VIA Outlets has adapted to the new post-COVID-19 retail landscape and is outperforming 2019 total brand sales. Their ‘3Rs’ strategy of growth: remodeling, remerchandising, and remarketing, is a formula that has enabled it to continue to strengthen its offering across Europe. This landmark year is reflected in the recent BBB+ credit rating awarded to VIA Outlets by Fitch Ratings.
Development across the portfolio
This year also saw expansion projects for destinations in the VIA Outlets portfolio, in particular Sevilla Fashion Outlet, Spain, and Landquart Fashion Outlet, Switzerland.
- Sevilla Fashion Outlet, Spain
VIA Outlets invested 17.5 million euros in the expansion of its Sevilla Fashion Outlet, with an increase of close to 20% in gross leasable area, reaching 18,396.6 sq m and creating 17 new spaces to host a total of 80 stores in the center. Scheduled to be completed in Q4 2023, Sevilla Fashion Outlet will become Andalusia’s new landmark Premium shopping offering, facilitating the entry of large national and international fashion brands and a completely new hospitality offer. In alignment with the Greater Seville sustainable plan, the project is BREAAM™ Excellent certified for its low-carbon management model and best circular on-site practices.
- Landquart Fashion Outlet, Switzerland
In Switzerland, plans have been finalized to add an additional 4,707 sq m to the destination, which represents a 22% increase in the existing center area, as well as creating additional parking with a new multi-deck car park. The planned development will be driven by an investment of over 53 million euros and will include 15 additional stores. The groundbreaking event is planned for Q1 2023 and the expected opening date for the extension is Q4 2024.
VIA Outlets completed approximately 300 leasing deals
Year to date 278 leasing deals have been completed which include new store openings, renewals, upsizes, downsizes, and exits – strengthening the portfolio brand mix. New openings from international premium brands included Polo Ralph Lauren opening in Landquart Fashion Outlet, Switzerland, at the end of November and Hugo Boss Women in Zweibrücken Fashion Outlet, Germany, with further planned upsizes. Other premium international brands which opened their first stores in the VIA Outlets portfolio are—among others—Corneliani, Sandro, Maje, American Vintage, Hour Passion, and Sundek.
New notable local brands have also joined the VIA Outlets portfolio, including My Jewellery (Netherlands), Lola Casademunt (Spain), and Vaude (Switzerland). 28 deals increased the area leased to the top 20 brands by over 2,522 sq m.
Sustainability in shopping
Guided by its ‘Beyond Sustainable’ four-pillar holistic approach, VIA Outlets has looked to foster robust sustainability efforts through an approach that emphasizes development practices, conscious consumers, resilient communities, and stakeholder engagement. The outlet portfolio has also reconfirmed for the 3rd consecutive year a 5-star rating in the 2022 GRESB Benchmark, the ISO 14.001 environment management certification, and recent BREAAM recertification across its centers.
Looking at the future
VIA Outlets CEO, Otto Ambagtsheer, reflects on a landmark year for VIA Outlets: “2022 has seen a robust recovery in performance. Brand sales have returned to pre-pandemic levels, with 2022 Q2 surpassing 2019 brand sales by 5%. We are pleased to have welcomed several new brands to the portfolio, underlining our strategy to continuously elevate our centers. At the same time, we have progressed with several key expansion projects and asset management initiatives. A 5-star GRESB rating for the third consecutive year, alongside other environmental certifications and consumer and brand partner initiatives, proves our long-term commitment to centering sustainability in everything VIA Outlets does as a business. We look forward to the continued evolution and growth across all facets of the VIA Outlets portfolio in 2023.”