European outlet specialist Neinver has announced that its sales exceeded the €1 bn mark in 2019, achieving a 7% like-for-like growth.
Neinver's 16 outlet centres welcomed more than 45 million visitors over the course of the year, a 3% increase compared to 2018.
'Our outlet portfolio has recorded a strong performance in 2019, with total sales increasing at higher rates than the two previous years. These positive figures back our strategy of reenergising our strongest centres and investing in positioning our newest ones by improving the shopping experience of our customers, attracting new retailers and crafting a more premium brand mix in some centres,' said Carlos González, Neinver’s managing director.
'The outlet sector has proved to be a resilient and successful channel for growth. It offers great value-add opportunities when combined with a specialised management model and a strong customer-centric strategy,' González added.
The portfolio ended the year with 96% occupancy and an average spend increase of 4% in the past 12 months, as Neinver completed over 383 leasing deals.
Strong performance
The main indicators for sales and foot traffic grew in 2019 in all the markets where Neinver operates, excelling in Germany, where Halle Leipzig and Montabaur The Style Outlets lodged double-digit increases in sales and visits. Brands’ sales in both centres rose 15% and footfall increased 10% to 3.4 million visitors.
In Spain, the six outlet centres in Madrid, Barcelona, A Coruña and Barakaldo grew sales by 9% and received over 21 million visitors, a 7% increase. Additionally, the Spanish portfolio recorded a 62% increase in new leases.
In the French market, sales and footfall at Roppenheim The Style Outlets rose by 8% as renovation work completed and the number of visitors reached 2 million.
In Poland, the five centres operated by the company received over 12.3 million visitors and like-for-like sales increased by 3%, despite the introduction of the Sunday trading ban limiting openings to only one Sunday per month. The four Factory centres added over 20 new outlet stores, while the portfolio was also boosted by the addition of Silesia Outlet in Gliwice, in a joint venture deal with Nuveen Real Estate.
The two The Style Outlets centres in Italy – Vicolungo and Castel Guelfo – increased sales by 3% and welcomed 6.3 million visitors. The company expects to complete the €9 mln upgrade of Vicolungo, designed by Chapman Taylor, in the coming months.
Neinver and Nuveen Real Estate will open Amsterdam The Style Outlets in the Netherlands in the third quarter of 2020, with 50% of the structure already built and close to 80% of its GLA pre-leased.
