Phase II, which cost approximately €12 million (fully financed with FASHION HOUSE Group own equity), ads 4,500 sqm GLA and is 78% committed.
Following the 2015 announcement, FASHION HOUSE Outlet Centre Moscow phase II, developed by FASHION HOUSE Group, will duly open tomorrow. It cost approximately €12 million and was fully financed with the company’s own equity. The newly created part ads 4,500 sqm GLA and 20 stores to the centre. FASHION HOUSE Outlet Centre Moscow, the first fully enclosed scheme of this type in Russia, has now over 20,000 sqm and a total of over 100 stores. Every day of the year, customers can find there top quality international and domestic brands, available at between 30%-70% less than original prices. Development of FASHION HOUSE Outlet Centre Moscow phase II has created extra jobs. 300 people in total worked on the construction site, more than 150 people will find employment in new stores. FASHION HOUSE Outlet Centre Moscow is one of the first retail projects in Russia built within BREEAM certification sustainability requirements. Phase II of the centre received the BREEAM certificate on the Very Good level.
Expanding FASHION HOUSE Outlet Centre Moscow is an important element of our strategy and proves that Russia remains a key country for FASHION HOUSE Group. We believe that the Russian outlet market has a strong potential and will notice double digit growth on sales and footfall in centres – as it used to in previous years. As the country’s sector leader, FASHION HOUSE Group will continue to invest in development of the next phase in Moscow, the outlet centre in St. Petersburg and e-commerce platform – commented Patrick Van Den Bossche, Managing Director of FASHION HOUSE Group.
FASHION HOUSE Outlet Centre Moscow builds an impressive mix of tenants, which distinguishes the scheme in the Russian outlet market. The opening of phase II, which is 78% commercialized, strengthens the scheme’s offer. Among tenants of phase II, opening their stores on November 4th, are: Melon Fashion Group (befree, LOVE REPUBLIC), Baon, Mr. Sumkin, Guess, Giovanni Botticelli, Optika Favorit and Rosinter (II Patio Italian restaurant). The fully leased phase I offers among others one of a kind ‘Red Carpet alley’ – dedicated best local and international high-end fashion brands, including Furla, Meucci, Pinko, Escada, Kenzo, Motivi, Max Mara, Etro, All Seasons Comfort (by Silk & Cashmere) and others.
We would like to thank all our partners and tenants who trusted us. FASHION HOUSE Group is dedicated to develop and manage outlet centres with excellence. With your best in class brands and stores and 20 years of our team expertise, FASHION HOUSE Outlet Centre Moscow has become a trusted outlet destination on the market – added Brendon O’Reilly, Managing Director of FASHION HOUSE Group.
The ultimate shopping experience in FASHION HOUSE Outlet Centre Moscow is also shaped by architectural uniqueness. Phase II enhances the decorative “traditional Moscow” image of the centre’s façade. The interior continues the “Window to Europe” concept adding to the I phase’s Milan and London a unique atmosphere of Paris shopping streets. Phase I is also changing with the refreshed walls, benches and greenery, being a part of a constant process of improving the shopping experience brought by FASHION HOUSE Outlet Centre to Moscow fashion lovers. The scheme also offers parking lot of a total area of 12,000 sqm (for more than 1,800 vehicles).
According to plan, the scheme will also cover the Phase III. FASHION HOUSE Group is also developing a new outlet centre in St. Petersburg, with total GLA of 20,330 sqm.