ACROSS: 2024 WAS ANOTHER RECORD YEAR FOR VIA OUTLETS. PLEASE GUIDE US THROUGH THE HIGHLIGHTS.
JOHAN BERGENTHAL: Brand sales rose nearly 7% in 2024 to a new high of 1.45 billion euros. Footfall likewise grew by 5% versus 2023, bringing us to a new high of 32.2 million visitors last year. We are seeing a constant upward trend, with better results every year.
ACROSS: YOU HAVE BEEN COO AT VIA OUTLETS SINCE THE END OF 2023. YOUR BACKGROUND IS IN THE SHOPPING CENTER INDUSTRY, SO YOU ARE USED TO MORE UPS AND DOWNS. WHAT IS THE KEY FOUNDATION OF SUCCESS AT VIA OUTLETS FROM YOUR POINT OF VIEW?
BERGENTHAL: One of the cornerstones of our success is our 3R strategy: remodelling, remarketing, and remerchandizing. Our remodelling projects are success drivers. In November 2023, we opened the extension to our Sevilla Fashion Outlet in Spain, which contributed to significant business growth in 2024. We added 4000 sq m of GLA there and created 15 additional new stores, filled with brands such as Boss, Nike, Karl Lagerfeld, Under Armour, G-Star, Hackett, Columbia, etc. This resulted in double-digit growth in footfall and brand sales compared to 2023.
ACROSS: WHAT WERE THE RESULTS OF YOUR RE-MARKETING STRATEGY?
BERGENTHAL: One of the main factors driving our growth last year was the revival in international tourism. Overall, we saw 18% growth in tax-free sales versus 2023. Portugal, the Czech Republic, and the Netherlands were the major markets benefitting from this trend. We also saw significant outperformance compared with the pre-Covid period in Switzerland, Spain and Portugal. Tourists from outside Europe are mainly coming from the Middle East, the US, and Asia.
ACROSS: HOW DOES YOUR RE-MERCHANDISING STRATEGY WORK?
BERGENTHAL: This is our leasing strategy. We had over 340 remerchandising deals in 2024, 100 of which were new brands. It is very relevant to bring new offers to the centers, and we want to expand that further, especially in the beauty segment. We had, for example, openings with L’Oréal and The Cosmetics Company Store in Zweibrücken Fashion Outlet, Germany. The openings of Lyko in Oslo Fashion Outlet and Douglas in Landquart Fashion Outlet are two other examples of the rise of beauty brands.
ACROSS: WHICH FURTHER SEGMENTS ARE RESPONSIBLE FOR GROWTH?
BERGENTHAL: The other big driver for us is F&B. With new openings of concepts like Five Guys in Zweibrücken, Landquart, and Sevilla Fashion Outlet, we increased the contribution of F&B by 14% to almost 7% of our entire portfolio. In Oslo, for example, an Asian food concept, Xa Xa, and a Norwegian Bakery called Råde Bakeri were added to the F&B mix. Openings across the portfolio show how important a good F&B offering has become for us.
ACROSS: WHAT IS THE STATUS OF YOUR EXPANSION AND REMODELING PROJECTS IN SWITZERLAND AND PORTO?
BERGENTHAL: These are our most significant remodelling projects right now. Landquart Fashion Outlet in Switzerland will be ready to open its expansion in Q1 2026. Before that, we will open the extension of Vila do Conde Porto Fashion Outlet — adding 5000 sq m of GLA and creating 33 new units. The construction is well underway with no delays and brand appetite to be part of this exciting remodelling is high. There will be four new restaurants with an impressive winter garden in front of a newly created lake. The outlet will be a sight to be seen for the whole Porto region. We are also upsizing some high-performing stores and allowing them to establish themselves in a new unit. The expansion in Landquart is also 5000 sq m of GLA, with 14 new units and a new restaurant. There haven’t been any delays in construction and leasing is progressing very well with some interesting anchor brands signing up.
ACROSS: F&B IS GROWING, BUT VIA OUTLETS IS STICKING TO ITS STRATEGY OF NOT OFFERING “CLASSIC” ENTERTAINMENT, CORRECT?
BERGENTHAL: Considering that the dwell time in an outlet center is way higher than in an average shopping center, we want to create something people can view as a day out. The outlet in Vila do Conde is the best example, as its lake contributes to a relaxing environment where our guests can unwind and experience nature together, beyond a classic entertainment offering. Outlet design naturally depends on the location, so while the lake works in the sunny Porto region, we look at other environmental elements for Batavia Stad Fashion Outlet in the Netherlands, for example. Our role is in setting the stage for our brand partners, who then create experiences around their own brands. The critical rule is that guests should have a flawless experience at our centers.
ACROSS: WHICH ARE THE NEXT LOCATIONS YOU WILL FOCUS ON FOLLOWING YOUR EXPANSION AND REMODELING PROJECTS?
BERGENTHAL: We have a constant pipeline of bigger and smaller remodelling projects. These are not always expansions, although they are, of course, a value boost for us. For example, we are undertaking a significant project, spanning a few years, in delivering a new Masterplan at Freeport Lisboa Fashion Outlet. We have started the works on the central canal street at the center and will finish soon. In the next phase, we will demolish the existing conference center to create a new central plaza with spectacular new anchor units. It is already a very successful center, but through executing our Masterplan, we believe we will bring it to the next level. Smaller projects are also taking place, for example, in Mallorca Fashion Outlet, where we are remodelling the main square, and in Wrocław Fashion Outlet, Poland, where we are adding a new F&B area. Remodelling happens across the entire portfolio, and we also have an appetite for further expansions. We’re developing a bigger plan for Zweibrücken Fashion Outlet, where we will deliver a building permit application very soon. We also have other options that we are pursuing in the Netherlands, with Batavia Stad Fashion Outlet, and in Fashion Arena Prague Outlet, but with these locations we are looking further into the future.
ACROSS: REGARDING ACQUISITIONS, VIA OUTLETS SOLELY FOCUSES ON EUROPE AND MARKETS YOU’RE ALREADY ACTIVE IN. ARE YOU LOOKING AT SPECIFIC ASSETS?
BERGENTHAL: We are always looking around for new opportunities. We firmly believe that 2025 will be a year in which we continue to grow on various levels and hopefully we can communicate these developments soon.
ACROSS: LET US EXAMINE YOUR LEASING ACTIVITIES MORE CLOSELY. YOU HAVE ALREADY NAMED A FEW BRANDS. WHICH BRANDS ARE YOU GROWING WITH?
BERGENTHAL: Our main drivers are what we call our top 20 brands. These are renowned international brands such as Nike, Adidas, Polo Ralph Lauren, Tommy Hilfiger, Calvin Klein, Boss, etc. These brands represent a significant proportion of all brand sales at VIA Outlets and we aim to ensure that they are represented across our entire portfolio. The expansion and remodelling of our centers are naturally aimed at ensuring that we remain relevant to these brands. However, it is vital to balance international and local brands and refresh our brand mix so it also remains relevant for our guests. We pay close attention to the success of what we call ‘local heroes’ — brands that represent regions and that can contribute significantly to the individualization of our centers when we host them.
ACROSS: WHAT ARE EXAMPLES FOR THESE BRANDS?
BERGENTHAL: In Landquart Fashion Outlet we recently signed a contract with Läderach. This is an exceptional Swiss chocolate manufacturer that represents the region. In Sevilla Fashion Outlet we have a range of local brands, some of which outperform the international brands in sales. With this mix, we want to appeal to regional and international guests. Likewise, through pop-up stores, we offer young, or digital brands, the opportunity to increase their profiles in the market and test whether a brick-andmortar store is worthwhile. Offering this brand diversity and consistently providing creative inspiration is a huge customer driver.
VIA’S LOCAL HEROES
Denham, Batavia Stad Fashion Outlet
DENHAM, founded in Amsterdam by Jason Denham, is a premium denim brand driven by craftsmanship, authenticity, and culture. Rooted in the pioneering spirit of the original blue jean, DENHAM blends tradition with innovation to redefine the denim industry. With a global presence spanning over 20 countries, the brand continues to expand, bringing its future-focused vision and expert craftsmanship to denim lovers worldwide.
HOFF, Sevilla Fashion Outlet
Founded in Alicante, Spain, HOFF has grown from a small online business into an international brand. Committed to blending quality, striking design, and fair pricing, HOFF draws inspiration from iconic places to create uniquely beautiful sneakers and apparel. With a focus on everyday wear, the brand continues to redefine style through unexpected yet timeless designs.
Silbon, Sevilla Fashion Outlet
Founded in Córdoba, Spain, SILBON emerged from the passion of young fashion enthusiasts who identif ied a gap in the men’s fashion market. Dedicated to offering exclusive, high-quality products at competitive prices with exceptional customer service, SILBON has grown into a nationally recognized brand, continuously expanding its presence.
Images: VIA Outlets
ACROSS: THE OUTLET INDUSTRY HAS RECENTLY SEEN A MASSIVE TREND OF INTERNATIONAL BRANDS UPSIZING. ARE INTERNATIONAL BRANDS STILL “MOVING” THEIR FLAGSHIP STORES TO OUTLETS?
BERGENTHAL: We have recently observed consistent demand for ‘upsizing’ from international brands. They start with a smaller footprint and then suddenly double their size over the following years. When sales performance allows, we find ways to create larger spaces and help them perform even better. Yes, upsizing is still a trend, but we prefer to call it right sizing. We know our brand partners very well. If we believe a brand partner would be even more successful in a different setting, we seek dialogue and, for example, suggest a different space size for their store. We generally don’t have to do much convincing. It’s not just about increasing space, but also about sizing it correctly. Performance is always the deciding factor for our leasing strategy.
ACROSS: ESPECIALLY WITH YOUR BACKGROUND, HOW DO YOU LOOK AT THE SHOPPING CENTER INDUSTRY IN THIS REGARD?
BERGENTHAL: Full-price shopping centers are for sure a more challenging market. However, the markets are only comparable to a limited extent. There are 450 shopping centers in Germany alone, while there are only 210 outlets of very different sizes in Europe. The density of full-price retail is so high that there are many shopping centers that, strictly speaking, shouldn’t even exist. We will see further consolidation and mixed-used ‘turnarounds.’ Brands have stringent criteria when choosing locations, they want to open in major cities, prime locations, and with flagship stores. More than ever, brands analyze locations, footfall, and the catchment area. Not many shopping centers are considered prime assets where brands genuinely want to expand their business. This brand selectivity will determine the future of many locations.
ACROSS: ONE OF THE SIGNIFICANT DIFFERENCES BETWEEN THE FULL-PRICE SEGMENT AND THE OUTLET BUSINESS IS THE ROLE OF RETAIL MANAGERS. HOW DOES VIA OUTLETS DEFINE THIS ROLE?
BERGENTHAL: The role of a retail manager at VIA Outlets and in the outlet business generally is non-existent in the fullprice segment, where they speak of a tenant-landlord relationship. In the outlet industry, retailers serve retailers and provide advice to help them achieve the best results for their businesses. It’s an entirely different approach. Both sides benefit from brand success stories. This has much to do with trust, because our brand partners have experienced that we truly understand their business and have a similar ‘retail mindset.’
ACROSS: WHAT ARE THE MOST CRITICAL INSTRUMENTS IN THIS CONTEXT?
BERGENTHAL: First, there are data and analytics. We can tell our brand partners on a daily basis how they perform relative to their peer group in a center, or at the portfolio level. This depth of detail gives each partner a competitive advantage. Together, we can determine where adjustments should be made to achieve even better results. This service aspect is unheard of in most of the retail real estate industry. I have never experienced this level of cooperation between brands and landlord in the full-price sector. We also train store staff to optimize sales, for example in unit design and visual merchandising. A lot has positively changed in this area, with the attractiveness of shops for consumers increasing enormously. Store design and identification with brands have played a significant role in this evolution. Guests shouldn’t feel like they are in an outlet area; they should experience attractive stores. You need employees representing the brand as if it were their own.
ACROSS: SO, IT’S A CONSTANT DIALOGUE.
BERGENTHAL: Absolutely. It is a true partnership and not only an intervention when something goes wrong. This dialogue takes place at individual locations, but also at higher levels. For example, we conduct quarterly reviews with many of our brands. We also have group teams where five or six brand representatives sit down with five or six of our experts to discuss the entire VIA Outlets portfolio.
ACROSS: VIA OUTLETS IS FOCUSING ON OMNICHANNEL LIKE FEW OTHER COMPANIES IN THE INDUSTRY. BATAVIA STAD FASHION OUTLET IS CONSIDERED A TEST MARKET FOR THIS. WHAT IS THE CURRENT STATUS REGARDING OMNICHANNEL, AND WHAT CAN WE EXPECT IN THE FUTURE?
BERGENTHAL: Today’s consumers are hybrids. They are used to shopping around the clock. E-commerce is showing tremendous growth. Omnichannel is the future, so we have to provide the platform. We need a tailor-made solution for us as a company and our channel. That is why we decided to engage with the Wishibam omnichannel software platform and create a proof of concept that we launched and piloted in Batavia Stad Fashion Outlet. From 2023 to 2024, we saw significant growth in transactions, but also a growing appetite from brands to join the platform adding their assortments. The goal is for guests to experience outlet benefits on multiple levels and it’s why we started with guests who already participate in our loyalty program, Fashion Club, so they can collect points and benefit from products and offers from outside our center as well.
ACROSS: WHAT DOES ONLINE SHOPPING LOOK LIKE FOR CUSTOMERS?
BERGENTHAL: Our guests can now shop conveniently from the comfort of their own home. We have a dedicated e-commerce team who pick up the orders in store. Once the order is ready guests can choose to have them delivered at home, or they can collect their orders from the center. We now have 55 brands live and 30 more in the pipeline for onboarding. We are confident that this growth will continue and that the return rate, which is low compared to the market average at around 17%, will remain constant.
ACROSS: WHEN LOOKING AT 2025, WHAT TRENDS WILL SHAPE THE OUTLOOK SECTOR?
BERGENTHAL: We will continue to consistently pursue our 3R strategy. The focus is on the overall experience and this is a key differentiating factor with shopping centers. We offer a seamless experience for people who are willing to travel long distances, which begins with preparation at home and continues on arrival with parking and restrooms and extends to additional services. The design of outdoor areas is important, but the key driver remains the brand offer. Data will continue to play a crucial role, because knowing your customer is vital. Only then can we offer our brand partners the best possible service. That is why we are striving to extend our loyalty program and make it more comprehensive with more personalized communication.
ACROSS: WHAT ROLE WILL SUSTAINABILITY PLAY IN 2025?
BERGENTHAL: This is our forever hot topic. Sustainability is really in the DNA of our company as we also want to position ourselves as the leader in sustainable outlet shopping. With our “Beyond Sustainable” strategy we look further than just environmental impact but to the entire ESG framework. Everyone at VIA Outlets understands that sustainability starts with us. We must consider our individual behavior before investing to improve specific statistics or meet certain criteria. Only then can we advance the issue together with our brand partners, investors, stakeholders and guests. Everyone at VIA Outlets understands that this is a great personal responsibility that comes with our business model.
Johan Caspar Bergenthal
Johan Caspar Bergenthal moved from the shopping center to the outlet industry at VIA Outlets in the fall of 2023. He is the Chief Operating Officer and member of the Executive Board of the Dutch outlet owner and operator. Bergenthal was Managing Director and Head of Territory at Klépierre with responsibility for its business in Germany, The Netherlands and Turkey, and a member of the group’s executive committee. He played a key role in the transformation of his market portfolio of 14 shopping malls, with an ambitious value creation and cash flow growth strategy. He was appointed as COO for the German market in 2015 following Klépierre’s acquisition of Corio and subsequently promoted to Head of Country, Germany in 2018. Bergenthal started his career at the German retail real estate developer ECE in 2004, with roles in leasing and architecture, before he moved to Corio to lead the German leasing team.
