McArthurGlen today announced both record sales growth to 4 billion euros across its portfolio of 22 shopping centres, and 12 months of continuous year-on-year sales growth.
Total sales in 2015-2016 across the brand partner stores in McArthurGlen’s centres rose by 13% and by 10% on a like-for-like basis.
McArthurGlen’s acquisition strategy saw the Ochtrup Designer Outlet become one of its best performers. The group’s third centre in Germany was acquired last year through a joint venture with Ochtrup’s founders. The centre was rebranded McArthurGlen Designer Outlet Ochtrup and has seen sales grow by more than 14% since McArthurGlen took over management in February 2016.
Julia Calabrese, CEO of McArthurGlen Group, said: “Our three-pronged approach of organic growth, new development, and acquisition is paying dividends. Our newly-acquired centre Ochtrup performed exceptionally well. We are 75% leased in Provence, our first south of France designer outlet, and excited about beginning construction on McArthurGlen Málaga in 2017. We have also just seen record weekend footfall at our flagship designer outlet Serravalle, near Milan.
“Our portfolio has continued to deliver excellent results - including growth in both footfall and average spend per shopper - and we are seeing increasing interest and appetite from brand partners who are looking to high-end outlets as a profitable revenue stream in their multi-channel offering.
“With our growing portfolio we expect the coming years to bring innovative and collaborative ways for the group to evolve the consumer-outlet experience.”
In addition to this, the group’s gross lettable area (GLA) will continue to expand with the recent completion of Serravalle, Italy, Phases Five and Six. The new phase in Noventa, near Venice, will open by the end of 2016; new phases will open in Roermond, Holland and Parndorf near Vienna in Austria in the spring of 2017.
McArthurGlen is currently fulfilling a record expansion plan announced last year that will see its total retail space increase from 600,000 sq m today to nearly 900,000 sq m by 2020 including the opening of six new designer outlets in five countries and the expansion of eight of its existing centres.
The group welcomed over 80 million customers through its doors in the past 12 months. Its network of brand partners - which range from Armani to Versace and Zegna - grew close to 1,000, including 95 brands entering McArthurGlen outlets for the first time in 2016.