Value Retail is in expansion mode.
According to chief executive officer Desirée Bollier, the company specialized in the development of luxury outlet shopping destinations is investing 30 million euros, or $34.3 million at current exchange, in the revamping and enlargement of Fidenza Village. Located an hour outside Milan, close to Parma in the Emilia-Romagna region, the outlet shopping center will be redesigned to include more than 126 stores and will debut the new format in November.
“We follow trends, this is our specialty,” Bollier said. “Customers expect us to deliver on trends and my focus is to give customers exactly what they need — that’s what dictates the mix of brands in the shopping village.”
In order to both present visitors with new products and support the new generation of young designers, Fidenza Village teamed with Vogue Italia and the Italian Fashion Chamber to debut “The Creative Spot.” Located at the entrance of the shopping center, this a new store, designed by architect Massimiliano Locatelli, carrying the collections of 18 upcoming labels, including Stella Jean, Co|Te, Solovière, Daisy Shely, Casamadre and Tak.Ori, among others.
In the first quarter of 2016, Fidenza Village’s total sales rose 10 percent, while Tax Free purchases, especially by Chinese tourists, grew 24 percent compared to the previous year. These were boosted also by the partnerships signed by Fidenza Village with several tour operators and airways, such as Alitalia-Etihad, Air China, Cathay Pacific, Qatar Airways and Lufthansa, among others.
“The average expense really depends on customers’ nationality,” said Bollier, who revealed that, for example, Chinese visitors tend to make purchases for an average of 344 euros, or $392.
In addition, the company, through its Chinese affiliate Value Retail China, is inaugurating Shanghai Village on May 19. The shopping center, which covers an area of 592,0150 square feet, is adjacent to the Shanghai Disney Resort and features 100 boutiques and 11 restaurants.