ICON Outlet performs with strong trading figures
ICON Outlet at The O2, the 210,000 sq ft premium urban outlet developed by AEG and Crosstree Real Estate Partners, has announced a successful first year of trading and its strongest six-week performance yet. Leading up to Christmas and bolstered by a successful Black Friday, ICON Outlet has experienced a 36% uplift in like-for-like sales over the last six weeks.
This year the destination has signed 17 brands including leading international brands such as Nike, adidas, New Balance, ASICS, Tommy Hilfiger, by CHLOE, Hai Di Lao, Brooks Brothers, and the first international debut for Butcher and the Farmer. In addition, exclusive fashion events company Showcase, Regatta, KickTown, Craghoppers and Beauty Outlet have all launched at ICON Outlet.
This news coincides with a record breaking year for The O2, which reached the milestone of 25 million event tickets sold, reaffirming the destination’s position as the world’s most popular music, entertainment and leisure venue. Since ICON Outlet opened its doors on October 16 2018, The O2 has continued to add to its offer with Oxygen Freejumping trampolining park making its debut; a new street food destination created with indie brands Hook, Scarlet, Beer + Burger and Thunderbird Fried Chicken; Cineworld expanding to become London’s largest cinema with 19 screens; and Mamma Mia! The Party launching alongside the successful Super Troupers exhibition. Next year, dates have been announced for Stormzy, Billie Eilish and Dianna Ross, whilst residencies have been secured for Queen + Adam Lambert, Elton John, and the final year of the Nitto ATP tennis finals.
Speaking on behalf of AEG and Crosstree, Marion Dillon, Leasing Director for ICON Outlet, said: “Since launching ICON Outlet last year, we have secured many leading brands which is testament to our appeal, and we have seen impressive growth as the destination has successfully integrated retail with music and leisure. ICON Outlet’s performance highlights the relevance of adding best in class retail to theworld’s number one entertainment venue.”
Recently shortlisted for a Revo Gold Award, Ed Cooke from Revo added: “Our experts Judges concluded that ICON Outlet is an impressive, creative use of optimising The O2’s existing footprint and canopy. It is a great example of an already an established destination being enhanced, utilising The O2 and appealing to wider users. The 80% pre-let figures, service offers including shop and drop/deliver to home, VIP card, loyalty and data capture, which assisted marketing to create repeat visits, are all the kind of impressive interventions we are seeing across the retail property market, which gives me confidence the future of retail places will sustain.”
CBRE and CWM are the retail leasing agents for ICON Outlet, with DCL leading on the leisure leasing.
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For more information contact
Amanda McNally: 07495 461573 / amandamcnally@averpr.com
Yasemin Kiani: 07932036085 / yaseminkiani@averpr.com
About The O2
The O2 is the world’s most popular music, entertainment and leisure venue and has been visited by more than 70 million people since opening in 2007.
Home to The O2 arena, which hosts over 200 events a year, The O2 is also home to a second venue, indigo at The O2; Up at The O2, a climbing experience across the famous roof; ICON Outlet, London’s premium outlet shopping destination with up to 70% off 60 superstar brands; Cineworld, now London’s largest cinema with 19 screens; the 12-lane boutique Hollywood Bowl; Oxygen Freejumping trampoline park; over 30 bars and restaurants including the Street Food Quarter and ‘Mamma Mia! The Party’, an immersive theatrical and dining experience.
About ICON Outlet
ICON Outlet is a joint venture between AEG and Crosstree Real Estate Partners. The 210,000 sq. ft. premium urban outlet brings shopping for the first time to The O2, the world’s most popular music and entertainment venue. With over 60 superstar brands offering up to 70% off, including Nike, adidas, Ted Baker, Guess, Calvin Klein and Skechers, The O2’s offering is evolving to reflect the consumer-led convergence of retail, leisure and entertainment. ICON Outlet provides the best of accessible premium fashion and lifestyle brands and is just 15-minutes from central London, served by the Jubilee Line, Thames Clippers, bus services, Crossrail (at Canary Wharf from 2019/2020), and the Emirates Airline.
About AEG
Headquartered in Los Angeles, California, AEG is the world's leading sports and live entertainment company. With offices on five continents, AEG operates in the following business segments: AEG Facilities, which is affiliated with or owns, manages or consults with more than 120 preeminent arenas, stadiums, theaters, clubs and convention centers around the world including The O2 Arena, the Sprint Center and the Mercedes-Benz Arenas; AEG Presents, which is dedicated to all aspects of live contemporary music performances, including producing and promoting global and regional concert tours, music and special events and world-renowned festivals; AEG Real Estate, which develops world-class venues, as well as major sports and entertainment districts like STAPLES Center and L.A. LIVE; AEG Sports, which is the world's largest operator of sports franchises and high-profile sporting events; and AEG Global Partnerships, which oversees worldwide sales and servicing of sponsorships including naming rights, premium seating and other strategic partnerships. Through its worldwide network of venues, portfolio of powerful sports and music brands and its integrated entertainment districts, AEG entertains more than 100 million guests annually. More information about AEG can be found at www.aegworldwide.com.
About Crosstree
Crosstree Real Estate Partners is a private real estate investment firm with a focus on the UK market. Founded in 2011 and based in London, Crosstree seeks properties in dynamic mixed use areas that require significant capital investment and offer compelling long term prospects through active repositioning and quality design. Crosstree’s portfolio includes a variety of projects across London including office properties, retail and leisure space, hotels and residential development. In addition to The O2, some of Crosstree’s most significant projects include The Berkeley Estate (a collection of mixed-use buildings in Mayfair opposite The Ritz), The Standard, London (a 270-bedroom hotel under development in King’s Cross), and The Bower, Shoreditch (a 400,000 sf office-led redevelopment on Old Street Roundabout). We concentrate on a few exceptional schemes at any one time, and seek to work with best-in-class partners, professionals and designers.
Further information can be found at www.crosstree.com.