In Q3 2012, Moscow will witness the opening of the first concept project for smart shoppers Vnukovo Outlet Village. Colliers International, international property consulting company, has been appointed leasing agent for Vnukovo Outlet Village.
At this time, the outlet format is not represented in Russia. By 2012, three outlets are due to open, however, since the catchment area of outlet centers is far greater than that of traditional shopping centers, as a matter of fact, Moscow and the entire Moscow Region appear completely covered. This means that the three properties will fully cater for consumer demand with regard to the outlet shopping format. This is a typical state of affairs at most European and American metropolises.
Vnukovo Outlet Village's planning solutions are reminiscent of outlets in the USA, the country of origin for this business. An outlet comprises two streets joined by a central square. In terms of artistic solutions, façade design priorities included unchallenging construction process, harmony between the architecture and the surrounding landscape, as well as homage to Russia's building traditions: lightness, simplicity, use of wooden elements in façade décor.
At Vnukovo Outlet Village, 150 shops will be operating, and the plan is to attract the best international brands which would be available at attractive prices. Low pricing can be achieved thanks to the property's location outside of the city's boundaries, hence rental rates can be made lower than at shopping centers within the city limits. Another contributing factor is that outlet centers sell goods under well-known brands directly from the manufacturer, without any intermediaries.
Galina Maliborskaya, Director, Retail Property Department, Colliers International: "The outlet format originates from the US, where 192 outlets are operating today, with a total GLA of 6.5 million m² and goods turnover of over US $10 billion. In Europe, the outlet format is popular as well, and the number of properties amounts to 132, with active expansion under way into Eastern European countries.
"Retailers also display a growing interest in outlet centers: previously, sales at traditional shopping centers and outlets were at a ratio of about nine to one; these days, retailers are witnessing a growing share of outlet sales, up to half of the network's overall turnover.
"It is noteworthy that goods turnover at European outlet centers, which offer famous brands to their clients, amounts to 4,0006,000 per m² of GLA, and this is even higher than the figures for traditional shopping centers."
Dmitry Kulkov, Partner, Vnukovo Outlet Village: "The emergence of the outlet format is a natural process in retail property develop