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McArthurGlen UK Ltd., announced it has begun to open the fourth phase at its successful Serravalle Outlet near Milan. This phase will total 6,500 sq m when completed next year.
J.W Kaempfer, Chairman of McArthurGlen said: "The high performance of our Serravalle Outlet centre throughout its first six years of operation led us to this further expansion as the next logical step toward maintaining freshness while delivering a broader and more exciting offering to the nearly three million customers who drive to our doorstep each year."
McArthurGlen continues to expand in Italy; the company's 14th Outlet, its third in Italy, will open at Barberino di Mugello near Florence in March.
A total of 30 new stores, of which 20 are now ready for occupancy, will be built in the expansion at Serravalle. Of these 20 stores, 65 per cent has been let to brands including Bruno Magli, Spalding & Bros. and Lacoste, which join existing brands such as Dolce & Gabbana, Etro, Roberto Cavalli, Bulgari and Prada.
"We are in final negotiations with some extremely high profile brands to take the remaining space in the new phase and look forward to announcing the names of those brands in the coming weeks," said Mr Kaempfer.
This expansion takes McArthurGlen Serravalle's total GLA to 37,300 sq metres, across 170 stores, and cements the centre's position as Europe's most prestigious outlet village.
McArthurGlen is Europe's leading designer outlet developer, owner and operator with 13 villages across the UK, France, Austria the Netherlands and Italy, featuring 650 top brands in over 1300 stores and 300,000 sq metres of gross lettable area, drawing over 50 million visitors each year.