Rioja Estates and TORG International have recently announced a strategic partnership to develop new outlet centres in both Sweden and the UK. The collaboration between these two companies will involve jointly leasing and managing the Malmö Designer Village in Sweden and the Grantham Designer Outlet Village in the UK. This move is an integral part of their overall strategy to bring outlet centres to emerging and unsaturated markets, ultimately positioning themselves as one of the leading independent outlet developers in Europe and the UK.

The Malmö and Grantham developments were initially being pursued by Rioja Estates; however, it was at the Mapic 2021 event where the representatives from both companies met and decided to join forces. Robert van den Heuvel, TORG’s partner for development and leasing, expressed his admiration for Rioja’s ongoing projects in Sweden and the UK. On the other hand, Barbara Horatz, TORG’s marketing and retail partner, emphasized that both developments meet all the essential criteria necessary for a successful outlet centre. These include strategic locations, strong surrounding catchment areas, tourism potential, and sustainable architecture.

The Grantham outlet is currently under construction and is expected to open its doors in the autumn of 2023. It anticipates attracting approximately 3.5 million visitors annually, benefiting greatly from the lack of retail competition in its immediate vicinity. The Malmö outlet, however, has its sights set on becoming the leading outlet centre in all of Scandinavia and aims to open in the summer of 2025. It is predicted to achieve traffic and sales densities that place it within the top 25% of all outlet centres in Europe.

Giles Membrey, head of Rioja Estates, views the partnership with TORG International as just the beginning of a collaborative and fruitful relationship. He firmly believes that there are numerous untapped opportunities for joint outlet developments not only in Europe but also in major markets around the world.

Outlet centres have consistently proven their resilience and continued success as popular retail destinations. The partnership between Rioja Estates and TORG International will undoubtedly fortify their position within the market and enable them to tap into emerging markets. With their strategic locations and strong potential, the Malmö and Grantham developments are poised to make a significant impact within the outlet industry. The anticipated success of these projects will likely pave the way for more extensive collaborations between the two companies in the future.

To learn more about Rioja Estates, visit their official website here. For information on TORG International and their other projects, please visit their official website here.