- London Designer Outlet (LDO) achieved its strongest ever April, with sales increasing 16 percent YOY and 17 percent since pre-pandemic (2019)
- Q1 sales at the LDO amounted to £19.7m, representing a YOY increase of 17 percent and making it the best first quarter on record
- Sales in the quarter were boosted by a particularly strong two week Easter holiday, the first year this period has achieved over £5m in sales
- The average transaction value (ATV) over the same period was up 14 percent on pre-pandemic levels
- The results follow on from a trajectory of five consecutive record-breaking months for the outlet centre, which celebrates its 10 year anniversary this year
- The figures demonstrate the resilience and enduring success of outlets and is a reflection of how the urban outlet proposition has evolved over the last decade
London Designer Outlet (LDO), which celebrates 10 years of trading this year, has kicked off its decennial anniversary with extraordinary results – having recorded the best-ever month of April and Easter trading since it opened in 2013. This follows a striking trajectory in which the Wembley Park-based outlet centre has seen five consecutive months of record-breaking trading and the most prosperous Q1 on record.
Q1 trading at the capital’s leading premium fashion and lifestyle outlet destination reached over £19.7m – an increase of 17 percent compared to the same period in 2022 and 5 percent on pre-pandemic levels (2019). Sales were boosted by the strongest-ever Easter holiday on record, with sales in the period reaching over £5m for the first time.
In April, sales grew to £8.6m, representing a £1.2m increase on the year before and a substantial percentage increase of 16 percent compared to 2022 and 17 percent compared to pre-pandemic-levels.
The significantly strong trading is not only a demonstration of the continued appeal of outlets as consumers are faced with the ongoing cost-of-living crisis, with savvy deal-seekers looking for ways to get more for their money – but equally a reflection of the continued growing appeal of the LDO since opening in 2013. The LDO has seen a flurry of brands choosing to upsize and open new flagship concepts in the popular outlet centre, in tandem with Wembley Park continuing to evolve as a major mixed-use destination within London. The past decade has seen the LDO’s hyper local catchment at Wembley Park grow exponentially, with the total number of residents increasing from 1,700 in 2013 to more than 10,000 in 2023.
Over the last year, the LDO has seen a myriad of brands choosing to upsize and upgrade their offerings in the centre, bringing new flagship concepts from the likes of adidas, Nike, Calvin Klein and Tommy Hilfiger alongside the arrival of new premium brands such as The Cosmetic Company Outlet. This premiumisation of the offering is reflected in the higher average transaction value (ATV) the centre has been seeing in the last year. During Easter, the ATV was up 14 percent on pre-pandemic levels, whilst it was up 15.4 percent when looking at the first quarter of 2023 versus the same quarter in 2019.
Matt Slade, Retail Director at Quintain, said: “As we approach the LDO’s ten-year anniversary in October, it is encouraging to see that the latest trading results are the strongest we have ever achieved. A true demonstration of the resilience of the outlet model, as well as to the success of the work we have been doing in recent years, bringing bigger and better stores to the centre and introducing a host of new brands.”
In addition to the many new stores that have opened at the centre in recent years, many brands that opened in 2013 remain at the centre to this day, with 28 percent of the current stores having traded at the LDO for the full 10 years it has been open.
Daniel Tomkinson, General Manager of London Designer Outlet, added: “It is testament to the uniquity of the LDO that so many of our original brands still successfully trade at the centre a decade on. But, the LDO you see today is a completely different centre than the LDO of 10 years ago. Over the last decade, the outlet proposition has changed immensely – from factory-style outlets where brands were offloading overstocked and end of line goods to state-of-the-art shopping destinations where families visit not only for great deals, but for a day out experience that is much more akin to the experience customers might expect from full-price stores. This is a transformation that LDO has been at the forefront of in the UK. From being the first shopping centre to offer Dropit, to the plethora of brands that have chosen the LDO to open their first UK stores and concepts, LDO has continuously innovated to serve its guests needs. Looking at the strong results we have been achieving following the pandemic, and not least since December last year, it is clear that this transformation has resonated well with consumers who continue to visit and make bigger, better purchases with our brands.”
Managed by Realm – the UK’s specialist outlet operator – LDO offers 265,000 sq ft of retail and leisure space, including 70 outlet stores, restaurants and coffee shops.