Loving Outlet Shopping - Value Retail News

COVER STORY
(Continued from page 6)
He adds that Value Retail drew praise
from the International Key Accounts
Portfolio of Global Refund, which follows
the world’s most prestigious brands.
Pier Francesco Nervini, the association’s
VP said in a report that while some
luxury brands have been challenged by
the current economic climate: “The
outstanding plus-50 percent comparable
YTD sales growth of the Chic Outlet
Shopping Villages across Europe, managed
by Value Retail, where so many
of the luxury brands are represented,
confirms that luxury is still in fashion,
especially at such irresistible prices.”
Stable International
Stable international’s eight-year-old
Batavia Stad Fashion Outlet in The Netherlands
added 6,000 m2 of GLA this
year, bringing the center’s total to 26,248
m2 . The opening of the third phase and
the ensuing publicity resulted in healthy
increases in comparable turnover and
footfall:
l Turnover after phase 3 opening: +
30 percent
l Overall turnover: +6 percent
l Footfall: +10 percent
Batavia Stad Fashion Outlet continues
to be a catalyst for development in
the Lelystad area. The first phase of a
400-unit apartment complex has been
completed, along with the new full-price
shopping venue Lelystad City Centre.
Design meetings have begun for a
fourth phase at Batavia Stad Fashion
Outlet.
n n n
Dalton Park (owned by ING Real
Estate Development UK and managed
by DTZ) continues to buck the general
retail trend with increasingly strong sales
performance and growing visitor levels.
An aggressive marketing program at the
160,000-sf center in Murton, England,
saw catchment within 90 minutes drive
time rise from target 25 percent to 31
percent. Half-year results ending June
2009 show a significant increase despite
the general economic downturn:
l Overall sales: +10 percent
l Footfall: +6 percent
l Spend per head +4.2 percent
n n n
Through this summer, comp sales at
the 1.2 million-sf Dubai Outlet Mall
8 InternatIOnal Outlet JOurnal Fall 2009
Stable international attributes turnover increases at Batavia Stad Fashion Outlet in
the Netherlands to the opening of its third phase earlier this year.
increased 15 percent and footfall grew 20
percent compared to the same period in
2008. The categories that have performed
the best during the period are upscale apparel,
optical and sunglasses, and sportswear.
“The increases can be related to more
people turning to value shopping during
the current recession, increased market
awareness and mall marketing and PR
activities,” says Vishal Mahajan, director.
“And our retailers conducted better
in-store offers and promotions this year.
However, we are still up against widespread
discounts in other malls in Dubai
because of the downturn in the global
economy.”
n n n
Land Securities reports that YTD sales
for the 324,030-sf Gunwharf Quays in
Portsmouth are up 8 percent over 2008.
At the developer’s 320,000-sf Galleria
Outlet Centre in Hatfield, England,
turnover is up 1.6 percent and footfall is
up 2.7 percent. Average spend is up 4
percent over last year, but in 2008, average
spend had increased by 26 percent over
2007.
n n n
Resolution Property reports that the
200,000-sf Park Avenue Fashion Outlet
in Bilbao, Spain has reported a sales
increase of 25 percent compared to the
same period in 2008 and a footfall increase
of 10 percent for the first quarter
of 2009.
n n n
Chester Properties reports that the
115,000-sf Springfields Outlet Shopping
& Festival Gardens in Spalding,
England, has seen a 35 percent increase
in footfall YTD through August. c
Call for turnover data
iOJ welcomes comparable sales/
turnover and footfall data from any
European/UK outlet center, as well
as suggestions for improving the
reporting.
Please send your center/portfolio
GLA, comparable sales/turnover
and footfall data for the 3rd quarter
2009 to IOJ Editor in Chief Linda
Humphers at lhumphers@icsc.org.
Further information on the performance
of merchandise categories
and center/portfolio occupancy
would also be appreciated, as well
as comments on why your center/
portfolio performed as it did.
The deadline for reporting on 3rd
Quarter 2009, which will be in the
Winter 2010 IOJ, is 16 November.