“In a challenging economic environment which has seen a luxury slowdown and customers across all geographies making cutbacks on discretionary spending, we have continued to outperform the markets in which we operate,” explains Susie McCabe, Co-CEO of McArthurGlen Group. “Achieving these consistently strong results despite such headwinds is a testament to the relevance of our proposition with consumers and the customer-led approach of our teams.”
The Group has also continued to see a robust recovery of international tourism to its portfolio in 2024, with year-to-date Tax-Free Sales figures up 13% on last year – surpassing pre-pandemic levels. The company has seen a sharp increase in visitors from the Eastern Mediterranean region, for example Turkey, and a steady return of customers from Greater China, with other top nationalities including the Middle East, Southeast Asia and the USA.
“Our strong growth this year clearly shows the continued resilience of our business model,” adds Joan Jove, Co-CEO of McArthurGlen Group. “Customers across Europe are attracted by the promise of up to 70% savings year-round on their favorite brands, while our consistently compelling calendar of promotional events and unique in-center experiences ensures our guests enjoy real value for money as well as an extraordinary day-out every time they visit us.”
With the important Christmas trading period still to come, the Group is confident that it will deliver total sales of nearly €6 billion euros for its brand partners by the end of the year.
New Brands
By the end of 2024, McArthurGlen will have welcomed over 60 new brand partners to its portfolio and opened over 350 stores, equal to around 10,000 sqm of GLA.
Key brand highlights include Alexander McQueen, Aquazzura, Mason Garments, Forte_Forte, Aquascutum, Hoff, Goldbergh, Slowear, Sunspel, Pangaia and Marc Jacobs.
“We have been focusing on strengthening our brand mix across our designer outlets, and are delighted to have welcomed a number of emerging luxury and premium brands to our portfolio this year,” says Nick Brady, Group Managing Director for Leasing at McArthurGlen. “As leaders in the outlet market, our centers offer the perfect testing ground for high-end brands that are new to the off-price channel – giving them access to a new customer base while simultaneously offering our guests the opportunity to discover up-and-coming labels.”
The elevation of its brand mix has extended to the Group’s Food & Beverage offering, with the openings of upmarket bakery concept GAIL’s, iconic ice-cream brand Ben & Jerry’s and popular café Joe & the Juice. Both the GAIL’s and Joe & the Juice locations were the first for the brands in an outlet destination. The Group has also welcomed Vienna-based hydration experts, Waterdrop, marking a new category to its portfolio and offering customers reusable water bottles and ‘Microdrinks’ to encourage a healthier and more sustainable lifestyle.
Upcoming expansions
Growing demand for destination shopping underpins the Group’s expansion pipeline. Its ongoing program of development will see new phases in Canada, the UK, Spain, Italy, and The Netherlands.
- Designer Outlet West Midlands: Phases II and III – following the continued success of the center’s first phase, which opened in 2021, plans are now underway for an additional two phases, spanning 98,000 sq ft (9,100 sqm) in total, which will add 50 new units to the center. Once completed, the project will span 285,000 sq ft with 125 units over the three phases. The first stage of this new development, featuring an initial 25 stores, is scheduled to open in 2026.
- Vancouver Designer Outlet: Phase III – a significant 65,000 sq ft (6,000 sqm) expansion is currently in planning, introducing 27 new luxury and premium stores. This phase is set to open in Spring 2026.
- Designer Outlet Málaga: Phase II – a major 12,000 sqm GLA expansion is currently in planning, which will introduce 70 new stores.
- Designer Outlet Castel Romano: Phase IV – a 6,000 sqm expansion is in planning, offering up to 35 new stores.
Designer Outlet Roosendaal: Phase III – McArthurGlen has received zoning approval for a potential expansion of up to 6,500 sqm, which could bring Roosendaal’s total GLA from 23,000 sqm to close to 30,000 sqm.
