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McArthur Glen Grows in Italy

The Italian branch of the U.K.-based outlet mall developer is closing 2012 with double-digit growth.

MILAN — McArthurGlen Designer Outlets, the Italian branch of the U.K.-based outlet mall developer, is closing 2012 with double-digit growth.

In the first 11 months of the year, revenues at the company that controls five designer outlets in Italy climbed 10 percent to 800 million euros, or $1.03 billion at current exchange, compared with the same period last year.

On a like-for-like basis, sales grew 3 percent.

 

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The number of visitors increased 12 percent to 16.2 million. According to data based on Tax Refund transactions, 15.1 percent of them were non-European tourists. In particular, consumers from Russia accounted for 50.5 percent, while visitors from China and Korea represented 7.6 and 5 percent, respectively, of the total tourists shopping at the Italian McArthurGlen outlets.

According to Roberto Meneghesso, the company’s country manager for Italy, tourism represents a pivotal factor in the growth of McArthurGlen outlets. “Non-Italian tourists tend to spend much more than Italians,” he said. “Russians are spending an average of 400 euros [$518.50] each and Chinese people about 500 euros [$648.20] each.”

Meneghesso also noticed that an increased number of people visited McArthurGlen outlets in Italy for the first time this year. “Our business is anticyclical,” he said. “Due to the crisis, those who were used to buying luxury products in stores now are approaching outlets to keep the same lifestyle standards.”

According to Meneghesso, McArthurGlen Designer Outlets aims to grow about 5 percent in 2013, “investing even more in marketing in order to attract more tourists and new customers.”