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Icon Outlet celebrates successful year of trading

The Icon Outlet shopping destination at The O2 grew its like-for-like sales by 16% in 2022 despite multiple challenges throughout the year. It also saw a… View Article

SHOPPING CENTRES, HIGH STREETS & RETAIL PARKS

Icon Outlet celebrates successful year of trading

The Icon Outlet shopping destination at The O2 grew its like-for-like sales by 16% in 2022 despite multiple challenges throughout the year.

It also saw a 12% rise in weekly average sales and an average spend increase per customer of 16%.

December was a particularly strong month for the scheme with sales growth of 13% compared to 2019 during the ‘Super Saturday’ weekend of 17 to 18 December. Furthermore, it recorded its biggest ever day for sales on Boxing Day with a like-for-like uplift of 11% versus three years ago.

The results were achieved despite various challenges including Icon’s temporary closure due to extensive damage to The O2’s roof caused by Storm Eunice last February.

The O2’s Entertainment District has also reported an impressive year with sales increasing by 33% compared to 2019 and like-for-like footfall growing by 7%.

The Entertainment District and Icon Outlet are owned and operated by Waterfront Limited Partnership, a joint venture between AEG and Crosstree Real Estate Partners.

Janine Constantin-Russell, managing director of Icon Outlet and the Entertainment District at The O2, said: “We are extremely proud of the success enjoyed across The O2 in 2022. Together, as a formidable team, with colossal coordination, collaboration and a can-do attitude, we not only overcame the obstacles thrown at us last year, but we emerged stronger and more agile, and this is reflected in our impressive 2022 results.

“From a record-breaking summer and some of our best ever trading moments across the destination, to welcoming a host of new brands that are household names, we have celebrated solid growth across outlet shopping, leisure and F&B at The O2 and look forward to the year ahead to continue building on this success.”

Icon Outlet also added several high-profile brands to its retail line-up in the year including Superdry, Claire’s, Raging Bull and Murmur, as well as a short-term activations by Reiss and K-pop superstars BTS. The latter’s pop-up offered music-themed merchandise and a range of immersive experiences.

Louisa Dalgleish, leasing director of Icon Outlet at The O2, added: “The new additions to our enticing tenant mix reinforces The O2’s position as London’s leading day-come-night, all-encompassing destination where new and returning customers can shop, eat and play all under one iconic roof.

“From well-known brands like Superdry and Clarie’s, to global K-pop phenomenons like BTS bringing unique, interactive experiences to the destination, we’re continuing to push boundaries in the industry and attract a broader range of customers than ever before.”

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