Vicolungo The Style Outlets near Milan. Image: Neinver
Ticker

NEINVER reports 8% sales growth across its outlet portfolio in H1 2019

Neinver – a leading investor, developer and operator in the European outlet centre industry and the largest operator in Spain and Poland – has announced that sales across its outlet portfolio grew to €487M during the first half of the year, an 8% increase compared to the same period in 2018. The number of visitors to the 16-outlet-centre portfolio also rose by 3% to 21 million.

“Our outlet portfolio has shown a strong performance during the first half of the year in all the markets in which we operate,” said Carlos González, Neinver’s Managing Director. “In addition to intensive brand and retail management, our growth strategy is focused on expanding our international footprint through selected opportunities and on renovating several of our strongest centres to continue to increase their value and deliver outperforming results.”

The company is currently renovating Vicolungo The Style Outlets in Italy and Roppenheim The Style Outlets in France and will start renovations in some of its centres in Madrid this year to elevate their customer experience and increase their commercial offer. Moreover, Neinver continues to make progress with its two major outlet projects in the Netherlands and France. The company and Nuveen Real Estate have laid the foundation stone for Amsterdam The Style Outlets, set to open in autumn 2020. The centre, Neinver’s first project in the Netherlands, has already pre-leased 70% of its GLA. In France, close to the Swiss border, the company will start construction of Alpes The Style Outlets this summer, scheduled to open in spring 2021. The centre has already pre-leased 40% of its GLA.

New and expanding brands in the portfolio

The first semester of the year also recorded strong leasing activity. In Germany, Thomas Sabo has joined Halle Leipzig The Style Outlets, while Geox opened at the Halle Leipzig and Montabaur centres. Scotch & Soda opened its first outlet store in Italy at Vicolungo. In Spain, Adidas has opened at Coruña The Style Outlets and Fashion Outlet Barakaldo and is now present in Neinver’s entire outlet portfolio in the country. The Italian firm Trussardi has opened its first outlet store in Madrid at the San Sebastian de los Reyes centre, while The Style Outlets centre in Barcelona has added Marina Militare’s first store in Spain and will also be home to the first Spanish outlet of U.S. Polo Assn., the official brand of the United States Polo Association. In Poland, Furla has opened a pop-up shop at Factory Krakow, while Tommy Hilfiger has opened at Factory Poznan and is now available in all four Factory centres in that country. The company also continues crafting a compelling F&B offering across the portfolio and opened with the Cannavacciuolo Group a new smart gourmet space with Chef Antonino Cannavacciuolo’s products at Vicolungo The Style Outlets near Milan.

Results by market

Germany, where Neinver operates Halle Leipzig and Montabaur The Style Outlets, recorded the strongest growth with a 16% increase in sales and 13% rise in footfall to 1.6 million visitors. While both centres achieved double-digit growth in sales and footfall, results were particularly high at the Halle Leipzig centre, which opened its second phase in April 2018.

In Poland, sales increased by 9% while footfall reached 5.6 million visitors. Neinver, which operates four Factory centres in Warsaw (Ursus and Annopol), Poznan and Krakow, recently strengthened its leadership in the country with the opening of Silesia Outlet in Gliwice in March and the later acquisition of that centre together with Nuveen Real Estate.

In Spain, brands’ sales grew by 8% while footfall increased by 5% to 9.8 million visitors. Viladecans The Style Outlets in Barcelona, which Neinver and Nuveen Real Estate opened in 2016, achieved excellent results with a 10% increase in sales and 7% in footfall.

In France, Roppenheim The Style Outlets increased both sales and footfall by 6%, receiving over 900,000 visitors during the first half of the year.

The Italian portfolio’s two The Style Outlets centres, in Vicolungo and Castel Guelfo, recorded a 4% increase in sales while visitors reached 3 million during the first six months of the year.

Sign up for our ACROSS Newsletter. Subscribe to ACROSS Magazine.

Ticker MORE

Unibail-Rodamco-Westfield continues to push for qualitative optimisation of its portfolio in Germany in 2020

With NordWestZentrum in Frankfurt, Breunigerland Sindelfingen and Breuningerland Ludwigsburg, Unibail-Rodamco-Westfield (URW) secured three important asset management mandates in 2019, thereby strengthening its portfolio in Germany. In addition, the real estate developer and operator completed major modernisation projects in Schönhauser Allee Arcaden in Berlin and Centro in Oberhausen and reached important milestones in Westfield Hamburg-Überseequartier development project. In 2020, URW intends to continue to strategically develop its portfolio and focus on urban district development and the expansion of digital infrastructures.

Inditex is donating €8.5 million to Caritas to support social employment and circular economy initiatives in Spain

On the social employment front, the programme has already enabled more than 2,500 people at risk of social exclusion in Spain to find work thanks to the €11.5 million earmarked to this project by Inditex since 2011.

New Group Managing Director for SevenCapital

Leading UK property investment and development company SevenCapital has appointed Damien Siviter in a newly formed position of Group Managing Director.

Landsec announces 139,900 sq ft of deals across its retail portfolio

Landsec has signed deals with 25 brands totaling 139,900 sq ft across its retail destinations. From September 2019, retailers joining Landsec schemes include Decathlon, Zara and Radley.

Debenhams appoints Abigail Comber as Chief Marketing Officer

Debenhams announces that Abigail Comber is joining the Group on 7 January 2020 as Chief Marketing Officer (CMO).

Newsec Property Asset Management Hires COO with solid Industry Background

Over the past years, Newsec Property Asset Management has grown rapidly mainly through acquisitions. This growth journey is expected to continue and Newsec therefore hires Rikard Nyhrén as Chief Operating Officer, COO.