Global Arab Network | Middle East remains the fastest growing market for Chic Shopping

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Middle East remains the fastest growing market for Chic Shopping

Global Arab Network - - Hannan Taha

Sunday, 14 June 2009 22:59

The Collection of nine Chic Outlet Shopping Villages in Europe, created and managed by Value Retail, is significantly bucking the trend in the current economic climate.

Across the Collection, The Middle East, with an average spend of €312 remains the fastest growing market in sales (+ 169% on last year) for the Chic Outlet Shopping Villages.

China is the largest contributing market by volume (25% of all tax refund sales). By value per transaction, however, the leading market is Brazil, where the average transaction is €319. The US market closely follows with an average of €316 and shows an increase of 25% in tax refunded sales compared to the previous year.

Tax refunded sales generated by visiting South East Asians in the first quarter increased by 88% compared to the previous year, placing them in the same league as the Middle East, Russia and China.

The Collection, with over 850 boutiques across Europe, offers previous seasons' collections at prices reduced by up to 60% all year round and is host to internationally recognised, world-leading and niche European fashion brands.

Matthew Williamson, Smythson, Anya Hindmarch, Antik Batik, Simonetta, Jesus del Pozo, Temperley London and Agent Provocateur have chosen to have their only outlet store worldwide with the Collection. While Theory, Givenchy, Zadig & Voltaire and Lalique have their only European outlet at one of the Villages.

2009 is the year for smart shopping, travel solutions and for time and money well spent. The nine Chic Outlet Shopping Villages in Europe seem to be more relevant than ever to the discerning tourist customer who is keen not to trade down but to rather, shop smart.

The Villages, with Q1 tax refunded sales growth of 55% compared to the same period in 2008, have significantly outperformed their Global Refund affiliated benchmark cities. These benchmarks include London's West End, Paris, Madrid's Centro and B. Salamanca, C. Vieja and Paseo in Barcelona, Milan, Brussels, Munich and Frankfurt.

Building on an increase of 33% in total tax refund sales in the last quarter of 2008, Gulf Reps, the Travel Trade representatives in the Middle East for the Chic Outlet Shopping Villages in Europe, managed by Value Retail, are committed to driving high spending footfall to Europe. 'Value Retails' 43% overall increase of number of Tax Free Transactions is extraordinary given a general slowdown in the Tax Free Shopping business in Q1 2009.

'The outstanding sales results of Value Retails' Chic Outlet Shopping Villages in Europe with its attractive price levels, combined with the possibility to reclaim VAT, tells us that the combination of good pricing policies and high quality standard is a key success factor in these difficult times,' says Pier Francesco Nervini, Vice President International Key Accounts at Global Refund.

Exceptional value is always in style, especially where non-EU residents enjoy the convenience of tax free shopping with refunds of up to 15%. The Villages deliver five-star service with award-winning Tourist Information Centres, personal shoppers, and direct shuttle transport from the city.

They also offer a discreet, secure and exclusive environment where fashionable figures have all chosen to shop such as Stella McCartney, Jude Law, Elizabeth Hurley, Victoria and David Beckham, Yasmin Le Bon and Mick Jagger.

The nine Chic Outlet Shopping Villages in Europe are conveniently positioned and uniquely qualified to fill holiday time and allow visitors to stretch their budget further so they can shop in style and never feel they have to 'trade down' on luxury.

Global Arab Network

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Published comments are the opinions of private individuals and do not reflect the views of Global Arab Network