Icon Outlet at The O2 signs Calvin Klein, Kurt Geiger and more
Development at the outlet mall due to open at The O2 in Greenwich, London this October is proceeding with the companies behind it announcing the first names to have signed up.
Icon Outlet at The O2 will include stores for Hackett, Ted Baker, Guess, Gant, Calvin Klein, Crew Clothing, Jack Wills, Kurt Geiger, Aspinal of London, Levi’s, Pepe Jeans, Clarks and Skechers.
The premium urban mall is being created by AEG and Crosstree Real Estate Partners and will cover 210,000 sq ft under the tented roof of The O2, which is an undeniably strong location (and one of the few landmarks that can be seen from space).
The giant O2 building, originally built as the Millennium Dome to celebrate the year 2000, has become a major entertainment attraction in South London. And in the years since it opened, shopping options in the area have expanded too with a growing fashion offer, such as the recently-opened Primark, joining a raft of other fashion stores.
With strong transport links too, The O2 is clearly a good location for new retail development. But in line with the location’s entertainment heritage (and current trends for shopping destinations offering more than just retail), there will also be plenty of leisure options, in addition to The O2 itself which is claimed to be “the world’s number one entertainment venue.”
There will be a 50,000 sq ft cinema extension for Cineworld and a 30,000 sq ft trampoline park. The companies said: “The O2’s offer is being evolved to reflect the consumer-led convergence of retail, leisure and entertainment. In total, over 75% of the space under development is let or under offer.”
The finished mall will comprise 85 stores and 35,000 sq ft of new restaurants, cafés and bars, with the developers saying they want to replicate a concept that’s common in continental Europe and the US, but relatively new in the UK, where outlets tend to be located outside of major city centres.
“They combine the choice, convenience and value of online with the inspiration and engagement of the very best of physical retail,” they said. “Their breadth of offer is also easily accessible to large numbers of consumers through excellent transport links, which will resonate with all visitors, including London’s Millennials and Generation Z consumers, who typically do not have their own means of transport.”
Those links make Icon Outlet easily accessible not only to the 10 million London residents but the huge catchment area around the city and 31 million domestic and foreign visitors to London every year. Plus the constant round of events at the O2 will provide a steady flow of potential shoppers. The developers said “75% of The O2’s current visitors are from outside the catchment, and 50% are from CACI’s Affluent Achievers or Rising Prosperity Acorn groups, the UK’s highest spending consumers.”
The companies are aiming to further target these people with add-on services such as personal shoppers and stylists, concierge luggage drop and hands-free shopping, a “deluxe” tax-back lounge, and unique event shopping packages.
And in terms of appealing to Millennials, that fact that Icon Outlet will also be the first major retail development in the UK to have achieved a BREEAM Outstanding rating, could be significant too. Consumers in this demographic frequently cite eco-awareness as a factor in where they choose to shop.
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