EurOpEaN OpENiNgS europe flush with new FOCs Six grand openings and at least 3 expansions add 162,000 m2 of outlet GLA to Europe By lINDA HuMPHERS Editor in Chief The economy might be wretched and funding as scarce as hens’ teeth, but outlet developers have hosted at least six delirious parties this year in celebration of their newly opened GLA. Depending on how you count them, by the end of this year four, five or maybe even six phase 1 outlet centers will have opened in Europe. Four of those phase 1 openings are projects in France, Greece, Sicily and Spain that have added more than 88,000 m2 to Europe’s total outlet GLA. (See stories on Coruna, ˜ Athens, Melilli and Nail- loux in this issue). McArthurGlen, which has been rolling out new space with a vengeance, also relaunched the former Factory Shopping Messancy in April. The center was completely renovated and remerchandised to <strong>Designer</strong> <strong>Outlet</strong> Luxembourg, but it continued operating during the extreme makeover. Even though MCG calls the opening a phase 1 project, it didn’t add new GLA to the industry total, so we’ll opt not to include it in the new-projects list. 4 InternAtIOnAl <strong>Outlet</strong> JOurnAl Fall 2011 <strong>Designer</strong> <strong>Outlet</strong> Athens <strong>Designer</strong> <strong>Outlet</strong> Parndorf Another project that might or might not be included on the phase 1 opening list is the 56,000-m2 Adana Optimum <strong>Outlet</strong> Center. The reason for our hesitation is that this center is in Turkey, and we’re never sure where to put Turkey – in Europe or the Middle East. But any outlet center that can draw 280,000 shoppers during its grand opening week deserves to be on the list. There were also three significant expansions to McArthurGlen projects in Austria, Italy and The Netherlands, which added another 17,000 m2 to the total. Expansions are proving 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 m2. 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; Fashion 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 <strong>Outlet</strong> Services, McArthurGlen Group, Mutschler Group and Stable <strong>Outlet</strong> Management. 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. c European Phase 1 <strong>Outlet</strong> Openings in 2011 CENTER lOCATION DEVElOPER 2011 OPENING GlA SF GlA M 2 Adana Optimum <strong>Outlet</strong> Center adana, turkey renaissance/ amstar Global partners april 602,800 56,060 ~ ~ ~ Coruna The <strong>Style</strong> <strong>Outlet</strong>s Coruna The <strong>Style</strong> <strong>Outlet</strong>s La Coruna, Spain neinver may 137,800 12,815 <strong>Designer</strong> <strong>Outlet</strong> Athens Yalou, Greece mcarthurGlen Group June 226,000 21,018 Melilli <strong>Outlet</strong> Siracusa, Sicily Promos SrL September 258,342 24,026 Nailloux Fashion Village nailloux, France SanOUX SCI november 333,100 30,978 Total 2011 phase 1 GlA 1,558,042 144,897 Expansions to Existing <strong>Outlet</strong> Projects Opening in 2011 <strong>Designer</strong> <strong>Outlet</strong> Roermond, Phase 3 roermond, the netherlands mcarthurGlen Group august 77,760 7,200 <strong>Designer</strong> <strong>Outlet</strong> Parndorf, phase 4 Parndorf, austria mcarthurGlen Group September 57,240 5,300 la Reggia <strong>Designer</strong> <strong>Outlet</strong>, phase 2B naples, Italy mcarthurGlen Group September 48,000 4,500 Total 2011 expansion GlA 183,000 17,000 Source: VRN/IOJ
© <strong>Value</strong> <strong>Retail</strong> PLC 2010 THE Chic <strong>Outlet</strong> Shopping® VILLAGES Discover Europe’s leading luxury outlet shopping experience, created and operated by <strong>Value</strong> <strong>Retail</strong> www.Chic<strong>Outlet</strong>Shopping.com Bicester Village, London • La Vallée Village, Paris • Fidenza Village, Milan Las Rozas Village, Madrid • La Roca Village, Barcelona • Ingolstadt Village, Munich Maasmechelen Village, Brussels / Düsseldorf • Wertheim Village, Frankfurt • Kildare Village, Dublin Alexander McQueen, Anya Hindmarch, Armani, Bally, Burberry, Calvin Klein, Carolina Herrera, Celine, DKNY, Diane von Furstenberg, Diesel, Dior, Dolce & Gabbana, Dunhill, Ermenegildo Zegna, Façonnable, Givenchy, Gucci, Hugo Boss, Jimmy Choo, La Perla, Loewe, Loro Piana, Marni, Matthew Williamson, Max Mara, Mulberry, Paul Smith, Polo Ralph Lauren, Salvatore Ferragamo, Smythson, TAG Heuer, Tod’s, Valentino, Versace and many more RUN BY RETAILERS AND SERVING RETAILERS 19 BERKELEY STREET, LONDON W1J 8ED, ENGLAND +44 (0)1869 323 757 WWW.VALUERETAIL.COM