27 Nov. 2009
MCARTHURGLEN TO CREATE NEW RETAIL SPACE IN EUROPEMcArthurGlen will open more than 135,000 sq. meters of new retail space across Europe in 2010 and 2011. This total includes three new schemes: La Reggia Designer Outlet near Naples, which will open in February 2010, as well as new designer outlet villages in Athens and Neumünster, near Hamburg. Additional extensions are underway at six existing centers in Berlin, Veneto (near Venice), Roermond (near Düsseldorf), Parndorf (Vienna), Barberino (Florence) and Castel Romano (Rome). The Group is also redeveloping, together with joint venture partner Henderson Global Investors, Factory Shopping Messancy as a new designer outlet village to serve the Luxembourg area.
Said Gary Bond, CEO of McArthurGlen’s European Development: “Outlet retailing is still a growth area in Europe for the right scheme in the right location. Brands are increasingly discovering how outlet retailing can help them raise cash from excess stock, while consumers have latched on to the value of buying both trusted and aspirational brands at discounts of up to 70%.”
McArthurGlen Group is Europe’s leading developer, owner and manager of designer outlet villages. Its current portfolio of 18 designer outlet villages across the UK and Continental Europe comprises more than 400,000 sq. meters of retail space, housing over 750 brands in more than 1,800 stores. Visited annually by 70 million people, the portfolio generated over €2 billion in retail sales in 2008.
The Group’s Roermond Designer Outlet in the Netherlands is currently Europe’s top-performing outlet center, according to a survey of top brands. The center, co-owned by McArthurGlen and Henderson’s European Outlet Mall Fund (‘EOMF’) climbed three places from last year’s ranking. The news was announced at this year’s ICSC European Factory Outlet Conference, which took place in Milan on Oct. 14-15, 2009.
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