UK developer McArthurGlen is to open its fourth retail village in Italy. The first phase of the new development, Veneto Designer Outlet in Noventa di Piave, Venice offers 11,000 m[sup]2[/sup] of gross lettable area. Phase 2, which is scheduled to open in 2009, will provide a further 10,000 m[sup]2[/sup].
UK developer McArthurGlen is to open its fourth retail village in Italy. The first phase of the new development, Veneto Designer Outlet in Noventa di Piave, Venice offers 11,000 m2 of gross lettable area. Phase 2, which is scheduled to open in 2009, will provide a further 10,000 m2.
The new village brings the total number of McArthurGlen's designer outlet villages in Europe to 17 in eight countries. The village is strategically located close to the Venice-Trieste motorway. According to the company statement, the scheme is located in a region with one of the highest levels of consumer expenditure in Italy. Almost four million people live within a 90-minute drive
JW Kaempfer, chairman of McArthurGlen, commented: 'We enter a market when our brand partners and our research indicate that the time is correct. This close alliance of our business strategy with that of our brands has always been and will continue to be at the heart of our company, with Veneto being no exception. We have enjoyed tremendous success in Italy with our three existing designer outlet villages, which attract nearly
12 million visitors a year.'
Jacopo Mazzei, CEO and President of RDM-Gruppo Fingen, McArthurGlen's joint venture partner in Italy, said: 'The opening of Veneto Designer Outlet represents an important stage in the development of the designer outlet market in Italy. The success of McArthurGlen’s Veneto Designer Outlet is already nearly assured, both in terms of sales and number of visitors. This is helped by the village's unique location in one of the most beautiful and historic regions of Italy and its proximity to one of Italy’s most important cruise terminals, in Venice.'