- Danielle Wightman-Stone |
Icon Outlet, the new 210,000 square foot premium urban outlet set to open at The O2 in October, has announced that a raft of UK and International fashion brands have signed up for units.
The new development from AEG and Crosstree Real Estate Partners, aims to bring shopping and entertainment together to create a new shopping experience, and is part of The O2’s offering being evolved to reflect the consumer-led convergence of retail, leisure and entertainment.
The premium outlet will house 85 retailers, with the first to be announced including Hackett, Ted Baker, Guess, Gant, Calvin Klein, Crew Clothing, Jack Wills, Kurt Geiger, Aspinal of London, Levi’s, Pepe Jeans, Clarks and Skechers.
Whilst common in continental Europe and the US, urban outlets are a relatively new concept in the UK, as outlets tend to be located outside of major city centres. The aim of them is to combine the choice, convenience and value of online with the inspiration and engagement of the very best of physical retail, and with the excellent transport links it is expected to appeal to millennials and Generation Z consumers.
The retail offering will sit alongside 35,000 square foot of new restaurants, cafés and bars, as well as a 50,000 square foot cinema extension for Cineworld and a 30,000 square foot trampoline park, leased to Oxygen Freejumping.
In total, more than 75 percent of the space under development is let or under offer.
Commenting on the announcement, Alistair Wood, executive vice president for real estate and development for AEG, said in a press statement: “Icon Outlet is the most relevant retail and leisure destination set to open in Europe this year. Our understanding of consumers has informed every aspect of the development: from which brands have been selected, to how the experience responds to the unique setting under The O2’s world famous roof.
“Icon Outlet brings an exciting new element to The O2’s offer, further increasing its appeal as a destination providing unique experiences.”
The O2’s premium urban outlet announces first retailers
Icon Outlet is just 15-minutes from central London and, served by the Jubilee Line, Crossrail at Canary Wharf, MBNA Thames Clippers and The Emirates Airline and will be easy to reach for the majority of the capital’s ten million population, as well as the 31 million domestic and foreign visitors to London every year, said the development teams.
At present The O2 attracts nine million visitors to its 200 annual arena events, cinema, restaurants, bars and venues each year, with 75 percent of The O2’s current visitors coming from outside the catchment, and 50 percent are from CACI’s Affluent Achievers or Rising Prosperity Acorn groups, the UK’s highest spending consumers.
Marion Dillon, leasing director for Icon Outlet, added: “Icon Outlet at The O2 is long overdue in London. The capital has some of the youngest, most discerning consumers of any city in the world. These are people that often think online first when it comes to retail, and spend what would have been their shopping and leisure time seeking new experiences.
“Icon Outlet will be a destination that caters for both needs, bringing together choice, value and inspiration in a location that is not only one of the easiest to reach in London, but has a reputation for providing the very best of experiences for tourists, existing visitors to The O2, and a new generation of consumers. With Icon Outlet, The O2 evolves to become where retail and entertainment converge.”
In addition to the retail and leisure offer, Icon Outlet will bring new retail experiences to The O2, including a range of exclusive services such as personal shoppers and stylists, concierge luggage drop and hands-free shopping, a deluxe tax back lounge, and unique event shopping packages.
CGI Image: courtesy of Icon Outlet