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Turkey outpaces European countries with its investments in outlet centers

Posted by TURKISH ESTATE on 24/12/2016
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Turkey surpasses European countries with its investments in outlet centers, in which manufacturers sell their products directly to the public through their own stores.

Turkey ranks second among European countries right after the United Kingdom, with 19 outlet centers with 382,781 square meters leasable area. In the U.K. there are some 29 outlet centers with 474,881 square meters leasable area. Italy ranks third with 12 outlet centers, while France ranks fourth with 11.

The total number of outlet centers in Europe is 113, with more than 3.13 million square meters leasable area. Meanwhile, the United States is home to 222 outlet centers with 5.57 million square meters leasable area.

In the meantime, world-renowned brands continue to increase their investments in the outlet centers. One-third of stores run by Mudo, a concept clothing and home accessory brand, are outlet stores. Boyner, another clothing giant, is also planning to open three new outlet stores this year.

Park Bravo Group currently owns five outlet centers scattered all over the country. These outlet centers, which are spread over a total of 1,500 square meters, constitute 13 percent of all Park Bravo Stores as well as 10 percent of the company’s total turnover. The group has plans to invest further in outlet centers.

Outlet centers provide a great alternative for people who are looking to dress in brand name clothing, but have a limited budget. As opposed to the markets, outlet centers currently are not experiencing stagnation.

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