With the looming Brexit and the uncertainty surrounding it, Value Retail has made a strategic decision to consolidate its European portfolio under its Irish arm. The company, renowned for its high-end outlet villages in major European cities such as London, Milan, Munich, and Dublin, has witnessed significant growth with sales reaching €2.9 billion last year.
In a move to ensure stability and streamline operations, Value Retail Management Ireland now holds ownership stakes in all European centers except Bicester Village. This shift in ownership extends to outlets in Germany and Italy, with undisclosed stakes in Spain, France, and Belgium. Additionally, key assets, including intellectual property and software, have been transferred to Irish companies, reinforcing the company’s commitment to long-term success in the European market post-Brexit.
The collaboration between Value Retail and Hammerson, which showcases luxury brands like Armani and Calvin Klein, underscores the company’s dedication to offering premium shopping experiences across Europe. Despite the challenges posed by Brexit, Value Retail’s proactive approach in reorganizing its ownership structure demonstrates its resilience and adaptability in navigating uncertain economic landscapes.
To learn more about Value Retail and its European portfolio, visit their official website here. For insights into the latest developments in the retail industry post-Brexit, check out this informative article here.
