Value Retail Founder and Chairman Scott Malkin — whose portfolio includes famous UK luxury outlet stores Bicester Village — recently shared his early takeaways from reopening. Since reopening its two shopping "villages" in Suzhou and Pudong New District in China in March (after closing in February), sales have risen compared to the same period last year. While foot traffic has not reached pre-crisis levels, the spend per visit has increased. "Again, [it's] early days but the numbers are very positive," Malkin said. "Our fingers are crossed, but we hope we can make our figures for the year in China… The category overall… has come back strongly so that's a light at the end of the proverbial tunnel for the west. It shows it can be done and that's very encouraging." As Value Retail moves to reopen four more "villages" across Europe in the coming weeks, Malkin hopes to continue to see sales increase, generated from local luxury consumers, as shopper spend more domestically at locations closer to their homes.

full article by BOF: The Future of the Off-Price Market

wwd interview of founder of Value Retail, and of the group marketing and retail director

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