Russia remains the key market in company’s plans as the performance of FASHION HOUSE Outlet Centre Moscow as well as the customers’ interest in outlet shopping are on a high levels. Russian customers, seeking the best value for money, turned to outlets and once introduced to the advantages of outlet shopping, became a frequent customers. Company’s outlet centre in Moscow is experiencing over 30% growth of sales and footfall this year.
The company’s currently leading project, showcased in Cannes, is FASHION HOUSE Outlet Centre Moscow – Russia’s first fully-enclosed outlet centre. In October 2015, FASHION HOUSE Group started construction of the second phase of the scheme. Newly created part is due to open on 4th November 2016. It will add 4,500 sqm of GLA and will be home to over 30 new brands. The development is gaining momentum: the foundations are already completed, walls are ready in 60% and fitting of steel roof structure is about to begin shortly. Leasing process is under its way as well and first tenants will be unveiled soon. Total cost of construction is approximately € 11 million and investment will be fully financed using company’s own equity.
The second showcased scheme is FASHION HOUSE Outlet Centre St Petersburg, which is being developed on a land property of 12 ha located 20 km south of St Petersburg city centre. An important part of works on road access and utilities, including power and water systems’ connections, traffic lights and bus stops is completed. The site is ready for the construction to start and the company is planning to open the centre in spring 2017. With a GLA of 20,260 sqm, FASHION HOUSE Outlet Centre St Petersburg will be home to 120 store units. The total amount of investment is estimated at 70 million Euros.
In addition to the presenting its projects on stand P-1.E50 during MAPIC 2015, FASHION HOUSE Group and its representatives will also actively participate in supporting events: Brendon O’Reilly will join the discussion ‘Russian Federation – Russian Consumption Market: Key Facts For Growth’ during the Russian Session on November 18th while the following day Alister Meek will share his thoughts on ‘The Omnichannel Experience: Connecting Shoppers or Connected Shopping?’.
MAPIC is the one of the largest and most prominent real estate shows in the world, fully dedicated to the retail industry. Every year it attracts key players from across the world, gathering them together in one place, at one time, in a unique business environment.
For further information:
Senior Account Manager
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Notes for editors:
FASHION HOUSE Group
FASHION HOUSE Group (FHGR) is a leading player in the European outlet sector and the largest developer/operator in the CEE and Russian markets, with a proven track record of opening up and dominating the outlet sector in emerging markets. FHGR has delivered and currently manages 5 successful FASHION HOUSE Outlet Centres in Poland, Romania and Russia of a total lettable area of almost 100,000 sqm and is developing a new outlet scheme in St Petersburg.
FASHION HOUSE Group specializes in both development and management of outlet centres. It offers an outlet-dedicated, premium quality, experienced team of experts in the fields of outlet centre design, development, finance, leasing, operation and management. Consequently, FHGR has built up a notable following of world-famous branded retail tenants.
FASHION HOUSE Group is part of Liebrecht & wooD Group, a European real estate development company established in 1991, which for over twenty years now has been active in the biggest markets in the CEE region – Poland, Romania and currently also Russia.
FASHION HOUSE Group in Russia
FASHION HOUSE Group’s portfolio in Russia comprises 2 assets: FASHION HOUSE Outlet Centre Moscow and FASHION HOUSE Outlet Centre St Petersburg (under construction), which clearly distinguish themselves in the market by being the first fully-enclosed outlet centres in Russia.
FASHION HOUSE Outlet Centre Moscow, opened in June 2013, almost instantly won hearts of Russian customers. With GLA of over 15,000 sqm the scheme is currently home to over 100 international and domestic brands and offers up to 70% discounts all year round. Currently, the second phase of the scheme is being developed. It is due to open in November 2016 and will add aprox. 4,500 sqm of GLA and 30 new stores.
FASHION HOUSE Outlet Centre St Petersburg will offer over 20,000 sqm of GLA, more than 120 stores and food court with seating area. The scheme is under construction and is due to open by the end of 2016.