FASHION HOUSE Bucharest ends Q3 2015 with outstanding results
FASHION HOUSE Group, a leading player in the European outlet sector and the largest developer/operator in the CEE and Russian markets, part of Liebrecht&wooD Group, witnesses an outstanding year so far in Romania, with many new brands joining FASHION HOUSE Outlet Centre Bucharest and positive premises for the project’s expansion in the near future.
After a great business success in 2014, FASHION HOUSE Outlet Centre Bucharest, the first and only professional outlet centre in Romania, is heading for a successful end of 2015.
In the first three quarters of 2015, 10 new tenants opened new stores in the FASHION HOUSE outlet store within West Park Retail, including top international and national brands such as: Guess, Mustang Jeans, Spanish Kids, Kiddie Rides, Format Lady, Faith by MD, Nissa, Napoleoni, TED’s, Lacoste & Gant. New stores in FASHION HOUSE Outlet Centre Bucharest occupy circa 1,000 sq.m. As a consequence, FASHION HOUSE Outlet Centre is now 89% leased. Moreover, based on existing discussions in advanced stages of negotiations, several other international brands are expected to join the list of tenants by the end of the year.
„We have had a great year so far in Romania and, as a result, we look confidently towards the future. FASHION HOUSE Outlet Centre is becoming one of the most important shopping destinations for Romanian customers and its role is constantly growing. From the business perspective, FASHION HOUSE Outlet Centre Bucharest is one of the most important investments of Liebrecht & wooD Group, our mother company, and our recent significant growth is a clear sign that the Romanian market is steadily regaining its strength in the CEE region. There is still unthinkable potential for the outlet business in Romania and we seek to constantly improve our customers’ experience through continuous expansion of the retail offering and further infrastructure works” – states said Brendon O’Reilly, Managing Director of FASHION HOUSE Group.
“We are extremely happy to welcome our new tenants in FASHION HOUSE Outlet Centre and we look forward to doing prosperous business together. The context is definitely promising in this regard, as Romanian consumers are getting more and more acquainted with the outlet concept and see the concrete advantages and savings that come from this type of shopping experience” – adds Iuliana Enescu, Commercial Manager for Romania within Liebrecht&wooD Group, the mother-company of FASHION HOUSE Group.
Both footfall and average spending in FASHION HOUSE Bucharest increased in the past few years. According to a series of recent surveys conducted by Reveal Marketing Partner among clients of the outlet, the average spending is on a significant rise – in 2014, it was 399 RON per client, per visit (90 EURO), twice as much as in previous years (150 RON in 2009 and 268 RON in 2011). The amount represents approximately 11% of average monthly net income of outlet customers.
Moreover, the economic context post-2008 made Romanians more selective and conscious during shopping. More than half of respondents declared that they know exactly what to buy when visiting the outlet and 80% of them found what they were looking for. This fact confirms the strength of the FASHION HOUSE Outlet Centre Bucharest offer and is the main reason for the growing visits’ frequency and general satisfaction of customers. Within last 5 years, the percentage of customers who visit the outlet centre one or more times a month rose to 59%, which is almost twice the result from 2009. Additionally, the general satisfaction from visiting the outlet is up 20 percentage points during the same period of time.
The maturing retail market and the overall increase in retail consumption are other factors that suggest that the positive evolution will continue in 2016 as well.
With a total area of 20,300 sq.m. comprised in three phases, FASHION HOUSE Outlet Centre Bucharest is home to an impressive portfolio of national and international brands, including: Puma, Adidas, US Polo, Champion, Stefanel, Cand ollective, Otter, Mango, Tom Tailor, Benvenuti, Stone Creek, Il Passo, Ecco, Santa Barbara, Camel Active, Samsonite, Reebok, Diesel, Lee Cooper, Guess, Mustang Jeans, Napoleoni, TED’s Coffee, Lacoste & Gant and many others. With 30% to 70% discounts on branded fashion items FASHION HOUSE Outlet Centre Bucharest completes perfectly the offer of West Park – one of most popular retail parks in Bucharest, known from its broad household goods offer.