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McArthurGlen announces record growth in annual sales

By Vivian Hendriksz

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Business

London - McArthurGlen Group, owner of designer outlet centres, has reported a record growth in annual sales this year, with like-for-like sales increasing 10 percent on the last year to 4 billion euros (3.4 billion pounds).

The annual total turnover of the entire group, which includes 22 outlet centres across Europe and Canada, grew 13 percent from 2015, as McArthurGlen continues to expand. The group aims to open its 23rd outlet centre in Provence, southern France sometime in the second quarter of 2017 and is set to expand into its tenth country next year, when constructions begins on its centre in Malaga, southern Spain.

"Our three-pronged approach of organic growth, new development, and acquisition is paying dividends," said Julia Calabrese, CEO of McArthurGlen Group in a statement. "Our newly acquired centre in Ochtrup [north-west Germany] performed exceptionally well. We are 75 percent leased in Provence, our first south of France designer outlet, and we have also just seen record weekend footfall at our flagship designer outlet in Serravalle, near Milan."

The group is said to have welcomed over 80 million customers to its shopping centres over the last 12 months, as their network of partners, which includes the likes of Armani and Versace and grown to nearly 1,000.

Photos: McArthurGlen Rome and Vancouver

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