Park Avenue Fashion Outlet, the only fashion outlet gallery in northern Spain outcomes its first six months with a positive result in terms of leasing, footfall and sales. Resolution Property purchased the center in 2006 advised by the real state consultants from Jones Lang Lasalle, who are actually developing and leading the operative management of the scheme . The acquisition supposed an investment above €200 million.

The numeric footfall results submit an average above 11,500 daily visitors, which means more than 3.5 million potential annual customers, and the management team even foresees the real possibility of increasing this figure insofar as new store openings are held.

After the first stage, the leased space supposes the 75% of GLA, holding up prestigious national and international brands such us Arc international, Nike Supersport, Calvin Klein, Levi Strauss or well known national designers such as Purificación Garcia, Jota + Ge or Javier Simorra.

The registered sales figure has been increased in a 147% with noticeable boosts during long banks holidays or vacational periods, a highlighted circumstance considering that the Basque Government does not allow Sunday or holiday openings.

Moreover, the sales value has raised a 189%, driven by the launch of the communication campaign, the gradual incorporation of new stores, the arrival of the autumn/winter collections and the upgrade of the facilities undertaken by the owners, Resolution Property.

In this regard, an important investment of €5 million has been developed in order to improve and step up the centre. For all of this, Resolution Property hired a team of specialists and consultants in matters such as landscaping, decoration and security. Specifically in gardening, the refurbishment was held by the famous national landscaper, Juan Von Knobloch, the artist responsible of the gardens at the Picasso Towers or of the Ritz Hotel, both located in Madrid.

All these efforts aimed to dig up and create the feeling of “Park Avenue´s Universe”, the essential basis of the “brand experience” or experiential marketing. This “Park Avenue experience” states at its last enhancement stage and includes a considerable outlay in terms of lightning, furniture and decoration. The change for the better will hit upon its ending as the last store openings are held during the 2008.

The reachable targets during the 2008, according to the international consultancy company, CACI, will add up to €40 million in sales and more than one million annual shoppers. Succulent figures for all the brands which are actually part of Park Avenue and for those which will join up the center in the following months.

The maximum responsible of the scheme management team, Jose Pedro Dancausa, from Jones Lang Lasalle, is pleased “for these first and successful six months which have confirmed we are on the right track” .Furthermore, he expects the 2008 to be “the definitive consolidation of the outlet as a reference location in northern Spain for leisure and shopping”

Besides the mentioned brands, Park Avenue hosts brands such us Mango, Fifty Factory from Cortefiel Group, the Catalonian brand Desigual, Mustang shoes or Charanga children´s fashion, which complete the commercial offer of local brands such as For (a multi-brand store which sells firms such as Chloe, Tommy Hilfiguer, Pepe Jeans, Belstaff, Custo Barcelona, Lois, Diesel) or Ayestarán ( a prestigious shoe chain store with designs made by DKNY, Pura Lopez, Ursula and Jaime Mascaró, Sebago, Timberland, Todds). All of them are followed by a long list of stores from the fashion, accessories and home deco field.

Source: Inforpress 25 January 2008