Sylvie Freund-Pickavance, the head of the expansion strategy at Value Retail Group, recently shared the secrets behind the success of luxury outlet village destinations in a podcast episode. Value Retail Group, known for its Bicester Collection, operates 11 luxury shopping-centre destinations in Europe and Asia, including popular villages such as La Vallée Village in Paris, Bicester Village in Oxfordshire, and various locations in Shanghai and Suzhou.
These luxury outlet villages have strategically positioned themselves near major cities and capitals, attracting a wide range of customers. Notable brands like Dolce & Gabbana, Diesel, Coach, Max Mara, Karl Lagerfeld, and Jimmy Choo can be found in these villages, offering shoppers a high-end shopping experience at discounted prices.
One of the main factors contributing to the success of Value Retail Group’s villages is their focus on customer experience and hospitality. These destinations aim to provide visitors with an experience that goes beyond traditional shopping. The group manages the villages with a retailer mentality, paying close attention to elements such as architecture, landscaping, services, and brand curation. This holistic approach ensures that visitors have an enjoyable and memorable time while exploring the village.
To keep up with changing trends and promote healthy competition, the Bicester Collection villages regularly rotate approximately one-third of the brands they host each year. This not only attracts returning customers but also keeps the offerings fresh and exciting. The group also uses data collection and analysis to understand global fashion trends, customer profiles, and brand performance. This valuable information helps them improve their services and support brands in achieving better results.
In response to the Covid-19 pandemic, the luxury fashion industry and outlet villages have been finding innovative ways to attract customers and revive luxury consumption. The Value Retail Group’s international villages have been proactively upgrading their customer experiences and services to adapt to the changing landscape. These efforts aim to entice consumers back to physical stores and foster loyalty in a post-pandemic world.
Sylvie Freund-Pickavance’s insights into the strategy behind luxury outlet village destinations shed light on the combination of real estate, retail, hospitality, and tourism that has proven to be successful for the Bicester Collection and other villages under the Value Retail Group. By prioritizing customer experience, regularly refreshing brand offerings, and utilizing data-driven insights, they continue to thrive in the luxury retail industry.
Useful links:
– [Value Retail Group website](https://www.value-retail.com/en/)
– [Bicester Village website](https://www.bicestervillage.com/en/home/)
