Outlet Shopping at The O2, which is owned and operated by Waterfront Limited Partnership, a joint venture between AEG and Crosstree Real Estate Partners, is celebrating a strong period of trading throughout October, solidified by a stellar half-term week and the recent opening of Calvin Klein’s significantly upsized store, marking an 87% increase in its retail footprint at the destination.
Having recently witnessed the arrival of Carvela, French Connection, and recently upsized stores for Tommy Hilfiger and Lids, Outlet Shopping at The O2 has reported a sales uplift of 19% when compared to October 2022, and an increase of 51% year-to-date vs 2022. During half term week (21-29 October), sales across outlet shopping were up 19% compared to the same period in 2022, bolstered by the launch of Madonna’s world tour in the arena, along with a double performance day by noughties chart-toppers, S Club.
Total footfall across the whole scheme has also welcomed an impressive 22% uplift vs October 2022, with year-to-date sales similarly up a stellar 43%, further demonstrating the continuing appeal of The O2’s premium tenant mix in attracting local and international visitors alike.
This strong uplift in sales and footfall at the destination also coincides with the arrival of Calvin Klein’s newly upsized store, measuring 6,576 sq ft on the outlet’s upper level. The store continues to showcase its extensive collections for men and women, stocking a range of apparel, seasonal items, footwear and accessories, and has also diversified and expanded its offering to include a dedicated childrenswear section. This significant upsize demonstrates the consistent appeal of Outlet Shopping at The O2 to internationally recognised brands, and signifies a further vote of confidence in the leading London destination.
Janine Constantin-Russell, Managing Director at the Entertainment District and Outlet Shopping at The O2, said: “Once again The O2 has demonstrated its position as a leading retail, leisure and entertainment destination. Our unrivalled 360-degree offering, encompassing a quality tenant mix and matchless visitor experience, is mirrored in the destination’s strong performance and we’re delighted to have surpassed last year’s results across sales and footfall.”
“In the past few months, we’ve witnessed several upsizes with brands reaffirming their commitment to our destination, most recently demonstrated by Calvin Klein; we’ve seen leisure operators announce their upcoming arrival to The O2; and we’ve driven our brand alignment strategy forward, reinforcing outlet shopping within the wider destination. We are a destination that never stands still, and these results highlight the efforts that we, our retailers, and operators, have collectively put in to create a compelling and unequalled offer. Excitingly, we are on track to experience one of our most successful years to date, and are looking forward to an even bigger and better 2024.”
