European Outlet Shopping March 2017
FSP RETAIL BUSINESS CONSULTANTS
European Outlet Centres – Current Position Today there are XXX outlet centres across Europe. XXX have gross lettable floor space provision which is greater than XXXXm² The XXX schemes open in 2015 have a total gross area of XXX million m² and achieved annual turnover of €XXXbn (excluding VAT). This equates to average (gross) sales density of €XXX/m² (GLA excluding VAT) Total turnover XXXXX since 2008 In 2015, like for like sales grew XX%, XXXXXXXXXXXXXXXXXX. Lesser schemes and operators achieved sales growth of around X% The greatest concentration of outlet centres is at XXXXXXXXX XXXXXXXX The largest outlet centre site in Europe is XXXXXXXXXXX The largest single outlet centre in Europe is XXXXXXXXXXXXX XX outlet centres are over XXk m² GLA however, the average size is XXXm² GLA Outlet Villages are XXXXXXXXXXXXXXXXXXXXXX. These have XXXXXXXXXX
2
March 24, 2017
FSP RETAIL BUSINESS CONSULTANTS
2016 – Highlights Month
Outlet Ventre / Operator
Country
News
January
Fleetwood Freeport
UK
Purchase Report to see the news
January
London Designer Outlet
UK
Purchase Report to see the news
January
Mill Green Designer Outlet
UK
Purchase Report to see the news
February
McArthurGlen Troyes / Roubaix
FR
Purchase Report to see the news
February
Roppenheim The Style Outlets
FR
Purchase Report to see the news
March
Fashion House Bucharest
RO
Purchase Report to see the news
March
Metropolian Outlet, Bydgoszcz
PL
Purchase Report to see the news
March
The Outlet / Junction One
UK
Purchase Report to see the news
March
Torino Outlet Village
IT
Purchase Report to see the news
April
Fashion Outlet in Zevenaar
NL
Purchase Report to see the news
April
City Outlet Bialystok
PL
Purchase Report to see the news
April
Designer Outlet Wolfsburg
DE
Purchase Report to see the news
April
Hackney Walk
UK
Purchase Report to see the news
April
Viaduc Village
FR
Purchase Report to see the news
April
Fashion Outlet Leipzig
DE
Purchase Report to see the news
May
Bicester Village
UK
Purchase Report to see the news
May
Designer Outlet Algave
PO
Purchase Report to see the news
May
Rosada Fashion Outlet
NL
Purchase Report to see the news
June
Designer Outlet Croatia
HR
Purchase Report to see the news
June
Freeport Braintree
UK
Purchase Report to see the news
June
Gunwharf Quays
UK
Purchase Report to see the news
June
McArthurGlen Provence
FR
Purchase Report to see the news Source: FSP
3
March 24, 2017
FSP RETAIL BUSINESS CONSULTANTS
2016 – Highlights Month
Outlet Ventre / Operator
Country
News
June
The Village, Villefontaine
FR
Purchase Report to see the news
July
London Designer Outlet
UK
Purchase Report to see the news
July
VIA Outlets
ES
Purchase Report to see the news
August
Freeport Talke
UK
Purchase Report to see the news
August
Neinver
CZ
Purchase Report to see the news
September
Deltapo Outlet
IT
Purchase Report to see the news
September
Grantham Outlet Village
UK
Purchase Report to see the news
September
Honfleur
FR
Purchase Report to see the news
September
Sambil Madrid Outlet
ES
Purchase Report to see the news
October
De Bradelei
UK
Purchase Report to see the news
October
Fashion House Moscow
RU
Purchase Report to see the news
October
Princess Quay, Hull
UK
Purchase Report to see the news
October
Rosada Fashion Outlet
NL
Purchase Report to see the news
October
Villadecans - The Syles Outets
ES
Purchase Report to see the news
November
Kildare Killage
IE
Purchase Report to see the news
November
Lowry Designer Outlet
UK
Purchase Report to see the news
November
Neinver / TH Real Estate
November
McArthurGlen Malaga
ES
Purchase Report to see the news
December
Dalton Park
UK
Purchase Report to see the news
December
VIA Outlets
December
Kilver Court
UK
Purchase Report to see the news
December
Scotch Corner Outlet Village
UK
Purchase Report to see the news
Purchase Report to see the news
Purchase Report to see the news
Source: FSP
4
March 24, 2017
FSP RETAIL BUSINESS CONSULTANTS
Outlet Supply Per Capita – December 2016 The adjacent chart compares the provision of outlet centre floor space per capita across a selection of European countries. On average there are XXX people for every square metre of outlet centre floor space in Western Europe This rises to XXX people for every square metre of outlet centre floor space in Western Europe and Central Europe The mature markets of XXXXXXX (with more liberal planning systems) have the highest provision of outlet centre floor space XXXX and XXXX have low ratios of outlet centre supply, indicating potential for substantially increased provision XXXX and the Netherlands have potential to sustain moderate increases in provision
Country
Count of Total Area Population in Population Outlet Centres (gross m2) 2013 (million) per m2 2 (>5km ) 2016
Italy
X
X
X
X
United Kingdom
X
X
X
X
France
X
X
X
X
Spain
X
X
X
X
Germany
X
X
X
X
Poland
X
X
X
X
Portugal
X
X
X
X
Russia
X
X
X
X
Switzerland
X
X
X
X
Netherlands
X
X
X
X
Austria
X
X
X
X
NB Excludes minor schemes below 5,000 sqm e.g. xxxx Source: FSP
5
March 24, 2017
FSP RETAIL BUSINESS CONSULTANTS
The Leading Markets – 2015 Performance Country
Count of Outlet Centres
Total Area (gross sqm)
Total Sales (€Bn ex VAT)
Average Size (sqm)
Average Sales (€Mn ex VAT)
Average Sales Density (€/sqm)
United Kingdom
X
X
X
X
X
X
Italy
X
X
X
X
X
X
Germany
X
X
X
X
X
X
France
X
X
X
X
X
X
Spain
X
X
X
X
X
X
Poland
X
X
X
X
X
X
Austria
X
X
X
X
X
X
Switzerland
X
X
X
X
X
X
Russia
X
X
X
X
X
X
Portugal
X
X
X
X
X
X
1
NB Excludes minor schemes below 5,000 sqm e.g. Kilver Court (UK), Galerie Fanal (FR) and Space Outlet (IT)
2
NB UK density excluding Bicester Village €3,970/sqm (£266/sqft) Source: FSP
6
March 24, 2017
FSP RETAIL BUSINESS CONSULTANTS
Outlet Centre Formats – Performance & Mix XXXX are the most popular format in Europe, accounting for XX% of total outlet centre floor space and XX% of sales. The charts below illustrate some of the reasons behind this popularity. Purchase the report for graphs and interpretation
XXXXXXXXXx
Source: FSP
7
March 24, 2017
FSP RETAIL BUSINESS CONSULTANTS
Appendix Customer Demand
FSP RETAIL BUSINESS CONSULTANTS
Outlet Centre XXXXXXXXX
Source: FSP
9
March 24, 2017
FSP RETAIL BUSINESS CONSULTANTS
Outlet Centre XXXX
Source: FSP
10
March 24, 2017
FSP RETAIL BUSINESS CONSULTANTS
European Outlet Centres – Development Capacity Purchase the report for insightful commentary, Purchase the report for understanding of FSP methodology Purchase the report for interpretation of the maps. Purchase the report for FSP expert view on development capacity
11
March 24, 2017
FSP RETAIL BUSINESS CONSULTANTS
Investors and Operators
FSP RETAIL BUSINESS CONSULTANTS
Leading Investors Share of Total Turnover
Share of Floor Area
Source: FSP
13
March 24, 2017
FSP RETAIL BUSINESS CONSULTANTS
Leading Operators – Market Share Country
Europe
United Kingdom
Italy
France
Poland
Spain
Germany Others
McArthurGlen
X
X
X
X
X
X
X
X
Value Retail
X
X
X
X
X
X
X
X
VIA Outlets
X
X
X
X
X
X
X
X
Neinver
X
X
X
X
X
X
X
X
Realm
X
X
X
X
X
X
X
X
Marques Avenue
X
X
X
X
X
X
X
X
Multi Outlet Management Italy
X
X
X
X
X
X
X
X
Land Securities
X
X
X
X
X
X
X
X
Promos
X
X
X
X
X
X
X
X
Advantail
X
X
X
X
X
X
X
X
ROS Retail Outlet Shopping GmbH
X
X
X
X
X
X
X
X
Fashion House
X
X
X
X
X
X
X
X
Boundary Mill
X
X
X
X
X
X
X
X
Peel Outlets
X
X
X
X
X
X
X
X
Fashion Outlet Group
X
X
X
X
X
X
X
X Source: FSP
14
March 24, 2017
FSP RETAIL BUSINESS CONSULTANTS
Occupiers
FSP RETAIL BUSINESS CONSULTANTS
Top 25 Occupiers Retailer
Country of Origin
Merchandise Category
FISH
Price Position
# Outlet Stores
CE. Europe
Northern Europe
Southern Europe
Western Europe
Purchase for info
USA
X
X
X
X
X
X
X
X
Purchase for info
USA
X
X
X
X
X
X
X
X
Purchase for info
Germany
X
X
X
X
X
X
X
X
Purchase for info
Germany
X
X
X
X
X
X
X
X
Purchase for info
USA
X
X
X
X
X
X
X
X
Purchase for info
France
X
X
X
X
X
X
X
X
Purchase for info
USA
X
X
X
X
X
X
X
X
Purchase for info
USA
X
X
X
X
X
X
X
X
Purchase for info
Spain
X
X
X
X
X
X
X
X
Purchase for info
Switzerland
X
X
X
X
X
X
X
X
Purchase for info
USA
X
X
X
X
X
X
X
X
Purchase for info
France
X
X
X
X
X
X
X
X
Purchase for info
USA
X
X
X
X
X
X
X
X
Purchase for info
Italy
X
X
X
X
X
X
X
X
Purchase for info
United Kingdom X
X
X
X
X
X
X
X
Purchase for info
Japan
X
X
X
X
X
X
X
X
Purchase for info
Germany
X
X
X
X
X
X
X
X
Purchase for info
France
X
X
X
X
X
X
X
X
Purchase for info
Italy
X
X
X
X
X
X
X
X
Purchase for info
Germany
X
X
X
X
X
X
X
X
Purchase for info
United Kingdom X
X
X
X
X
X
X
X
Purchase for info
Germany
X
X
X
X
X
X
X
X
Purchase for info
United Kingdom X
X
X
X
X
X
X
X
Purchase for info
Germany
X
X
X
X
X
X
X
X
Purchase for info
Germany
X
X
X
X
X
X
X
X Source: FSP
16
March 24, 2017
FSP RETAIL BUSINESS CONSULTANTS
The Leading Markets – Occupier Growth
Purchase for graphs and interpretation
Source: FSP
17
March 24, 2017
FSP RETAIL BUSINESS CONSULTANTS
Top Expanding Occupiers Country of Origin
Retailer
Merchandise Category
FISH
Price Position # Outlet Stores
# New Outlet Stores
CE. Europe
Northern Europe
Southern Europe
Western Europe
Purchase for info
X
X
X
X
X
X
X
X
X
X
Purchase for info
X
X
X
X
X
X
X
X
X
x
Purchase for info
X
X
X
X
X
X
X
X
X
X
Purchase for info
X
X
X
X
X
X
X
X
X
x
Purchase for info
X
X
X
X
X
X
X
X
X
X
Purchase for info
X
X
X
X
X
X
X
X
X
x
Purchase for info
X
X
X
X
X
X
X
X
X
X
Purchase for info
X
X
X
X
X
X
X
X
X
x
Purchase for info
X
X
X
X
X
X
X
X
X
X
Purchase for info
X
X
X
X
X
X
X
X
X
x
Purchase for info
X
X
X
X
X
X
X
X
X
X
Purchase for info
X
X
X
X
X
X
X
X
X
x
Purchase for info
X
X
X
X
X
X
X
X
X
X
Purchase for info
X
X
X
X
X
X
X
X
X
x
Purchase for info
X
X
X
X
X
X
X
X
X
X
Purchase for info
X
X
X
X
X
X
X
X
X
x
Purchase for info
X
X
X
X
X
X
X
X
X
X
Purchase for info
X
X
X
X
X
X
X
X
X
x
Purchase for info
X
X
X
X
X
X
X
X
X
X
Purchase for info
X
X
X
X
X
X
X
X
X
x
Purchase for info
X
X
X
X
X
X
X
X
X
X Source: FSP
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March 24, 2017
FSP RETAIL BUSINESS CONSULTANTS
Expanding Occupiers in Key Markets France
Germany
Italy
Poland
Russia
Spain
United Kingdom
1 Purchase for info
Purchase for info
Purchase for info
Purchase for info
Purchase for info
Purchase for info
Purchase for info
2 Purchase for info
Purchase for info
Purchase for info
Purchase for info
Purchase for info
Purchase for info
Purchase for info
3 Purchase for info
Purchase for info
Purchase for info
Purchase for info
Purchase for info
Purchase for info
Purchase for info
4 Purchase for info
Purchase for info
Purchase for info
Purchase for info
Purchase for info
Purchase for info
Purchase for info
5 Purchase for info
Purchase for info
Purchase for info
Purchase for info
Purchase for info
Purchase for info
Purchase for info
6 Purchase for info
Purchase for info
Purchase for info
Purchase for info
Purchase for info
Purchase for info
Purchase for info
7 Purchase for info
Purchase for info
Purchase for info
Purchase for info
Purchase for info
Purchase for info
Purchase for info
8 Purchase for info
Purchase for info
Purchase for info
Purchase for info
Purchase for info
Purchase for info
Purchase for info
9 Purchase for info
Purchase for info
Purchase for info
Purchase for info
Purchase for info
Purchase for info
Purchase for info
10 Purchase for info
Purchase for info
Purchase for info
Purchase for info
Purchase for info
Purchase for info
Purchase for info
Source: FSP
19
March 24, 2017
FSP RETAIL BUSINESS CONSULTANTS
The Leading Markets – Occupiers
Source: FSP
20
March 24, 2017
FSP RETAIL BUSINESS CONSULTANTS
Evolving Fashion Markets Purchase report to understand markets using FSP’s FISH and Price positioning classifications
Source: FSP
21
March 24, 2017
FSP RETAIL BUSINESS CONSULTANTS
Development Activity
FSP RETAIL BUSINESS CONSULTANTS
Outlet Industry Expansion
Source: FSP
23
March 24, 2017
FSP RETAIL BUSINESS CONSULTANTS
Planned Openings in 2016 & 2017 (New Sites) Country Spain
Location Purchase for information
France
Purchase for information
United Kingdom
Purchase for information
France
Purchase for information
Spain
Purchase for information
Italy
Purchase for information
Netherlands
Purchase for information
France
Purchase for information
Germany
Purchase for information
Poland
Purchase for information
Russia
Purchase for information
Italy
Purchase for information
Czech Republic
Purchase for information
Austria
Purchase for information
Germany
Purchase for information
France
Purchase for information
Name
Year
GLA (sqm)
Source: FSP
24
March 24, 2017
FSP RETAIL BUSINESS CONSULTANTS
Conclusion
FSP RETAIL BUSINESS CONSULTANTS
Summary Purchase report for FSP’s expert analysis of the Outlet Industry
This report is available for purchase for £1,995. Email FSP with invoicing details and the report will be delivered on receipt of payment
FSP March 2017
About the author Compiled using FSP’s industry leading bespoke Outlet Centre Database, this report was written by Ken Gunn, FSP’s Managing Director. Ken is a widely respected authority on Designer Outlet Centres and in the last decade has worked on over 100 outlet projects in 30 countries. His views are regularly sought by the industry’s leading participants and the World's press and Ken plays an active role at international conferences on the format.
26
March 24, 2017
FSP RETAIL BUSINESS CONSULTANTS
About FSP
FSP RETAIL BUSINESS CONSULTANTS
FSP Consultancy FSP helps Clients to increase the value of their retail property investments by: Combining exceptional business insight, with 40 years of consultancy experience Using a variety of appropriate research techniques to identify achievable solutions Ensuring that investments with weak growth prospects are avoided Working with Clients to devise successful management strategies Working with Clients and advisors to implement strategy, monitor performance and attract target occupiers
28 28
March 24, 2017
FSP RETAIL BUSINESS CONSULTANTS
FSP Consultancy FSP consultancy services: Identify how outlet centres are currently performing Quantify scope for sales and income growth Identify occupier risk and sustainable rental income Quantify how additional space or improved mix will increase sales and income Understand opportunities to reposition underperforming assets Add retail context, occupier performance and customer insight to lease negotiations Make a compelling case for target occupiers to lease space
29 29
March 24, 2017
FSP RETAIL BUSINESS CONSULTANTS
Key Facts About FSP Founded 40 years ago. Now part of St Ives Group Located in High Wycombe, near London Advise owners, developers, managers and occupiers of retail property Experienced team of 18 people, with retailing backgrounds Unique Retailer and Outlet Centre Databases Pan European demographic and expenditure data Working with many of the leading players in the European property market Specialist knowledge and track record in Shopping Centres, Retail Parks and Outlet Centres Experience includes over 90 Outlet Centre projects in 30 countries Recognised throughout Europe as leading authority upon Outlet Centre shopping Since January 2011, FSP has worked in Belgium, Denmark, Estonia, France, Germany, Hungary, Italy, the Netherlands, Slovakia, Switzerland and Ukraine
30
March 24, 2017
FSP RETAIL BUSINESS CONSULTANTS
FSP Services for Outlet Brands Interactive European Outlet Centre Map Zoom in and out using Google maps Classifies European outlet centres by retail mix Click to see size, age, operator and retail mix details Free to use at; https://www.fspretail.com/products/interactive-outlet-centre-map/
Outlet Insight Europe wide site profiling using consistent data Reports drive time population, purchasing power and fashion demand plus retail mix and site details Compares selected site against brand’s portfolio Compares selected site against industry averages Outlet Location Strategy Prioritises target countries and ideal portfolio size Prioritises target sites based upon mix and customers Identifies under-performing sites for rationalisation 31
March 24, 2017
FSP RETAIL BUSINESS CONSULTANTS
Ken Gunn Managing Director T+44(0)1494 474740 M+44(0)7773 779919 F+44(0)1494 474262 Ken@fspretail.com
FSP RETAIL BUSINESS CONSULTANTS 19 Manor Courtyard Hughenden Avenue High Wycombe UK, HP13 5RE T +44(0)1494 474740 F +44(0)1494 474262 fspretail@fspretail.com www.fspretail.com www.snap-shop.co.uk
Š 2016 Fripp, Sandeman and Partners Ltd. Whilst efforts have been made to verify the accuracy of the information presented in this Report, neither Fripp Sandeman and Partners Ltd, nor its affiliates, can accept any responsibility or liability for reliance by any person on the information presented. The contents of this Report are strictly confidential in nature and should not be circulated.
FSP RETAIL BUSINESS CONSULTANTS