London Designer Outlet (LDO) has reported a total rise in revenues of 7% over the Christmas trading period (24 December to 30 December).
The Wembley Park-based shopping and leisure destination said like-for-likes were up 5% year on year and attributed its success to “attractive discounting, experiential events and strong performance from core brands”. LDO has achieved 17 consecutive quarters of growth.
Over the period sales of footwear rose by +35%, year-on-year, homeware was up +21%, and health & beauty climbed +19%. Spend per head was up by more than +11% which LDO said recognised the impact of the introduction in 2017 of new brands such as Converse, with its first UK store, Haribo, with its first UK outlet store, and Dr. Martens.
LDO is one of a new wave of outlet centres which blends retail, food and beverage, leisure and residential in an urban setting. It covers 265,000 sq ft of space, with 70 outlet stores, coffee shops and restaurants, a nine-screen Cineworld and a large children’s play park.
It is managed by Realm, the UK’s largest specialist outlet operator, and is owned by Quintain, the London developer transforming Wembley Park through a mixed-use regeneration project. Sue Shepherd, Realm’s Centre Manager for LDO, said: “With money tight for most families, outlet shopping is now a mainstream way to secure aspirational and desirable brands at affordable prices. Our strong trading figures show the continuing appeal of off-price shopping, resulting in an annual footfall of 7m.
“This means twice as many people visit LDO each year than go to Wembley Stadium and The SSE Arena, combined. However, unlike many other retail destinations, our discounts of up to 70% off RRP continue throughout the year,” she added.
The centre has also seen a rise in international customers with tourism sales up by +35%, year-on-year for the year-to-date covering the first 11 months of 2017. Of the visitors from outside the EU, some 23% were Chinese (including from Hong Kong and Taiwan).
Yesterday Westfield revealed that footfall at its two London supermalls was up 1% over the festive period to 14.1m.