Designer outlet specialist McArthurGlen has announced it is investing €1 bn in new centres and expansions to cater to growing demand from shoppers and tourists.
The company’s investment programme in Europe includes four new developments and six centre expansions which are scheduled to open over the next three years.
Mike Natas, McArthurGlen's joint managing director of development, said: 'Securing €1 bn to invest in new centres and expansions demonstrates the strength of investor confidence in our sector and the growing demand from consumers for designer outlet shopping.'
New schemes include McArthurGlen Designer Outlet Málaga, developed together with Sonae Sierra, which will become the first designer outlet in the south of Spain when it opens in spring 2019. The group also has three developments ongoing in the UK - including two expansions and a new centre at Cannock near Birmingham (pictured).
In Germany, McArthurGlen has secured planning permission for a designer outlet in Remscheid, while a third phase is planned for McArthurGlen Designer Outlet Ochtrup, which will add 55 new stores and restaurants.
In Italy, McArthurGlen will deliver three centre expansions, at La Reggia near Naples, Noventa near Venice and Castel Romano near Rome. The group is also developing the first and only designer outlet to serve Western Paris in Normandie, France.
'As convenience purchases increasingly move online, consumer appetite for destination shopping has never been stronger,' said Julia Calabrese, McArthurGlen’s CEO.
The group said it added 50 new brand partners during the past 12 months, including Billionaire, Chloe, Delpozo and Jimmy Choo.
Its expanded F&B strategy is also on track to achieve sales growth of 10% by year-end. Analysis of McArthurGlen from consulting group CACI highlights the positive impact of F&B engagement, with overall spend 53% higher for those who included food or drink during their shopping trip.