Nov 28, 2022
2 minutes
Via Outlets on track for best year ever
Nov 28, 2022
Outlet villages operator VIA Outlets said on Monday that its “strong year-to-date performance puts the owner-operator on track for its best year ever”.
It added that its “pioneering sustainability practices underpin a strong ESG vision that’s gained momentum. With an appealing brand mix, VIA Outlets exceeded the 2019 total brand sales of €1.2 William across over 1,100 stores, which until now was a record year in VIA Outlets’ history”.
The company operates 11 premium outlets in Europe and said it “has adapted to the new post-Covid-19 retail landscape well”.
Its ‘3Rs’ strategy for growth (remodelling, remerchandising, and remarketing) is a “successful formula that has enabled it to continue to strengthen” its offer.
The company has undertaken major expansion projects for destinations in its portfolio this year, in particular Sevilla Fashion Outlet, Spain and Landquart Fashion Outlet, Switzerland.
It’s investing €17.5 million into the former with an increase of close to 20% in gross leasable area, to host a total of 80 stores in the centre. Scheduled to complete in Q4 2023, it “will become Andalusia's new landmark Premium shopping offering, facilitating the entry of large national and international fashion brands and a completely new hospitality offer”.
And in Switzerland, plans have been finalised to add an additional 4,707 sq m to the destination, which represents a 22% increase of the existing centre area, as well as creating additional parking with a new multi-deck car park.
The planned development will be driven by an investment of over €53 million and will include 15 additional stores. Work should start in Q1 2023 and the expected opening date for the extension is Q4 2024.
The company has also closed its third quarter with strong demand. Year-to-date, 278 leasing deals have been completed, which include new store openings, renewals, upsizes, downsizes and exits – “strengthening the portfolio brand mix”.
New openings from international premium brands included Polo Ralph Lauren opening in Landquart, at the end of November and Hugo Boss Women in Zweibrücken Fashion Outlet, Germany, with further planned upsizes.
Other premium international brands that opened their first stores in the VIA Outlets portfolio include Corneliani, Sandro, Maje, American Vintage, Hour Passion and Sundek.
CEO Otto Ambagtsheer said: “2022 has seen a robust recovery in performance. Brand sales have returned to pre-pandemic levels, with 2022 Q2 surpassing 2019 brand sales by 5%. We are pleased to have welcomed several new brands to the portfolio, underlining our strategy to continuously elevate our centres. At the same time, we have progressed with several key expansion projects and asset management initiatives.”
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