McArthurGlen reports “record-breaking” sales in 2024

McArthurGlen Group, Europe’s leader in designer outlet retailing, has reported record-breaking sales in 2024, with a turnover growth of 7 percent year-to-date.

In a statement, McArthurGlen, which operates 24 centres across Europe and Canada, said the 7 percent increase in turnover built upon the previous year’s double-digit growth was driven by a steady increase in footfall of 4 percent and a 3 percent rise in average spend per visitor.

This follows consistent rises in footfall and average spend per guest across its portfolio and consolidates 15 quarters of consecutive growth since the pandemic.

The outlet group adds that with the important Christmas trading period still to come, it is confident that it will deliver total sales of nearly 6 billion euros for its brand partners by the end of the year.

Susie McCabe, co-chief executive of McArthurGlen Group, said: “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.

“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.”

McArthurGlen expected to deliver nearly 6 billion euros for its brand partners

The group also added that it is continuing to see a “robust recovery” of international tourism to its outlets in 2024, with year-to-date tax-free sales figures up 13 percent on last year – surpassing pre-pandemic levels.

In addition, its outlets have seen a sharp increase in visitors from the Eastern Mediterranean region, for example Turkey, and a steady return of customers from Greater China, along with visitors from the Middle East, Southeast Asia and the US.

Joan Jove, co-chief executive of McArthurGlen Group, added: “Our strong growth this year clearly shows the continued resilience of our business model. Customers across Europe are attracted by the promise of up to 70 percent savings year-round on their favourite brands, while our consistently compelling calendar of promotional events and unique in-centre experiences ensures our guests enjoy real value for money as well as an extraordinary day-out every time they visit us.”

McArthurGlen adds 60 new brands and announces continued expansion

The overall growth has also been helped by the arrival of 60 new brands to its outlets this year and the opening of more than 350 stores. Those brands include Alexander McQueen, Aquazzura, Mason Garments, Forte_Forte, Aquascutum, Hoff, Goldbergh, Slowear, Sunspel, Pangaia and Marc Jacobs.

It also states it has enhanced the “elevation of its brand mix,” especially within its food and drink offering to bolster the customer experience. New openings have included upmarket bakery concept Gail’s, ice-cream brand Ben & Jerry’s and popular café Joe & the Juice.

Nick Brady, group managing director for Leasing at McArthurGlen, added: “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.

“As leaders in the outlet market, our centres 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 designer outlet also added that the growing demand for destination shopping is underpinning its expansion plans, which will see new phases in the UK, Canada, Spain, Italy, and the Netherlands.

Designer Outlet West Midlands will see phases II and III, following the continued success of the centre’s first phase, which opened in 2021. The additional two phases, spanning 98,000 square feet, will add 50 new units to the centre. Once completed, the project will span 285,000 square feet 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.

In Canada, phase III of the Vancouver Designer Outlet is currently being planned and will add 65,000 square feet, introducing 27 new luxury and premium stores. This phase is set to open in spring 2026.

Other expansion plans include the second phase of Designer Outlet Málaga, adding 70 new stores, while Designer Outlet Castel Romano will add 35 new stores with its phase IV, and Designer Outlet Roosendaal’s phase III has received zoning approval for a potential expansion.