venue in Ningbo to be exclusively 

tenanted by outlet stores. 

The 26,000-m2 center, which 

opened September 23, 2011, was 

developed by Shanjing Real Estate 

Development (Ningbo) Co., which is 

a joint venture of Shanshan Group, 

Mitsui Fudosan, Daito Woolen Spinning 

& Weaving Co. and Lanway 

Investment Co. The project is Mitsui 

Fudosan’s first foray outside Japan, 

but the developer of more than a 

dozen outlet centers in Japan has 

said it hopes to expand its portfolio 

in other parts of Asia. 

Shanjing Outlet Plaza Ningbo is 

about 150 km south of Shanghai 

but only 10 km west of the heart of 

Ningbo City, which has long been 

a trade center because of its location 

on the Yangtze River. Ningbo 

has been an important commercial 

port since the Tang Dynasty and is 

considered to be the world’s second 

busiest port in terms of cargo 

tonnage. In addition, the area is 

home to many spinning and apparel 

companies. 

The outlet center, adjacent to a 

highway interchange, will naturally 

draw from the 8 million residents of 

Ningbo, especially the families and 

20-somethings with cars, as well as 

affluent people in their 40s or older 

and tourists from surrounding areas. 

The center is also quite close to public 

transportation, and shuttle buses 

have been set up to run in two routes 

between the heart of the Ningbo 

City and the Shanjing Outlet. 

Designed with a nautical theme, Shanjing 

Outlet Plaza is broadly divided into 

ocean, city and green zones. The ocean 


the top photo shows just how avid Chinese shoppers are for brands at outlet prices – 

Shanjing Plaza Outlet is in Ningbo, one of the busiest ports in the world, with a nearby 

population of 8 million people. 

zone features waterscapes, fountains and 

ponds, and a large glass roof and glass curtain 

wall, accented with images of beaches. 

The city zone looks like a busy mart and 

is outfitted with tent canopies and brick 

walls. Stones, tiles and trees create a calm 

atmosphere throughout the green zone. 

The center’s two-level footprint features 

a circuit-type flow line of covered 

walkways, which is familiar to outlet 

shoppers in Japan. There is also a wellequipped 

playground for children. c

OVER THE TOP 

UNDER THE RADAR 

FASHION OUTLETS OF CHICAGO 

ROSEMONT 305. 932. 6202 

WWW.FASHIONOUTLETSOFCHICAGO.COM

NEW pROjECTS 

McarthurGlen chooses Vancouver 

The affluent city in 

Far Western Canada 

has caught the eye 

of Europe’s largest 

outlet developer. 

Canada has become the latest 

outlet hotspot, with Tanger 

Outlets, Simon Property 

Group and Cordish Company racing 

to open projects in the Toronto 

market. Now the largest European 

outlet-center developer is crossing 

the pond into Canada: London-based 

McArthurGlen Group, developer of 

20 outlet centers in eight European 

countries, plans to open a 340,000-sf 

project in Vancouver. 

Gary Bond, CEO of McArthurGlen 

European Development, told VRN/ 


IOJ that MCG has an agreement with 

the Vancouver Airport Authority to 

develop McArthurGlen Designer Outlet 

Vancouver. The 30-acre site is off 

Russ Baker Way, which is adjacent to 

Vancouver International Airport and 

links the city of Richmond (British 

Columbia’s fourth biggest city) with 

central Vancouver. The site stretches 

down to the Fraser River and is near 

Highway 99, the main road linking 

Vancouver with Seattle. The site is 

also on traditional Musqueam First 

Nation lands, owned by the Government 

of Canada and leased by Vancouver 

Airport Authority. 

More than 1.2 million people live 

within 30 minutes of the site and by 

2014, the population within 90 minutes 

is expected to be 2.8 million. The AHI 

in the market is €67,000. Chinese immigrants 

account for 16 percent of the 

residents in the market and 30 percent 

Outlets at the O2 

could open in 2014 

A 

NSCHutz Entertainment Group 

Europe (AEG), the operator and 

leasehold owner of the former 

Millennium Dome in Greenwich, 

England, has formed a partnership with 

retail fund manager Pradera to develop 

an outlet center in 200,000 sf of the 

existing project’s space. 

Now called the O2, the former 

Dome – shuttered when AEG took 

over 10 years ago – is one of the 

most successful music venues in the 

world, attracting 8 million concertgoers 

a year. AEG is said to be looking 

for an outlet center to increase 

daytime footfall at the O2. 

Pradera is an interesting partner, 

as its director is Neil Varnham, who 

several years ago led Henderson’s 

Global Fund to begin acquiring 

outlet centers. Henderson’s 

European Outlet Mall Fund now 

has ownership in 11 McArthurGlen 

outlet centers. 

AEG is continuing to optimize 

the property with further development, 

including a four-star hotel. 

Preliminary documents filed with 

the Greenwich Council show AEG 

and Pradera are planning a twolevel 

center that would open in two 

phases. If all the approvals are given, 

work is expected to start after the 

2012 Olympics end in mid-August. 

The opening of the O2 outlet center is 

planned for mid-year 2014. 

AEG’s core business is owning and 

operating a global portfolio of sports 

and entertainment arenas, including 

the Staples Center in Los Angeles, 

which was built for major league hockey 

and basketball teams owned by AEG 

chairman Philip Anschutz. 

AEG is also the second-largest 

concert promoter in the U.S., producing 

tours for such big-name acts as 

Black Eyed Peas, Justin Bieber, Paul 

McCartney and Bon Jovi. c 

in Richmond. 

Vancouver receives more than 8 million 

overnight visitors a year. Asians, 

particularly Chinese, are the second 

largest tourism group after visitors from 

the U.S. In 2010, China granted Canada 

the Approved Destination Status, which 

accounts for the influx and for the 57 

weekly flights from Vancouver International 

Airport to China, including direct 

service to Hong Kong, Beijing, Shanghai 

and Guangzhou. 

Construction on the 200,000-sf phase 

1 will start in the second half of this 

year with the opening planned for 2014. 

“We are looking forward to finalizing 

plans and contracts with the Airport 

Authority by June 2012,” Bond said. 

Bond said the decision to develop a 

center in Vancouver came from the brands 

themselves, who want to reach Asian 

shoppers. Also, Canada’s business-friendly 

environment is similar to Western Europe, 

and with U.S. developers racing to open 

centers in Toronto, MCG sees Vancouver 

as a less competitive market. 

“The advantage of Vancouver is that 

there is no outlet competition,” Bond 

said. “There is also less retail space in 

Vancouver when compared with Toronto: 

14.1 square feet per person in Vancouver 

compared with 22.4 in Toronto.” 

Bond added that MCG will focus its marketing 

on the 60-minute catchment around 

Vancouver. “We really see the Chinese 

diaspora in Vancouver as providing a strong 

link with Chinese consumers in China.” 

Danish developers 

plan Copenhagen’s 

second outlet center 

Danica Pension, the investment arm 

of Denmark’s largest bank, Danske 

Bank, plans to develop Denmark’s second 

outlet center. The site of the 16,000-m2 

Copenhagen Designer Outlets is alongside 

the 36-year-old City 2 shopping 

center on the outskirts of Copenhagen. 

The project, due for completion in 

March 2013, will be undertaken by 

Danica Pension in cooperation with its 

holding company Danica Ejendomme. 

The developer has appointed UK-based

Ptak thinks BIG with FOC 

in the middle of Poland 

Ptak Outlet, which is 

aiming to become the 

largest outlet center 

in Poland, is under construction 

and on schedule to open 

at the end of this year. 

The project, being developed 

by Ptak Holding, is 

unusual in a number of 

ways: (1) its location in the 

very middle of Poland, 10 km 

from Lodz, (2) its association 

with the mammoth Ptak 

Trade Center, and (3) the 

long-range plans for the complex. 

Since 1993 Ptak Trade Center, the 

largest wholesale facility in Poland 

and possibly the largest in Europe, 

has been the clearinghouse for thousands 

of unbranded goods that are 

sold to some 2,500 companies who 

buy the product and brand them with 

their own labels. The 1.3 million-sf 

trade center operates from 6 a.m. to 

2 p.m. on weekdays for wholesalers, 

and on weekends it is open to the 

public. Although shoppers can visit 

only two days a week, the trade center 

draws some 6 million shoppers a 

year from Russia, Belarus, Ukraine, 

Lithuania, Latvia, Estonia, the Czech 

Republic, Slovakia, Hungary, France, 

Romania and Germany. 

outlet specialist Ream International as 

the development, management and leasing 

consultant on the project. 

The enclosed center will be an 

adaptive reuse of space that previously 

housed a hypermarket and an electronics 

retailer. The location, which attracts 

4 million visitors a year, is near Ikea and 

other big box retailers. The developers 

expect Copenhagen Designer Outlets to 

attract 1.5 million visitors in the first year. 

The redesign, being handled by architectural 

firm Haskoll, will create space for at 

least 80 tenants, in a street-style layout. 

The first outlet center in Denmark, 

the 135,000-sf Premier Outlets Center 

Denmark in Ringsted, opened in 

2008. The center is owned by Miller 

the site of the 300,000-sf planned Ptak Outlet in Lodz, Poland is adjacent to Ptak Trade Center, 

possibly the largest wholesale facility in Europe at 1.3 million sf. 

Expecting to attract those shoppers 

and more every day, the site for Ptak 

Outlet is adjacent to the trade center, 

next to the DK1 national highway connecting 

Cieszyn and Gdańsk. The site is 

also at the junction of the A1 motorway 

and S8 expressway and is just 12 km 

from the international airport in Lodz. 

The 300,000-sf PTAK Outlet is being 

constructed on an 864,000-sf site that 

will include 1,000 parking spaces, as 

well as several activity zones, including 

a permanent Expo building with 

exhibition and trade halls, a conference/congress 

center, a hotel, and 

other business support services. 

The project’s architecture will reflect 

19th Century industrial Lodz. The 

center, more than 50-percent pre- 

Development and TK Development 

and managed by Freeport. 

Advantail, Catinvest 

move forward on 

West Paris Outlet 

Advantail and Catinvest are well 

under way on the West Paris Outlet, 

a 21,000-m2 project scheduled to open in 

June 2013. Work began on the project in 

April 2011 at the entrance of Grand Plaisir, 

a large regional mall that’s 27 km west 

of Paris, and just 10 km from Versailles. 

The developer expects to have roofing 

completed by November and the walls and 

leased in mid-January, will have 140 

tenants, including Puma, Adidas and 

Reebok. Blue Ocean Investment Group 

is providing funding for the project. 

Poland is no stranger to outlet 

retailing. The country’s cash economy 

and brand-conscious shoppers have 

embraced the concept in seven existing 

centers: Fashion House Outlet Centres 

in Gdansk, Sosnowiec and Warsaw, 

plus Neinver’s Factory malls in Krakow, 

Poznan, Warsaw and Wroclaw. 

In addition to Ptak’s planned opening 

this year, two other Polish outlet 

projects are set for completion in 

2012: Neinver’s Factory Warszawa 

Annopol and Echo Investment’s 

Outlet Park Szczecin, in Western 

Poland, near the Baltic Sea. c 

windows installed by February 2013, with 

turnover to tenants quickly following. 

Franck Verschelle, who founded 

Advantail six years ago, told IOJ that 

the €100 million outlet center “will be 

very modern, a two-level, open plan 

with a covering.” 

The 11 million people living within 

a one-hour drive of the site post an 

average household income twice the 

national average. Additionally, the catchment 

includes the 50 million French and 

foreign tourists who visit Paris, Versailles, 

and numerous other attractions 

within 50 km, such as a dozen castles, 43 

museums and the luxurious Saint-Nom- 

La-Bretèche golf course. The West will 

be open seven days a week. c 


lEaSINg aCTIvITy 

New tenants join 

MCG’s uk schemes 

NeW teNANtS JOiNiNG Cheshire 

Oaks Designer Outlet in Chester, England, 

include Reiss and Gant. Reiss is 

known for luxury men’s and women’s apparel 

and accessories, and Gant is known 

for traditional apparel. Cheshire Oaks, 

now part of Henderson’s European 

Outlet Mall Fund, was developed in 

1995 by McArthurGlen, which remains 

the center’s operator and shareholder. 

The 337,000-sf center is in the historic 

town of Chester in northwest England 

near the border of Wales. Other retailers 

include Armani, Adidas, Hugo Boss, 

Michael Kors, Nike and L.K. Bennett. 

Brooks Brothers recently signed 

up for space at Aviva Investors’ York 

Designer Outlet. The 243,000-sf York 

center was developed in 1998 by MCG, 

which remains the center’s operator and a 

shareholder. Other retailers include Bose, 

Calvin Klein and Holland & Barrett. 

MCG’s 12-year-old, 183,000-sf Ashford 

Designer Outlet in Kent has two 

new tenants: Guess and Petit Bateau. 

london Designer Outlet 

signs two anchor tenants 

Nike AND GAP will join London 

Designer Outlet as anchors when the 

280,000-sf center opens in 2013. Nike 

is planning a 9,182-sf flagship, and Gap 

will dominate the first floor with an 

8,235-sf unit. LDO is part of an 85-acre 

regeneration project to transform land 

surrounding Wembley Stadium and 

Arena. Development specialist/owner 

Quintain Estates & Development is creating 

85 retail units, 15 restaurants, plus 

cafes and a nine-screen Cineworld. 

14 tenants join 

Resolution’s two 

French centers 

A tOtAl OF 14 new tenants have 

joined Resolution Property’s two outlet 

centers in France, McArthurGlen Roubaix 

and McArthurGlen Troyes. 

New to Roubaix are Desigual, Honey 

& Pie and Signature d’Hommes. Lacoste 

and Weil 1868 have signed renewals. 

The Roubaix center, which opened in 

1999 in Lille, was acquired by Resolu- 

(Continued on page 20) 


Gloucester Quays, which opened in 2009 with 220,000 sf, will grow to 350,000 sf 

when its expansion opens in 2013. 

gloucester Quays signs 

White Stuff, renewals 

JuSt BeFORe CHRiStMAS, lifestyle 

brand White Stuff opened a 1,597sf 

outlet store at Gloucester Quays 

Outlet Centre, bringing the total 

number of retailers at the scheme to 

60. White Stuff, which operates more 

than 80 full-line stores in the UK and 

an online site, is known for its men’s 

and women’s apparel and accessories. 

As of mid January, White Stuff 

was the latest tenant to sign up at 

Peel Group’s €480 million scheme. 

Sports brand Asics was set to 

open this year, and White Company 

recently relocated to a space 67 

percent larger than its previous 

one. LK Bennett, Le Creuset and 

Osprey of London have also relocated 

and renewed leases. 

Adrian Wright, leasing director 

for Gloucester Quays, said trading 

is significantly improving at the center. 

“Over our 12-week Christmas 

period we welcomed close to 600,000 

shoppers – up 20 percent from last 

year. We’re expecting to continue this 

positive trend into the New Year as 

more tenants come on board and our 

calendar of signature events begins.” 

Jason Pullen, managing director 

of Gloucester Quays, said outlet 

centers are poised to help brands 

that are under increasing pressure 

from the rising cost of raw mate- 

rials. “We will be working hard 

to create the best possible trading 

environment – including steady 

rents – for tenants. This year will 

test good management from both 

retailer and landlord perspectives. 

“Retailers will be managing their 

cash-flow very carefully,” Pullen 

added. “With inflation running at 

around 5 percent, there will be 

some flexibility on pricing, but not 

much as pressure will come from 

all quarters. It’s a zero-sum game 

– any business that can maintain 

2011 sales levels this year will be 

doing incredibly well.” 

Pullen said outlet centers must 

deliver the highest combination of 

shops, restaurants, bars and leisure 

facilities to become destinations 

with increased dwell-time. To 

that end, Peel has submitted plans 

to Gloucester City Council for The 

Quayside, a €72 million leisure and 

retail expansion. 

Gloucester Quays, which opened 

in 2009 with 220,000 sf, will grow 

to 350,000 sf when The Quayside 

opens in autumn 2013 with additional 

retail, 11 restaurants and a 

10-screen, 1,600-seat cineplx. Key 

existing tenants in the outlet center 

include Next Clearance, Marks & 

Spencer Outlet, Nike and Gap. c

glObal NEWS 

Dubai Outlet Mall turns 

economic dust into gold 

the challenging economic climate 

and the gloomy days of the business 

downturn have been more friend 

than foe to Dubai Outlet Mall, says Vishal 

Mahajan, the 750,000-sf mall’s director. 

“We have recorded year-on-year 

double-digit growth in customer footfall 

and sales,” he said, “with an increase in 

footfall of more than 25 percent and an 

18 percent increase in sales.” 

Mahajan attributes the upticks to 

shoppers becoming more value-oriented 

and to his center’s strong marketing 

program. DOM vigorously uses 

Facebook, Twitter, LinkedIn, YouTube, 

Google and Foursquare to communicate 

directly with thousands of customers 

daily, promoting mall activities, answering 

queries and building relationships. 

Additionally, DOM publishes a slick 

consumer magazine filled with beauty 

and fashion tips, upcoming promotions 

and events, suggestions for great places 

for dining and entertainment, and, of 

course, the mall’s tenant list. Glowing 

descriptions of new tenants and fashion 

spreads on trends, such as beachy, bohemian 

and city-girl looks fill the pages. 

All the fashions featured in the 52page 

magazine are pulled from stores 

in the mall by DOM’s editor and public 

relations manager Maryam Ensan and 

photographed on-site. The publication 

has the look and feel of a top fashion 

magazine– it even has recipes and 

horoscopes – and is distributed for free 

throughout Dubai, at hotels and restaurants 

frequented by traveling shoppers. 

Globally, Dubai is recognized as one 

of the top shopping destinations in the 

(Continued from page 18) 

tion in August 2011 and is still being 

managed and leased by MCG. The new 

leases and renewals account for 11 percent 

of the center’s 191,600 sf of GLA. 

The 11 new tenants at Troyes are 

Amorino, Basler, Carroll, Chevignon, 

Desigual, Fossil, Hugo Boss, NAF NAF, 

SIA, Subway and Un Jour Ailleurs. 

Among the 17 tenants that renewed their 

leases in the 306,000-sf Troyes center are 

Mexx, Apostrophe, Bayard, Mephisto, 


world, and DOM captures a large share 

of these traveling shoppers with free 

shuttle buses to major hotels and with 

the Outlet Plus loyalty program, which 

gives extra bargains to card holders. 

Shopping events are especially important 

in Dubai, and DOM is a strong 

participant. Last summer’s month-long 

Amazing Thailand promo introduced 

visitors to Thai culture, handicrafts, 

dance and food. Spend and Win, which 

ran from Jan. 5 to Feb. 5, gave any 

shopper who spent €55 at the mall a 

chance to win a Jeep Wrangler Sahara 

Unlimited vehicle. Another January 

highlight was the exclusive and colorful 

Kite Festival – the first in the United 

Arab Emirates – and in February, the 

mall held a Star Hunt competition. 

Now that the outlet concept is gaining 

acceptance in the region, big fashion 

names are joining the mall’s 240-store 

line-up, said Mahajan, who was a featured 

panelist during ICSC’s 2011 RECon 

Middle East held in Dubai in November,. 

Tenants include Adidas Originals, Aldo, 

Burberry, Cole Haan, Diesel, Guess, Kenneth 

Cole, Kert Geiger, Liu Jo, Mango, 

Mario Bruni, Massimo Dutti, Nike, Nine 

West, Pal Zileri, Parah, Puma, Sacoor 

Brothers and Tommy Hilfiger. 

The mall also features multi-branded 

stores, such as Rodeo Drive Outlet, Bugatti 

Outlet and Etoile Outlet, that carry 

Calvin Klein, Celine, Chanel, Dolce & 

Gabbana, Etro, Givenchy, John Galliano, 

Lacoste, Lanvin, Mark Jacobs, 

Missoni, Nina Ricci, Oscar de la Renta, 

Ralph Lauren, Roberto Cavalli, Stella 

McCartney, Valentino and more. 

Columbia and Guess, which is expanding. 

The new leases and renewals account 

for 20 percent of the center’s GLA. 

One Fashion Outlet 

announces four more 

for Slovakian center 

One Fashion Outlet, scheduled to 

open this spring in Voderady, Slovakia, 

on the outskirts of Bratislava, recently 

announced four new tenants: Jelly 

Dubai Outlet Mall produces a wellconceived 

consumer magazine that promotes 

shopping, fashion and tourism to 

visitors and locals. 

Dubai Outlet Mall, developed and 

opened by Al-Alhi Group in 2007, is at 

Dubailand on Dubai-Al Ain Road (Route 

66). It is open Sunday through Wednesday, 

10 a.m. to 10 p.m., and Thursday through 

Saturday, 10 a.m. to midnight. c 

Belly, Puma, Marina Rinaldi and Alpine 

Pro. The tenants will be part of the 

project’s €75 million phase 1. Other 

tenants already confirmed for Realiz/ 

Rioja Developments’172,800-sf center 

include Nike, Lindt, Levis, Benetton, 

Tom Tailor and Esprit. 

A 120,000-sf phase 2 is already planned 

to open in spring 2013, with a 108,000-sf 

phase 3 following. The center’s catchment 

includes Slovakia, the Czech Republic, 

Austria and Hungary. c

Value retail’s China news, and more ... 

Value Retail, developer and 

operator of nine Chic Outlet 

Shopping Villages in Europe’s 

major markets plans to develop five 

European-style outlet centers in China 

over the next three to five years. The 

first center will open in the Shanghai 

market in the summer of 2013. 

Leslie Chao, the former CEO of 

Chelsea Property Group and driver of 

Chelsea’s Asian expansion, has been 

named chief executive of Value Retail 

in China. Chao has been associated 

with Value Retail since its creation in 

1992, and he currently serves as a nonexecutive 

director of the company. 

The 250,000-sf phase 1 of the 

Suzhou Village Chic Outlet Shopping 

will open with 125 tenants and 

ultimately will total some 600,000 sf 

and 300 tenants. Value Retail already 

owns the site, which is 50 miles west 

of Shanghai near the Suzhou exit of 

the Nanjing-Shanghai Expressway. 

The site is also served by two highspeed 

rail lines that connect Shanghai 

to Nanjing and Beijing, each with a 

train station near the site. More than 

40 million people live within a onehour 

drive of the site, and more than 

80 million live within three hours. 

Value Retail’s Chinese centers will 

be developed in the Beijing, Shanghai, 

Guangzhou and Hong Kong markets 

and will mirror the developer’s outlet 

villages in Europe, with the focus on 

McArthurGlen Cheshire Oaks in Chester, England saw double 

digit increases in sales and footfall during the holidays. 

luxury and fashion brands. 

european staff additions 

With plans in China in full swing, Value 

Retail is continuing to build its European 

team with three key positions. 

James Bidwell joins Value Retail as 

chief marketing officer, a newly created 

role. With more than 20 years of 

international marketing and branding 

experience, Bidwell has held leadership 

positions at Selfridges & Co. and Visit 

London, where he was CEO. He was 

most recently managing director of 

Anthropologie Europe. He will lead all 

of the portfolio’s marketing, brand and 

communications strategies. 

Patricia Dimond joins Value Retail 

as business director. Her experience, 

which spans two decades, includes 

stints with Mothercare, Storehouse, 

McKinsey & Co. and L’Erin Cosmetics, 

where she was VP and CFO. 

Jean-Christophe Descas joins Value 

Retail as group commercial director. A 

20-year veteran of international sales, 

retail and finance, Descas has held senior 

leadership positions at Gap, Marks & 

Spencer and Brooks Brothers. He most 

recently served as VP- sales and business 

development for Alain Figaret. 

International shopper growth 

In other news, the nine shopping 

villages recorded a 78 percent increase 

in visitors from Southeast Asia during 

the 3rd quarter of 2011. These ad- 

ditional visitors, whose favorite centers 

were Kildare Village near Dublin and 

Bicester Village near London, resulted in 

a 54 percent growth in tax-refunded sales 

compared to the same period in 2010. 

Shoppers from China made the most 

visits to the Chic Outlet villages, followed, 

in order, by shoppers from the 

Middle East, Russia, Southeast Asia 

and Hong Kong. 

Average spend on refunded transactions 

grew in the 3rd quarter as well, 

increasing 3 percent for shoppers from 

Singapore, Malaysia, Thailand and Indonesia. 

The average global customer spend 

at the centers is €275. 

Boxing Day bonanza 

In the 4th quarter 2011, Bicester Village 

had its busiest day ever on Boxing 

Day as more than 30,000 shoppers 

flocked to the 286,800-sf center. Motorists 

waiting to get a parking space triggered 

huge queues, causing traffic jams 

back to the A34 and the M40. 

The center provided a park-and-ride 

service with 500 extra parking spaces at 

Bicester Garrison and 300 more at Bicester 

Community College, but they quickly 

filled. Shoppers even abandoned their 

cars on the A41, causing police to shut 

one side of the road between the Oxford 

Road and London Road roundabouts. 

The center, which opened in 1995, also 

stayed open until 9 p.m. on Boxing Day 

for the first time. c 

MCG’s uk centers post robust 

sales and footfall numbers 

MCARtHuRGleN’S SeVeN uk centers posted robust sales 

and footfall increases during the 2011 holiday selling season. 

The developer reported in mid-January that for the yearon-year 

period of November 7 through December 31, sales 

increased 11.6 percent and footfall increased 11.1 percent. 

The December period saw consistent strong trading with 

annual sales and footfall uplifts of 15.4 percent and 14.3 percent, 

respectively. For the period, the two best selling days 

were December 27 and 28. 

The biggest year-on-year sales increases were in designer 

collections (+56 percent), accessories (+44 percent) and 

perfumes and cosmetics (30 percent). 

The seven centers in MCG’s UK Group are in Ashford, 

Bridgend [Wales], Cheshire Oaks, East Midlands, Livingston 

[Scotland], Swindon and York c. 


HERE aNd THERE 

Freeport Retail is 

in an expansive mood 

PRiVAte eQuity FiRM Carlyle 

Group has refinanced Freeport with 

funding from the Middle East. Following 

the refinancing, Carlyle created a 

new entity for Freeport’s property management 

team, Freeport Retail, to provide 

specialist outsourced asset management 

services and is working with real 

estate investors across Europe. Freeport 

has seen significant success in its performance 

since its acquisition by Carlyle 

in 2007. From June 2010 through June 

2011, the portfolio showed a 22 percent 

increase in net income. 

Freeport CEO Iestyn Roberts told 

VRN in Cannes in November that the 

restructuring allows the developer to 

look at new projects as well as thirdparty 

management. “It feels like the 

floodgates are opening,” he said. The 

company is eyeing sites in the Netherlands, 

Germany and France, and has 

taken on the operations role of Premier 

Outlets Center Ringsted in Denmark, 

which opened in 2008, and One Fashion 

Outlet in Bratislava, Slovakia, due 

to open in April. 

“And in the last three or four months, 

all of a sudden, brands are interested in 

opening more stores,” Roberts said. “It’s 

the economy.” c 

iCSC World Summit 

scheduled in September 

eVeRy FiVe yeARS ICSC hosts the 

Retail Real Estate World Summit, 

which provides a platform for professionals 

from around the world 

to discuss the global importance 

of retail real estate. This year ICSC 

will host the World Summit on Sept. 

12-14 at the Shanghai International 

Convention Center in China. 

The conference will feature a full 

day of deal making, more than 60 

exhibition stands showcasing the 

most important companies around 

the world, and a study tour visiting 

four local shopping centers. 

For more information please visit 

www.icsc.org/rws. Should you have 

additional questions, please contact 

Jorge Lizan at jlizan@icsc.org. c 


luca de Ambrosis Ortigara (top photo), managing partner of DEA Real Estate 

Advisors, prepares to paste a winning thwack down the line at the 6th Annual 

Cannes Tennis Tournament; tennis fans Sebastian Sommer and Thimo Schwenzfeier 

of Nienver socialize with doubles teammates Sebastiano Jaksetich of SJ International 

and Pieter Van de Voorst Vader of McArthurGlen. 

Outlet tennis a grand slam 

t he 

6th Annual Cannes Tennis 

Tournament, that worldfamous 

sporting event that 

draws the finest racqueteers from 

all over the world of outlet retailing, 

was held in November in front of a 

record-breaking crowd of 30 spectators 

and 26 participants. Players and 

guests arrived from Italy, Switzerland, 

Germany, Denmark, Netherlands, 

Ukraine, Russia, Estonia, UK and 

France, and three would have represented 

the U.S., but they got lost. 

The participants, properly clad 

in their tennis whites, pinks, blues 

and yellows, set the crowd gaping 

with their flurry of volleys, halfvolleys, 

serve and volleys, smashes 

and topspins, not to mention the 

occasional sledgehammer. Sizzling 

backhands sent shots crosscourt, 

and powerhouse aces drew cheers 

and whistles from the wait staff and 

gardeners. 

The audience, whilst happily shoveling 

croissants in their mouths and 

slugging down cappuccinos by the 

gallon, managed to mutter muted 

growls at players who foot-faulted, 

defaulted, dinked and poached. Line 

judges did their jobs, though, calling 

out lets (out lets!) and watching 

where lobs landed. 

When all was said and done, Italian 

Stallions Luca de Ambrosis Ortigara 

and Stefano Barbieri carried off the 

trophy after an excellent 6-3 finish 

against the highly accomplished 

Bad Boys Kristofer Juergensen and 

Christoph Berendes. Adidas and 

Fossil sponsored the globally recognized 

event, which was, as always, 

organized by the gracious and honorable 

Neil Chapman. c

All roads 

lead to 

Castel 

Romano 

Designer 

Outlet 

ITALY; SERRAVALLE, BARBERINO, CASTEL ROMANO | AUSTRIA; PARNDORF | THE NETHERLANDS; ROERMOND 

GERMANY; BERLIN, HAMBURG | BELGIUM; DOC LUXEMBOURG | UK; CHESHIRE OAKS, SWINDON, BRIDGEND www.henderson.com/property 

Castel Romano Designer Outlet 

The third phase of the Castel Romano Designer Outlet, located just 20 km from Rome, has commenced building 

works and is scheduled to open by Spring 2013. The new extension will see the addition of 8,000 square metres of 

retail space and 44 new stores, adding to the existing 24,000 square metres and 116 stores. The outlet is owned by 

Henderson Global Investor’s European Outlet Mall Fund and managed by McArthurGlen. 

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.

FASHION HOUSE Outlet Centre, Moscow 

FASHION HOUSE Moscow is a 45 minute drive from the centre of Moscow, 

on the main highway connecting Moscow with St.Petersburg, immediately 

adjacent to Sheremetyevo Airport. The Outlet Centre will be a fully enclosed 

scheme, built in keeping with traditional Russian architecture and totalling 

some 28,765 m² GLA with 192 Outlet stores, dedicated Foodcourt and over 

1,865 car parking spaces. 

leasingmoscow@fashionhouse.com 

FASHION HOUSE Outlet Centre, St. Petersburg 

FASHION HOUSE St. Petersburg will be located in the south-west part of the 

city totalling 37,000 m 2 GLA with 172 store units, dedicated Foodcourt and 

1,200 car parking spaces. The external architecture of this Outlet Centre 

has been inspired by typical buildings from the Low Countries, with which 

St. Petersburg has had trading and cultural links for centuries. 

leasingstpetersburg@fashionhouse.com 

www.fashionhouse.com 

24 INterNatIONal Outlet JOurNal SpRINg 2008 

Russian Outlet Market Made Easier 

FASHION HOUSE Group is the leading Developer/Operator of Outlet Centres in CEE & Russia 

and is an expert in opening emerging Outlet markets, for both Developers and 

Tenants. The current FASHION HOUSE Outlet Centre portfolio involves the management 

of three successful, award-winning Outlet Centres trading in Poland (now owned 

by Polonia Property Funds) and ownership of a fourth in Bucharest, Romania. 

Currently leasing are the two FASHION HOUSE developments being built in Moscow 

and St Petersburg, opening up the exciting Russian market. Also now committed 

is the third development, with an ideal site in Yekaterinburg. To complete the 

dominance of CEE markets, the first Outlet Centre in Ukraine is now committed 

as a FASHION HOUSE project, on the outskirts of Kiev, to open by Easter 2013. 

Further afield, partnerships in the Asian markets are in place. 

FASHION HOUSE Group offers developers and investors the full range of Outlet sector 

services in development, project management, leasing, operational management and 

asset management, whilst being able to introduce international Tenant occupiers 

to emerging consumer markets that provide recognised growth opportunities. 

With a proven formula for success and a commitment to future growth, there 

isn’t an easier way to access the new Outlet markets than with FASHION HOUSE Group. 

Gdańsk 

Warsaw 

Sosnowiec 

St. Petersburg 

Bucharest 

Kiev 

Moscow 

Yekaterinburg 

Opening 

November 

2012 

Opening 

September 

2013

PtAk Outlet - Value Retail News

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