Outlet Sales Looking Good - Value Retail News

COVER STORY
Strong sales spur Value Retail
2008 expansion programme
The Villages, an outlet centre
portfolio of nine schemes near
Europe’s gateway cities managed
by London-based Value Retail, continue
to post impressive gains in both total
sales and average spend per visitor. In
the first six months of 2008 total sales at
the Villages increased by 20 percent compared
to the same period last year, while
the average spend of its visitors increased
by 12 percent.
Value Retail also recorded an increase
in tax-refunded sales by over 30 percent
compared to the first six months of 2007.
Visitors from Russia, the Middle East,
China, India, Southeast Asia and Brazil
generated the strongest gains.
The Villages are on track to serve over
IN JuLY IN STOCKHOLm, La Vallée
Village was honored with an Urban
Land Institute 2008 Award of
Excellence-Europe.
The award, given to the Val d’Europe
Downtown District, recognised the contribution
La Vallée Village has made to
the area’s cosmopolitan environment.
The award is based on the full spectrum
of planning, including social, economic
and financial benefits, not just
architectural merit.
Master-planned by Cooper Robertson
Partners, the Val d’Europe Downtown
District draws on the traditional French
village design. Components of the project
include 50,000 m 2 of office space;
120,000 m 2 of retail/entertainment
space; 500 hotel units; and 1,847 residential
units.
Adding to the aesthetics of the district,
LaVallée Village has attracted top labels
– such as Christian Lacroix, Givenchy,
8 INterNatIONal Outlet JOurNal SummER 2008
22 million visitors this year.
Several centres in the portfolio have
undergone expansions or will shortly:
n Last May, 2,200 m 2 /23,600 sf and
12 stores were added to Wertheim Village,
Value Retail’s project located near Frankfurt,
increasing its total to almost 21,000
m 2 with 110 stores.
n June saw the opening of an additional
25 stores in 3,500 m 2 /38,000
sf at Fidenza Village, located one hour
south of Milan near Parma. Fidenza
Village now has 110 stores in almost
18,000 m 2 .
n This autumn 32 new stores in 5,000 m 2
/54,000 sf will open at Ingolstadt Village,
Value Retail’s second project in Germany,
located near Munich. The expansion brings
Celine, and Kenzo – to open their first
European outlet boutiques. La Vallée
Village has also been officially recognised
by the Seine-et-Marne Tourism
Committee (Comité Départemental
the total number of stores at Ingolstadt Village
to 115 in just over 21,000 m 2 .
n An additional 31 stores will open this
October at Bicester Village, Value Retail’s
flagship outside of London near Oxford.
The additional stores add approximately
5,000 m 2 /52,000 sf to Bicester Village,
which now totals 22,000 m 2 , representing
130 stores.
n A further 2,750 m 2 /30,000 sf and
16 stores were added to La Vallée Village
last summer. The village now totals 18,000
m 2 , with over 100 stores. Paul Smith,
Hackett, M Missoni and Dolce & Gabbana
are among the new brands at La Vallée Village,
Value Retail’s leading outlet shopping
centre located near Paris and adjacent to
Disneyland Resort Paris. c
La Vallée Village recognized
by urban Land Institute
La Vallée Village, an outlet centre near Paris, was honored by ULI in an award
given to the local downtown district.
du Tourisme) as a significant regional
tourist destination. Half of the nearly 3
million high-spending visitors per year
are tourists from more than 40 different
countries. c