Outlet Shopping at The O2, under the ownership and operation of Waterfront Limited Partnership – a joint venture between AEG and Crosstree Real Estate Partners, is currently in the limelight for its robust trading performance throughout October. This period of prosperity is punctuated by a particularly successful half-term week and the expansion of the Calvin Klein store, which now boasts an 87% increase in retail space at the renowned destination.
The recent period has seen the welcoming of new brands such as Carvela and French Connection, alongside the expansion of existing stores like Tommy Hilfiger and Lids. These developments have contributed to a notable 19% sales increase compared to October 2022, with a year-to-date rise of 51% against the previous year. The half-term week, spanning 21-29 October, saw sales surge by 19% relative to the same timeframe in 2022. This spike in sales was further bolstered by the buzz surrounding Madonna’s world tour at the arena and a double performance day featuring the noughties pop sensation, S Club.
The overall footfall within the entire complex has also seen an impressive 22% increase compared to October of the previous year. The year-to-date figures are similarly encouraging, with a 43% rise, underscoring The O2’s enduring allure in drawing both local and international visitors with its premium blend of tenants.
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The recent expansion of the Calvin Klein store is a testament to the destination’s magnetic pull for globally recognized brands. Now occupying 6,576 sq ft on the outlet’s upper level, the store has broadened its range to include a dedicated childrenswear section, alongside its comprehensive collections for men and women featuring apparel, seasonal items, footwear, and accessories.
Janine Constantin-Russell, Managing Director at the Entertainment District and Outlet Shopping at The O2, commented on the destination’s success: “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.”
She further added, “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.”
