FASHION HOUSE Development OFFICIALLY LAUNCHES FASHION HOUSE Outlet Moscow

Outlet Centre FASHION HOUSE Moscow is FASHION HOUSE Development’s first live project in Russia. They completed the acquisition of their site in Moscow in 2009 and then went on to develop the plans and artistic impressions for the site which were unveiled at a local press launch event on the 16 June 2010 in Moscow.

“We considered several sites in Moscow region, but the site North West of Moscow near the Sheremetyevo International airport turned out to be the best place for our Outlet Centre. It has a catchment area of 13.4 million within a 90 minute drive time and is in close proximity to Moscow and Khimki. It will also benefit from the future construction of highway between Moscow and St Petersburg.” – explains Neil Thompson, Chief Commercial Officer, FASHION HOUSE Development.

With GLA of 28,640 sq m, FASHION HOUSE Moscow will be home to 165 outlet units, foodcourt and cafes, 1820 parking spaces and a children’s play area.

Neil is delighted: “We have built a great offer and take great care in developing Outlet Centres that work for, retailers, investors and consumers alike – and that also look beautiful. We are very proud of the work we do and the professionalism of the whole of the FASHION HOUSE team and it is great to see the success we have achieved in all of the marketplaces we have gone into. All our Outlet Centres have interesting architectural features that correlate with the culture of a particular area. FASHION HOUSE Moscow will be themed with a traditional Moscow classic architectural style, giving our consumers a unique shopping atmosphere.”

The £92,000,000 project is funded by the Liebrecht & Wood Investment Fund and construction on site will begin in spring 2011 with the opening of FASHION HOUSE Moscow planned for 2013.

“This is a new and exciting marketplace that we feel is ready for the FASHION HOUSE branded Outlet offer. There is high brand awareness amongst consumers who have money to spend and extremely high demand from our current tenants wanting to move into this market. We see a lot of interest for Moscow project from our current European and International tenants” adds Neil Thompson “they know our projects in Poland and Romania, and are positive about future success of FASHION HOUSE Moscow.”

GVA Outlets and The Russian based consulting company MAGAZIN MAGAZINOV part of the CB Richard Ellis has been appointed letting agents. Thompson adds “Many brands in Russia have excess stock and but no outlet offer as part of their retail strategy so this provides an ideal opportunity for them to manage this stock and control and protect their brand. The few that have an outlet offer are spread out so the offer of nearly 200 outlets under one roof is a first for the Russian market and is ideal for the retailers and consumers.”

Neil Thompson adds: “We had the first Outlets in Poland and now in Romania and we will be the first in Russia. We are the leading name in the Outlet Sector in the CEE and that is a fact we are very proud of. Currently Russia has no factory outlets and yet there is the potential for at least 20 based on population, brand awareness and potential spend. So far we have secured two locations with Moscow due to open in 2013 and St. Petersburg in 2014 and we have a feasibility studies being carried out on a further 11 sites.’’

Outlets provide first quality, excess stock of famous brands sold at a discount in a high value environment. An Outlet Centre brings together a collection of outlets under one roof in an out of town location with easy access and parking providing consumers with a wide range of brands offering 30-70% discounts.

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