FASHION HOUSE Group and Peakside Polonia Management sign Operational Contract for next 5 years
FASHION HOUSE Group and Peakside Polonia Management have agreed a new five year Operational Contract for the FASHION HOUSE Outlet Centres in Warsaw, Gdańsk and Sosnowiec.
In 2007 Polonia Property Fund II, managed by Peakside Polonia Management, acquired FASHION HOUSE Outlet Centre in Warsaw and two other schemes in Sosnowiec and Gdańsk the following year. FASHION HOUSE Group has continuously been managing the three centres, ensuring sustained growth in the value of these outlet assets. Despite some difficult economic indicators in Poland, 2013 has proved to be one of the most successful years for the Polish FASHION HOUSE Outlet Centres, with unprecedented increases in income.
The new Operational Contract is linked to a robust Business Plan which outlines a clear and distinct development for each of the Outlet Centres. This plan focuses on the following areas to ensure further value growth during the term of the agreement:
new premium tenants to further differentiate the Fashion House Brand mix;
new segmentation and targeting of key consumer groups;
innovation initiatives in all areas of the Outlet Management functions.
– This extension comes after a number of years of a successful working partnership during which FASHION HOUSE Group has been a reliable partner and demonstrated good understanding of our requirements – said Otis Spencer, President of Peakside Polonia Management. – We are excited to continue our cooperation with aim to provide both our tenants and customers with quality service.
– We are proud to have earned Peakside Polonia Management’s trust – said Brendon O’Reilly, Managing Director of FASHION HOUSE Group. – The excellent operational results of all FASHION HOUSE Outlet Centres in Poland would not have been possible without our premium quality, experienced team of outlet-dedicated professionals working in partnership with the Peakside Polonia Management team.
Ever since the opening in 2004 of the first FASHION HOUSE Outlet Centre in Sosnowiec, FASHION HOUSE Group has evolved into the largest outlet developer and operator in the CEE and Russian markets.FASHION HOUSE Outlet Centres offer consumers a unique discount shopping experience – top quality international and domestic brands are available all year round for 30-70% less than original prices, within buildings of a unique architectural theme (i.e. a replica of Warsaw “Old Town” facades), which distinguish them from any other local shopping scheme.
FASHION HOUSE Outlet Centre in Gdańsk, currently the only outlet centre in Northern Poland, boasts a unique architectural design, referring to a traditional fishing village with its own lighthouse. The scheme has a GLA of over 16,600 sqm and is home to over 100 stores and a parking lot for 800 vehicles. The outlet centre enjoys great popularity amongst customers – both locals and the 1,5 million tourists visiting the coastal region each year.
With a GLA of almost 17,300 sqm and parking for 1000 vehicles, FASHION HOUSE Outlet Centre in Warsaw (Piaseczno) is one of the largest outlet centres in the CEE region as well as one of the most successful ones, thanks to a perfect combination of national and international, high-street and luxury brands.