Fashion House Development – a sizeable force

FHD is the successor to the Warsaw-based The Outlet Company (TOC), which developed the market leading portfolio of successful Fashion House Outlet Centres in Poland. Following the sale of these outlet centres to Allied Irish Bank’s Polonia Property Fund II, FHD developed a unique outlet offer.

FHD are the only outlet developer in Europe whose business model enables it to work with 100 percent FHD own-investor funded projects, or match up FHD investors with joint venture partners on Fashion House projects, or add value to appropriate 100 percent third party owned outlet development projects, by providing the Fashion House brand under licence tied in with the use of FHD’s renowned outlet expertise in development and management.

All three of the Polish outlet centres continue to be managed under the Fashion House brand licence. FHD offers investors and developers an outlet-dedicated, premium quality, experienced team, expert in the fields of outlet shopping centre design, development, finance, operation and management across Europe. Consequently, the FH brand has built up a notable following of world-famous branded retail tenants.

From their official launch in September 2008 FHD has gone from strength to strength.

Neil Thompson, CEO, Fashion House Development is delighted: ‘We have built a great offer and take great care in developing outlet centres that work for investors, consumers, retailers; Outlet Centres that perform well from an operational point of view and that also look beautiful. We are very proud of the work we do and professionalism of the whole of the Fashion House team and it is great to see the success we have achieved in all of the marketplaces we have gone into.’

Poland All of the Polish centres are continuing to showing remarkable growth despite the downturn including increasing footfall, sales and spend.

Fashion House Outlet Centre Sosnowiec opened the 6,500sq m Phase II, home to over 20 new outlet brands at a cost €10m and Phase III opened in March 2009 adding a final 5,500sq m.

At the inaugural CEE Retail Real Estate Awards, highlighting the best commercial retail real estate companies, retailers and projects in the CEE region, Fashion House Outlet Centre Warsaw won the Factory Outlet of the Year Award.

Fashion House Outlet Centre Gdansk Phase II is under construction and is due to open in November 2009 and is currently letting fast. The €15m project will create a further 200 jobs and will consist of a build area of 10,000sq m with a GLA of 7,300sq m, adding 50 new outlets.

Romania FHD opened the first Outlet Centre in Romania late in 2008 with Fashion House Outlet Centre Bucharest West and at 22,000sq m it is the largest Phase I development opening in the CEE. The centre opened almost fully let and only has a few spaces for any interested brands to add to the high profile line up that are already signed up or open. With the success of the opening they have a second site in the planning stages in Bucharest East.

Russia and Beyond FHD have also made the move into Russia and have secured a plot in Moscow and are currently in the development stage and are negotiating on a plot in St Petersburg. FHD is currently developing a considerable pipeline of outlet centre projects in Romania, Russia and Ukraine.

Neil Thompson adds: ‘We were the first portfolio outlet brand in Poland and now in Romania and we will be the first in Russia and the Ukraine. We are fast becoming the leading name in the outlet sector in the CEE and that is a fact we are very proud of.’

For more information
Contact Neil Thompson, CEO, Fashion House Development, Email: neil.thompson@fashionhouse.com, or Tel: +44 7771 947 856 or visit fashionhouse.com