FASHION HOUSE Group reports consolidated growth for the two centres in Bucharest in 2022 with 34% sales increase, and announces the extension of FASHION HOUSE OUTLET CENTRE PALLADY
FASHION HOUSE Romania, the operator of the only two professional outlet centres in Romania, announces consolidated performances for 2022, demonstrating excellent financial results in a turbulent economical context, further highlighting the resilience of the outlet model. The strategy of constantly improving the retail mix, which was strongly kept in 2022, resulted in new top store openings: Samsonite, Hervis, The Cosmetics Company Store (Clinique, Estee Lauder, Origins, Jo Malone, Mac, and others), Sport Vision, Chic Chic, totalling over 2700 sqm. The retail mix improvement’s rhythm is supported also by the opening of a new food court with over 100 indoor seats. The retail mix and the value proposition of the two outlet centres consolidated sales with a staggering two-digit growth in 2022. All the increased interest from tenants and customers as well for the outlet offers has accelerated the construction of phase two of FASHION HOUSE OUTLET CENTRE PALLADY which will debut in the first quarter of 2023.
With spending per head increased by over 18% in FASHION HOUSE OUTLET CENTRE Militari and 15% in FASHION HOUSE OUTLET CENTRE Pallady compared to the same period of 2022, FASHION HOUSE Outlet centres in Bucharest set the premises for yet another year with consolidated growth, during an economical retraction period. The spectacular sales growth is also supported by the footfall increase by 12% compared to the previous year, demonstrating that two outlet centres have become a shopping landmark for customers. The overall communication and marketing strategy and all the extra value proposition events have contributed to the growth along with the renewed retail mix. This has led to a spectacular sales growth of 34% in FASHION HOUSE OUTLET CENTRE Militari and 19% in FASHION HOUSE OUTLET CENTRE Pallady – a confirmation for the newly opened shopping landmark.
Following the new store openings in 2022, the two centres have recorded a strong pace of tenant mix improvement. In FASHION HOUSE OUTLET CENTRE Militari, the new food court with over 100 indoor seats and 150 outdoor seats has improved even more the shopping experience due to the unique design which indulge the visitors in a tranquil atmosphere. 2022 was the year with the most extended leased areas and new stores totalling over 2,700 sqm in FASHION HOUSE Militari. The leasing record is supported by the fact that in uncertain economic periods, the outlet centres have performed best. This pushed for the new phase of FASHION HOUSE OUTLET CENTRE Pallady that will start in 2023 and will add a total of over 5,000 sqm leasable area.
“The current economic context has given the premises for this fast pace growth for the FASHION HOUSE Group in Bucharest. The demand for top quality outlet schemes like the ones offered by the centres in our portfolio is outlined by the top additions of new tenants and by the spectacular increase of sales. World-famous fashion brands have opened stores in our centres based in Bucharest, offering attractive discounts all year round. We are honoured by the trust they place in us, and we are committed to provide them with the best services.
This ever-growing interest from tenants to join the two FASHION HOUSE Outlet Centres in Bucharest is due to our constant preoccupation of offering our tenants the best support through a dedicated professional team with tailor made consultancy and over 25 years’ experience in the outlet business. ” – said Brendon O’Reilly, Managing Director of FASHION HOUSE Group “Favourable growth in Bucharest encourages the expansion of the second professional outlet centre in Romania, with a total investment of 45-million-euro. FASHION HOUSE OUTLET Centre Pallady is the 7th of its kind developed by Liebrecht & wood and FASHION HOUSE Group in Europe, and after the second phase of the extension it is due to add new anchor tenants to reaffirm a shopping landmark on the south-eastern part of Bucharest. “
Both FASHION HOUSE Outlets in Bucharest welcome shoppers on a daily basis with discounts ranging between 30 and 70 percent for products made by globally acclaimed labels such as adidas, Puma, Boss, Nike, Tommy Hilfiger, Calvin Klein, Cacharel, Diesel, US Polo, Tom Tailor, Under Armour, Nike, Levi`s, Marc’O Polo, Guess, Samsonite, Ecco, Liu Jo, Desigual and many other premium brands.
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About FASHION HOUSE Group
FASHION HOUSE Group (FHGR) is part of the Liebrecht & wooD Group, a real estate development company that has been active for thirty years in some of the most dynamic markets in the CEE Region. FGR is one of the largest operators in the outlet sector at European level, with proven experience in the design, development, financing, leasing, operations, and management of outlet centres.
The portfolio of projects carried out by FHGR includes seven successful FASHION HOUSE outlet centres in Europe.
The first FASHION HOUSE outlet center opened in 2004 in the Polish town of Sosnowiec, near Katowice. Currently, the FASHION HOUSE outlet centres make available every year over 250 international brands to 10 million customers in four units in Europe, (two of which are in Romania), with a total area of over 50,000 square meters. The latest FASHION HOUSE Outlet Centre project opened in Bucharest in May 2021.