Bucking the Trend
Europe is a booming marketplace for factory outlet centres. The potential exists for more than 160 new outlet centres by 2017 and the existing 145 are bucking the current downward retail trend, according to the latest report from the International Council of Shopping Centres (ICSC). The outlet centre market is the place to be for investors, developers and retailers.
The designer outlet concept first started in the United States in the 1970s as a way for manufacturers and brands to sell off surplus stock or previous seasons’ merchandise at some 30 percent to 70 percent below regular retail prices. On a global level, the industry has strengthened since manufacturers realised the importance of controlling their brands.
Outlet centres enable the fashion retail industry to work more efficiently, because city centre retailers now demand