Over the last 10 years, GVA Outlets has built a highly successful Outlet team within GVA Grimley, one of the UK's leading commercial property consultants, with capabilities across Europe to manage, operate and market outlet center schemes. GVA Outlets has built a number of strong strategic relationships with retailers, investors and operators and is now ready to enter a new phase of growth by concentrating on developing this business exclusively for Liebrecht & wooD under the FASHION HOUSE Group.
Brendon O'Reilly, Managing Director, FASHION HOUSE Group, said: "We can confirm that as of today; December 9, 2010; GVA Outlets will transfer ownership to work exclusively for Liebrecht & wooD to form FASHION HOUSE Group (FHGR). This is a great move for all parties creating a new and improved platform from which to grow the successful FASHION HOUSE portfolio while continuing to provide a dedicated service to GVA Outlets existing and future non-FASHION HOUSE clients."
Patrick Van Den Bossche, Managing Director at Liebrecht & wooD Group, commented: "We have an excellent working relationship with the GVA Outlets team and GVA Grimley and we want to harness and build on that. This transfer of skills will provide Liebrecht & wooD with a new world class outlet team, with an excellent track record of growing and developing outlet centers in Europe. We see this as a great opportunity to build on the success of the FASHION HOUSE brand in Poland and Romania as well as to support and grow the wider GVA Outlets management portfolio."
Rob Bould, Chief Executive at GVA Grimley, adds: "This is a real 'win win' for both businesses. We want to continue to grow our working relationship with Liebrecht & wooD and by investing our team into their business we can ensure that we deliver this exactly where it's needed. It's a great transfer of skills and shows our commitment to growing their business."
FASHION HOUSE Group incorporates FASHION HOUSE Development and GVA Outlets existing offers as well as providing room for growth. GVA Outlets will continue to advise independent developers on the ideal location and leasing, launching and managing of their outlet center. For existing clients it is business as usual as they continue to receive the high levels of service they have come to expect from the GVA Outlet team. GVA Grimley will continue to provide investment skills and capabilities to FASHION HOUSE Group through its London office.
FASHION HOUSE Development will continue to be driven through the Liebrecht & wooD investment fund either through 100% investment projects and JV partnerships. A new franchise offer has also been launched offering a third party investment platform under the FASHION HOUSE brand. There are currently three FASHION HOUSE outlet centers in Poland, owned by Polonia Property Fund II Limited, one in Bucharest owned by the FHGR with a second Bucharest site, a site in Moscow and one in St Petersburg all in development and also owned by the FHGR. The first franchise Outlet Center is in development in Belgrade with further projects to be announced over the coming months.
Brendon comments on the way forward: "We have developed a new and unique offer to connect the existing services on offer by launching a first for the outlet sector, FASHION HOUSE Franchise, a new and unique branded one-stop outlet concept for investors and developers looking to enter the booming outlet sector. It offers all the experience and expertise needed by the one off developer, delivered in a flexible franchise package. This brings together the GVA Outlets high level of service and access to a tried and tested consumer facing brand FASHION HOUSE."
Brendon will head up FASHION HOUSE Group as Managing Director and former FASHION HOUSE Development Chief Executive Officer, Neil Thompson, will take the role of Chief Commercial Officer.
Brendon explains: "This is the right time for a change and the FASHION HOUSE brand is the ideal vehicle. FASHION HOUSE Group will continue as a leading player in the outlet sector and will provide the one-stop outlet concept for investors and developers looking to enter the booming outlet sector. It offers all the experience and expertise needed by the one off developer, delivered in a flexible franchise package. This brings together the GVA Outlets high level of service and access to a tried and tested consumer facing brand FASHION HOUSE."
Brendon will head up FASHION HOUSE Group as Managing Director and former FASHION HOUSE Development Chief Executive Officer, Neil Thompson, will take the role of Chief Commercial Officer.
Brendon explains: “This is the right time for a change and the FASHION HOUSE brand is the ideal vehicle. FASHION HOUSE Group will continue as a leading player in the outletsector and will provide the one-stop shop for everything you need to know about outlets and more from inception to investor exit, all of which are carried out to recognised international standards.”
He adds, “FASHION HOUSE Group manage and operate three Polish outlet centers in Warsaw, Gdansk, Sosnowiec as well as centers in Hungary, Denmark, Switzerland, Czech Republic and Romania. We also have sites in development in Moscow, St Petersburg, Bucharest, Belgrade and we have just announced a new site in Kiev. A further 10 projects are in the pipeline and more details of these will be announced soon. From here FASHION HOUSE Group has the potential to be the biggest outlet operator in Europe and possibly beyond and we are looking forward to it.”
Source: GVA Grimley
