NEINVER reopens 100% of its outlet portfolio in Europe

NEINVER closed in March the 16 outlet centres it operates in five European countries, while the 4 retail and leisure parks located in Spain and Poland remained partly opened to allow essential businesses to operate. The German centres were the first to reopen (20 April), and its facilities served as a model to improve the new protocols implemented by the company to ensure maximum health and safety across all assets. Indeed, as part of NEINVER’s overall reopening plan, the company has committed to meeting or exceeding all guidelines established.

As such, the company has implemented comprehensive health and safety protocols, developed in close consultation with national regulators and public health officials in the different countries where it operates. NEINVER has also worked closely with brands to guarantee maximum safety for visitors and employees.

“We are very excited to have our full portfolio open as of today”, commented Daniel Losantos, Chief Operating Officer. “As evidenced by our reopening across Europe, there is a growing demand for our outlet offer. We are seeing improvements, with sales and footfall progressively increasing every week in all our centres. However, it is early to make predictions and we must continue the hard work to deliver the best experience to our customers”.

He adds that “with all the safety measures in place, our focus now is to keep on working closely with our brand partners, understand their needs and offer them the best solutions to gradually recover the level of activity we had”.“Our outlet centres have shown great resilience in previous recessions thanks to the company’s intensive management model, the attractiveness of its offer for consumers and, now more than ever, the need for many brands to sell their accumulated stock”, stated Daniel Losantos.

Moreover, NEINVER has worked closely with its tenants’ by adjusting service charges and providing them with different relief agreements. The company is following up individually with each brand based on a long-lasting relationship and on a case-by-case basis, taking into account the particular situation of each centre and the different national regulations.

Refurbishments completed and construction progress

During the shutdown, the company continued with the renovation of Getafe The Style Outlets in Madrid, which opens today with 100% of the refurbishment completed. Getafe The Style Outlets is coming back to business with an exciting line-up of 12 new brands, and several of its existing units have been renovated or expanded.

NEINVER has also pushed hard during the lockdown to advance the development of Amsterdam The Style Outlets – a scheme under the joint venture between NEINVER and Nuveen Real Estate – and keep its opening objectives. With this project, NEINVER expands the company’s geographic footprint in a very attractive market and launches a flagship project which is set to become a landmark retail destination in the Netherlands.