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 the world’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.
