Sales exceeded €1.056 billion at NEINVER-managed outlet centres in 2015, a 10% increase

Madrid. 8th March 2016 – NEINVER, a Spanish company specialised in investment, development and management of retail properties—Europe’s second-largest operator of outlet centres—ended FY 2015 with very positive results for both foot traffic and sales at the outlet centres it manages in 6 European markets. Total sales for all the outlet centres it operates under The Style Outlets and FACTORY brands surpassed €1.056 billion, 10% more than in 2014. The centres’ foot traffic totalled 44.25 million visits, up 6% from the previous year.

"Our appraisal of FY 2015 is very positive, since most of the markets where we operate continued to have double-digit sales growth. In an increasingly competitive environment, these results vouch for the success of our management model, which has become a benchmark in our industry for investors, brands and shoppers alike,” explains Carlos González, NEINVER’s Managing Director.

The retail properties it managed in 2015 (including shopping centres, retail parks and outlet centres) bolstered their foot traffic by 5% and sales by 10% compared to 2014, exceeding €1.228 billion

Sales grew at every outlet centre

FY 2015 was characterised by increased sales at each of the 15 outlet centres NEINVER manages in Europe. The biggest improvement was at Vila do Conde The Style Outlets, in Portugal, whose sales rose 19% compared to 2014. In 2015, Vila do Conde The Style Outlets broadened its mix of stores by adding a dozen new shops to the centre, and launched new services that enhance the customers’ shopping experience. This outlet centre in northern Portugal solidified its positioning as a benchmark in its catchment area and increased visits by 2%, to more than 4.2 million people.

In Poland, the five outlet centres that NEINVER manages under the FACTORY brand improved their combined sales by 15% over 2014 and recorded 13.8 million visitors, up 8% from 2014. In 2015, NEINVER also expanded FACTORY Ursus to 19,700 m2 of GLA, making it Warsaw’s largest outlet centre and adding top international brands.

In France, Roppenheim The Style Outlets broadened its offerings with 10 new brands and continued its commitment to the pop-up store format, to make the centre more dynamic. It also launched additional transport service to and from the cities of Strasbourg (France) and Karlsruhe and Baden-Baden (Germany). All these changes helped boost sales by 12% in 2015 and attracted more than 1.5 million visits, up 9% from 2014.

In Spain, the five centres that NEINVER manages under The Style Outlets brand showed significant growth in sales and foot traffic compared to the previous year. Thus in 2015, their combined sales rose 11% compared to 2014 and foot traffic grew by 9% to more than 14.4 million visits. These solid results reflect the platform’s consolidation in Spain since the three Greater Madrid centres were rebranded as The Style Outlets in late 2013. Additionally, NEINVER added a large digital component to its management model as part of the group’s omni-channel strategy, rolling out new digital tools and channels to leverage its relationship with shoppers and to interact with them better in the centres.

In Italy, the two The Style Outlets centres that NEINVER manages in that country continue to position themselves as benchmark shopping destinations thanks to their excellent mix of stores. Retail has not really recovered yet in that market but the centres still ended FY 2015 with very positive results. Their combined sales were 7% higher than in 2014, and their total foot traffic rose by 1%, to more than 6.4 million people.

In Germany, Zweibrücken The Style Outlets—which the top international brands honoured as one of the ten best outlet centres in Europe in 2015, according to Ecostra’s latest “Factory Outlet Center Performance” report—increased its sales by 2% compared to the previous year. Visits to this NEINVER-managed centre remained flat at around 3.8 million.

The 20 retail properties surpassed €1.2 billion in sales

In FY 2015, the retail properties managed by NEINVER showed very positive overall progress. Combined sales in 2015 at the 20 retail centres that the group manages were 10% above the 2014 figures, with a total of more than €1.228 billion. Foot traffic also improved considerably, rising by 5% to more than 57 million visits. These numbers do not include Galeria Katowicka in Poland, which was sold in November 2015; Nassica Getafe in Spain, for which no comparative data is available; or Megapark Barakaldo, which NEINVER has managed only since January of this year.

After signing the joint-venture agreement with KKR in September 2014 to acquire Nassica Getafe in Spain, after selling Galeria Katowicka in Poland in November 2015, and after signing an agreement with the Lar Group in January 2016 to manage Barakaldo Park in Spain (which includes a retail park and outlet centre), NEINVER now manages more than 566,000 m2 of GLA and 22 retail property assets, including shopping centres, retail parks and outlet centres.

The company also continues to manage Wroclaw Futura Park, featuring a retail park and outlet centre, which was sold by IRUS European Retail Property Fund.

Another milestone for the company in 2015 was the digital transformation of its management model as part of the group’s omni-channel strategy. This change in the management model was a response to the new relationship model between shoppers and brands, and is strengthening NEINVER’s position as the industry leader.