McArthurGlen Continues To Be The Centre’s Growth
The growth will create round 550 new jobs, bringing the whole quantity of people employed at Europe’s largest luxury designer outlet to around 2,200.
– Europe’s largest luxurious designer outlet at present includes international corresponding to Burberry, Bulgari, Dolce & Gabbana, Ermenegildo Zegna, Gucci, Roberto Cavalli, Salvatore Ferragamo and Versace.
– The centre’s success is linked to its popularity among worldwide travellers as well as Milanese fashion lovers.
Tax-free sales have elevated by 250% over the previous 5 years.
– This is the most important funding in Serravalle because it was opened by McArthurGlen in 2000.
Serravalle will broaden to open a further 70 new stores, constructing on its place as certainly one of Europe’s top trend locations, and an ideal-day out from nearby Milan. The present centre will even be refurbished as a part of the funding. There will be no disruption to the present centre.
At €115mn, that is the biggest investment within the centre since McArthurGlen, the Group that introduced designer outlet retailing to Europe, opened Serravalle in 2000 as the primary designer outlet in Italy.
Since 2004 the centre has been owned by the European Outlet Mall Fund (EOMF), managed by TH Real Property and through which McArthurGlen can be an investor. McArthurGlen continues to be the centre’s growth, leasing and managing agent.
This latest expansion has been made potential following the signing of a joint enterprise between EOMF and Aedes Commercial Properties Group.
Daniela Bricola, McArthurGlen Centre Manager, Serravalle Designer Outlet, says: “Serravalle Designer Outlet has change into an international tourist vacation spot. With this new funding, we will probably be creating a good larger level of excellence, simply 50 minutes from the global city of Milan, and providing the over 5 million prospects who visit the centre annually a good higher alternative of the most liked names in fashion.”
Alberto Carbone, Mayor of Serravalle Scrivia, says: “We welcome this new investment as a key driver for our native financial system. Not only is the Designer Outlet certainly one of the largest employers in the realm, but it’s one of the best known vacationer destinations in Europe. Nestled between Liguria, Piedmont and Lombardy, our space is famous for wine, food, historical past and Serravalle Designer Outlet – probably the greatest trend purchasing destinations in Europe.”
McArthurGlen’s world tourism community works with greater than a hundred tourism partners worldwide, including leading airlines, tour operators, inns as well as local and national tourism boards. As well as, McArthurGlen’s Sales & Marketing places of work in China, Southeast Asia, South Korea, Russia and Brazil work to convey vacationers to McArthurGlen’s 21 Designer Outlets.
More than half of Serravalle’s sales (51%) are at the moment to intra-European and long-haul vacationers. Tax-free gross sales, which account for simply over a third of total sales, have elevated by 250% over the past five years.
The centre is especially common with Chinese buyers, sales to whom have been up 45% in 2014 in contrast with the earlier yr. The centre has also welcomed increasing numbers of tourists from South Korea and Southeast Asia, in particular from Malaysia and Indonesia.
Daniela Bricola explains: “The international consumers are particularly attracted by the highest luxury names, and by the authenticity and ease of what’s a premium shopping expertise, with a full programme of occasions and activities, including our famend annual Summer Music Festival.”
The greater than 10 million residents who live within a ninety-minute drive of the Designer Outlet are additionally an important market. “We believe there is just not solely the potential to develop the tourism market, however that this is also an exciting time for folks dwelling regionally,” says Daniela.
The enlargement will add an extra 12,500m² of retail house in two phases (three,500m² + 9,000m²) to deliver the entire to fifty one,500m². Along with the refurbishment of the prevailing centre, works are due to start later this month [June], with a deliberate opening of the extension for autumn 2016.
Serravalle Designer Outlet is one of five McArthurGlen Designer Outlets in Italy. Since 2000, Europe’s chief in designer outlet retailing has also opened: Barberino (Florence), Castel Romano (Rome), Noventa di Piave (Venice) and La Reggia (Naples).