The McArthurglen Group steps into the Greek market despite economic turndown
Athens designer outlet takes the group to 20 European outlets
Designer outlet group McArthurGlen, which has 19 centres hosting 2,000 designer stores across Europe, has announced plans to be the first developer to introduce the concept of designer outlet retailing to the Greek market.
The opening of the Athens Designer Outlet – a 21,200 sq m GLA two-level scheme – in 2011, comes despite the country suffering the worst economic slowdown in 40 years. The €100 million development will provide a welcome boost to the Greek fashion market by providing a unique concept which fuels Greek consumer demand.
The site was selected for its close proximity to both Athens city – 25km east of the city centre – and Athens Airport in the Municipality of Spata [15 minutes drive] so it can exploit the traditionally high-spending habits of both domestic consumers and international visitors, with currently around 5 million people living in the local catchment area.
The Designer Outlet will boast 110 retailers. Signed brands include Cavalli, Moschino, Versace, Tommy Hilfiger, Replay, Gant, Lacoste, Timberland and Guess.
The development will provide up to 1,000 new employment opportunities for Athens locals giving them a stepping stone into the retail market.
In total, the McArthurGlen Group will open more than 100,000 sq m of retail space in 2011/2012 including McArthurGlen Athens and a further new scheme, McArthurGlen Neumünster near Hamburg, Germany.
