Icon Outlet out-performs London post-lockdown

Icon Outlet has revealed its performance figures for the 12-week period post-lockdown, with sales increasing by 30% between the first week and the 12th.  Sales have trended from approximately 65% of previous year like-for-like at reopening to around 95% like for like in weeks 11-12.  Icon Outlet’s weekly footfall has also doubled since reopening and now stands at 75% of prior year footfall.  The latter compares to an average footfall of 59% of pre-Covid levels for the average London High Street according to Springboard[1].

Icon Outlet also reported a bumper August Bank Holiday, with like-for-like sales growing by 13% year-on-year. The figures are evidence the shopping destination continues to buck the trend in London since reopening on the 15 June as an attractive and highly accessible location for visitors from Greater London and the South East.

The strength of Icon Outlet’s performance is a result of the urban outlet’s retail offer evolving post-lockdown, with international designer brand, Tommy Hilfiger Kidsjoining in recent weeks.  In addition, the recent opening of Haidilao Hot Potis attracting a new domestic Chinese customer and Icon Outlet is building a reputation as the ‘go-to’ retail destination in the capital.

Speaking on behalf of AEG and Crosstree, Marion Dillon, Leasing Director for Icon Outlet, commented:“Icon Outlet had already established itself as a standalone retail destination offering something different in the capital, but that position is even stronger now as Londoners and visitors from the South East adjust to shopping in the new reality.  Icon Outlet’s great value premium brands and its unique experience are proving to be an enduring combination.

“We have created a successful retail community in which operators thrive due to the appeal of Icon Outlet and its position as a key part of The O2, the world’s number one events and entertainment venue.”

The line-up of latest brands complements the day-out destination offer at The O2 for families this summer. Up at The O2, the 90 minute roofwalk, which is suitable for ages 8+ has reopened with reduced capacity climbs offering an exhilarating view from the top of The O2.  Oxygen Freejumping trampoline park, Hollywood Bowl, London’s largest cinema with a 19 screen Cineworld multiplex and KickTown, the world’s first technology-led football challenge experience, are all now reopen.

[1]Footfall for High Streets in Greater London during week commencing August 30