European Outlet Centres An Introduction
FSP RETAIL BUSINESS CONSULTANTS
Provision 41 major Outlet Centres in the UK Total floor space (gross): 593,000m2 Average floor space (gross): 15,350m2 113 major Outlets Centres in Western Europe (excluding UK) Total floor space (gross): 2,104,000m2 Average floor space (gross): 18,625m2 19 major Outlets Centres in Central & Eastern Europe (excluding Turkey) Total floor space (gross): 346,500m2 Average floor space (gross): 18,240m2
FSP RETAIL BUSINESS CONSULTANTS
Variety of Formats
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Town Centre
Outlet Park
Outlet Village
Outlet Mall
Mill Village
Factory Conversion FSP RETAIL BUSINESS CONSULTANTS
Top Occupiers
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FSP RETAIL BUSINESS CONSULTANTS
Top Occupiers Retailer
# in UK
# in Western Europe
15
21
51
66
17
11
38
64
16
1
47
54
13
11
30
52
7
4
41
# Outlet # in CEE Stores Countries
Country of Origin
Merchandise Category
FISH
Price Position
USA
Sportswear/equip
YI
Upper Middle
Adidas
Germany
Sportswear/equip
FS
Middle
Puma
Germany
Sportswear/equip
AS
Middle
United Kingdom
Sportswear/equip
AS
Middle
France
Household Accessories/Gifts
0
Middle
Tommy Hilfiger
USA
Womenswear
AI
Upper Middle
50
8
5
37
Desigual
Spain
Womenswear
YI
Upper Middle
48
1
1
46
Guess
USA
Womenswear
AF
Upper Middle
43
4
3
36
Timberland
USA
Footwear
AI
Upper Middle
42
5
9
28
France
Menswear
FS
Upper Middle
42
3
8
31
USA
Lingerie
AI
Upper Middle
42
0
9
33
Nike Factory Store
Reebok Home & Cook
Lacoste Calvin Klein Underwear Samsonite
87
USA
Handbags/Luggage
AS
Upper Middle
41
3
7
31
Switzerland
Food Specialists
0
Upper Middle
41
3
2
36
Calvin Klein Jeans
USA
Womenswear
AI
Upper Middle
39
0
4
35
United Colors of Benetton
Italy
Womenswear
AS
Middle
38
9
2
27
France
Household Accessories/Gifts
AI
Upper Middle
38
1
13
24
Italy
Womenswear
AI
Upper Middle
37
4
2
31
Lindt
Le Creuset Diesel Levi's
USA
Menswear
AS
Middle
36
7
6
23
Germany
Womenswear
FS
Middle
34
9
2
23
Gant
USA
Menswear
AI
Upper Middle
34
3
2
29
Claire’s
USA
Jewellery
YS
Middle
33
2
29
2
Triumph
Pepe Jeans
United Kingdom
Menswear
YI
Upper Middle
33
7
0
26
Mountain Warehouse
United Kingdom
Sportswear/equip
AS
Middle
32
2
28
2
Cotton Traders
United Kingdom
Womenswear
FS
Lower Middle/Value
31
0
31
0
Australia
Menswear
YI
Middle
29
1
6
22
Billabong
Source: FSP
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FSP RETAIL BUSINESS CONSULTANTS
Plus Designer Brands
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FSP RETAIL BUSINESS CONSULTANTS
Top Luxury / Premium Occupiers Retailer Jerem Polo Ralph Lauren Escada Baldinini Burberry Hugo Boss Versace Frette Furla Basler Bally La Perla Guru Pollini Gattinoni Kathy Van Zeeland Valentino Bayard Michael Kors Bose Armani Pull Love Oneida Prada Enrico Coveri
Country of Origin
Merchandise Category
FISH
Price Position
France USA Germany Italy United Kingdom Germany Italy Italy Italy Germany Switzerland Italy Italy Italy Italy USA Italy Switzerland USA USA Italy Italy USA Italy Italy
Menswear Womenswear Womenswear Footwear Menswear Menswear Womenswear Textiles & Furnishings Handbags/Luggage Womenswear Footwear Womenswear Womenswear Footwear Womenswear Handbags/Luggage Womenswear Menswear Womenswear Brown Goods Menswear Womenswear Household Accessories/Gifts Womenswear Handbags/Luggage
FS AS AF AS AF AI AF AI AF CI CI AF YF AS AI YF AI AI CI AI AF CS CS AF AF
Premium Premium Luxury Premium Luxury Luxury Luxury Luxury Premium Premium Luxury Luxury Premium Premium Premium Premium Luxury Premium Premium Premium Luxury Premium Premium Luxury Premium
# in # Outlet # in CEE # in UK Western Stores Countries Europe 23 23 20 20 19 18 16 14 14 13 13 13 13 13 12 12 11 11 11 10 10 10 9 9 8
1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0
0 7 1 0 5 4 3 0 1 2 3 1 0 0 0 1 1 0 2 7 2 0 8 1 0
22 16 19 20 14 14 13 14 13 11 10 12 12 13 12 11 10 11 9 3 8 10 1 8 8
Source: FSP
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FSP RETAIL BUSINESS CONSULTANTS
Located Close to Densely Populated Areas
Source: FSP
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FSP RETAIL BUSINESS CONSULTANTS
Increasingly Associated with Leisure Activities Leisure plays a vital role in performance Consumers drive further to reach Outlet Centres with strong leisure opportunities Outlet Centres which offer a strong and appropriate leisure experience achieve nearly double the turnover and significantly higher footfall than those which do not
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FSP RETAIL BUSINESS CONSULTANTS
Rapidly Expanding 450,000 400,000
Additional Space (sqm)
350,000 300,000 250,000 200,000 150,000 100,000 50,000 0 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 United Kingdom 10
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Italy
France
Germany
Spain
Other European Countries FSP RETAIL BUSINESS CONSULTANTS
With Opportunities for Future Development
Source: FSP
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FSP RETAIL BUSINESS CONSULTANTS
Performance * 41 major Outlet Centres in the UK Average footfall 3.2 million a year Average annual turnover: €53.6m Average sales density: €3,500/m2 113 major Outlets Centres in Western Europe (excluding UK) Average footfall 2.4 million a year Average annual turnover: €62.5m Average sales density: €3,350/m2 19 major Outlets Centres in Central & Eastern Europe (excluding Turkey) Average footfall 1.9 million a year Average annual turnover: €35.1m Average sales density: €1,860/m2
(* FSP Estimates)
FSP RETAIL BUSINESS CONSULTANTS
Major Operators McArthurGlen (UK) 472,000m2 21 Sites Neinver (Es) 284,000m2 14 Sites Value Retail (UK) 176,000m2 9 Sites Fashion House (UK) 162,000m2 8 Sites Realm (UK) 143,000m2 9 Sites Concepts & Distribution (Fr) 132,500m2 9 Sites FSP RETAIL BUSINESS CONSULTANTS
FSP ADVISES ON ALL CRUCIAL ISSUES RELATING TO RETAIL STRATEGY, OCCUPIER PERFORMANCE, ASSET MANAGEMENT AND IMPLEMENTATION
FSP RETAIL BUSINESS CONSULTANTS
FSP Outlet Services
PRE-ACQUISITION & DUE DILIGENCE
Pre Acquisition – analysis of turnover growth potential, risks and opportunities
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MARKET INTELLIGENCE
Feasibility – assessment of catchments, competition, demographics and consumer expenditure, optimum retail mix, ideal occupiers and likely trading performance
STRATEGY
Asset Strategy – recommendation of operational, leasing and marketing actions to grow footfall and sales based upon assessment of performance
LEASING SUPPORT
Leasing Support – use of catchment, demographic and spend data plus benchmark, and portfolio analysis to attract target occupiers
FSP RETAIL BUSINESS CONSULTANTS
Track Record - Outlet Centres The FSP team has worked on more than 60 outlet centres in 25 European countries FSP’s expertise includes performance, operations, marketing and leasing experience FSP advises, Investors, Operators, Asset Managers, Occupiers and Industry Consultants Alpenrhein Village, Landquart, CH – Pre Acquisition Andalucía Outlet Village, Malaga, ES – Feasibility and Tenant Mix Blackpool Pleasure Beach, Blackpool, UK – Feasibility and Tenant Mix Campera Outlet, Lisbon, PT – Pre Acquisition Cheshire Oaks, Chester, UK - Performance and Tenant Mix Clarks Village, Street, UK – Feasibility, Performance and Tenant Mix Duisburg Designer Outlet, Duisburg, DE – Leasing Fashion Arena, Prague, CZ – Feasibility and Tenant Mix Festival Park, Ebbw Vale, UK - Performance and Leasing Gate Tallinn, Tallinn, EE – Feasibility, Concept and Tenant Mix Gunwharf Quays, Portsmouth, UK - Performance and Tenant Mix Holmstaden Outlet, Kolding, DK – Feasibility, Concept and Tenant Mix Junction 32, Castleford, UK – Performance and Tenant Mix Junction One, Antrim, UK – Feasibility, Performance and Leasing Le Village des Alpes, Bellegarde Sue Valserine, FR – Feasibility and Tenant Mix Neumunster Designer Outlet, Neumunster, DE – Initial Feasibility One Fashion Outlet, Bratislava, SK – Feasibility and Tenant Mix Oslo Outlet Village, Oslo, NO – Feasibility and Tenant Mix Park Avenue, Bilbao, ES - Performance and Tenant Mix Premier Outlets Center, Budapest, HU – Performance and Tenant Mix Rosada Factory Outlet, Roosendaal, NT – Pre Acquisition Springfields, Spalding, UK - Feasibility, Concept and Leasing Swindon Designer Outlet, Swindon, UK – Feasibility and Tenant Mix 16
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FSP RETAIL BUSINESS CONSULTANTS
Testimonials I am very pleased to have given the approval to the research as this really does appear to me to be money well spent” Robert Wood, Fund Manager, Continental European Real Estate
“FSP produced summary research to help market our scheme to retailers. It has been gold for our agents” Ian Sanderson, Development Director
FSP RETAIL BUSINESS CONSULTANTS
Why FSP? Quality FSP’s key personnel Depth of retailer insight Clarity of advice Research best practice Client base
Experience Over 35 years consulting experience Over 100 years operational retailing experience International track record in 25 countries Focus on Investors / Asset Managers
Relevance Customer / Occupier based approach Every project is bespoke Use of local research teams Actionable recommendations
Service / Partnership Attention to detail Clarity of reporting Adherence to project deadlines Working with all asset management professionals Active participation to achieve opportunities Focus on continuing long term relationships 18
FSP RETAIL BUSINESS CONSULTANTS
Ken Gunn Director
Sandor Balogh European Consultant
FSP RETAIL BUSINESS CONSULTANTS
T +44(0)1949 474740 M +44(0)7773 779919 F +44(0)1494 474262
T +44(0)1949 474740 M +44(0)7824 430211 F +44(0)1494 474262
19 Manor Courtyard Hughenden Avenue High Wycombe UK, HP13 5RE
ken@fspretail.co.uk
sandor@fspretail.co.uk
T +44(0)1494 474740 F +44(0)1494 474262 admin@fspretail.co.uk www.fspretail.co.uk www.snap-shop.co.uk