Rioja Estates, a prominent UK outlet developer, has recently teamed up with TORG International, a Swedish company, to collaborate on two new outlet projects. This partnership involves jointly leasing Malmö Designer Village in Sweden and Grantham Designer Outlet Village in the UK. The main objective of this collaboration is to introduce outlet centers to emerging and untapped markets. By joining forces, Rioja Estates and TORG International position themselves as one of the largest independent outlet developers not only in the UK and Europe but also worldwide.
The plans for the Malmö and Grantham developments were already in motion by Rioja Estates; however, the partnership with TORG International materialized after the two companies had a chance encounter at Mapic 2021. Robert van den Heuvel, TORG’s partner for development and leasing, expressed his admiration for Rioja Estates and their ongoing projects in Sweden and the UK. Barbara Horatz, marketing and retail partner at TORG International, believes that both developments meet all the crucial criteria for successful outlet centers, including strategic location, strong tourism potential, and environmentally sustainable architecture.
Grantham Designer Outlet Village is currently under construction and is expected to open its doors in Autumn 2023. It is projected to attract approximately 3.5 million visitors annually and is advantageous due to the lack of retail competition in the area. On the other hand, Malmö Designer Village aims to become the premier outlet destination in Scandinavia and has plans for a Summer 2025 opening. With its strategic location and target audience of Swedish and Danish consumers, it is anticipated to place within the top 25% of outlet centers in Europe in terms of footfall and generate above-average sales densities.
Giles Membrey, the CEO of Rioja Estates, envisions this partnership as the start of a mutually beneficial collaboration. He believes that there are numerous opportunities for joint outlet developments not only in Europe but also in other major global markets. The alliance between Rioja Estates and TORG International signifies the potential for further expansion and growth within the outlet center industry.
Outlet centers continue to thrive as popular retail destinations, and the collaboration between Rioja Estates and TORG International illustrates their dedication to extending the outlet experience to new markets. With their combined expertise and resources, they are poised to lead the way in outlet development and offer distinctive shopping opportunities for consumers in Sweden, the UK, and beyond.
Useful Links:
1. Rioja Estates Official Website
2. TORG International Official Website
