Food offer and leisure shopping experience to shape the outlet industry future
The International Outlet Summit, launched by MAPIC in Cannes, was an event dedicated to the phenomenon of outlet centers. Over 150 key market professionals were discussed i.e. the industry evolution, new development trends and key features enhancing the outlet customer experience. FASHION HOUSE Group was one of the initiators of the summit. Brendon O’Reilly, Managing Director of FASHION HOUSE Group, shared his broad expertise on the European outlet industry. He also presented the company’s flagship outlet projects including FASHION HOUSE Outlet Centre Bucharest, which achieves annual double digit growths on key business KPIs.
Basing on numerous market analyses and conclusions from the International Outlet Summit, Brendon O’Reilly stressed: ”Food is the new fashion for retail properties today. There is an increasing desire from new consumers that outlet centers should offer leisure shopping experience. It is an absolute must to meet these changing requirements. The outlet market players get a big space to implement fresh and bright ideas in our business. I am absolutely sure that FASHION HOUSE Group is perfectly prepared to it.”
Brendon O’Reilly also evaluates the situation of the outlet industry in Romania: “The Romanian economy will continue to expand. Romania is supposed to maintain one of the highest annual growth rates in the whole European Union. In recent years taxation for consumption (VAT) has been cut and wages have significantly increased. These factors have a positive influence on the consumers’ purchasing power. The outlet industry in Romania can be optimistic about its future.”
FASHION HOUSE Outlet Centre Bucharest (16,000 sqm GLA) matches the upcoming trends, already enhancing the shopping customer experience. The scheme’s exterior architecture highlights local history and traditions. Its theme is “Bucharest Old Town”. A grid of small streets and inner courtyards forms the urban structure of the project. What is more, the scheme also offers different food units located within different areas of an outlet. New other food & leisure concepts in the scheme will come in the upcoming years.
FASHION HOUSE Outlet Centre Bucharest perfectly completes the offer of West Park, one of most popular retail parks in Bucharest, known from its broad household goods offer.