ICSC: International Council of Shopping Centers

U.K.'s McArthurGlen to build full-price malls

Factory outlet developer McArthurGlen says it will begin developing full-price malls through a joint venture with Altagamma, an association that represents and promotes Italian luxury brands. The company says the joint venture will build centers — full price and factory outlet style — in emerging markets and create retail stores in an upscale format, some in locations targeting travelers, such as airports. McArthurGlen operates 15 factory outlet malls in Europe, in the U.K., Austria, Germany, France, Italy and the Netherlands. Altagamma’s members includes such brands as Bottega Veneta, Bulgari, Emilio Pucci, Fendi and Versace. According to a McArthurGlen press release, the venture will benefit from the strength of Italy’s leading fashion brands along with the development expertise of McArthurGlen. It will look to opportunities in such emerging markets as India and Eastern Europe for its developments. The venture’s first joint project is McArthurGlen’s factory outlet outside Venice, Noventa di Piave, with 8,000 square meters (85,600 square feet) of retail space. The project will have a 4,500-square-meter retail area featuring Italian brands belonging to Altagamma. There are plans for similar developments in Naples, Sicily and Turin. “Our plan is to open new channels and expose prestigious brands to new customers,” Joey Kaempfer, chairman of McArthurGlen, said in the press release. “Our environments will be customised to local cultures and build value but ultimately they are intended to please the real master, the end consumer.”