ICON Outlet to add shopping to The O2 experience
AEG and Crosstree Real Estate Partners have revealed their vision for ICON Outlet, a 210,000sqft premium urban outlet that will open this October under the famous tented roof of The O2, bringing shopping to the world’s number one entertainment venue for the first time.
Together with the construction of a 50,000sqft cinema extension for Cineworld and a 30,000sqft trampoline park, leased to Oxygen Freejumping, the UK’s leading operator, The O2’s offer is being evolved to reflect the consumer-led convergence of retail, leisure and entertainment. In total, over 75% of the space under development is let or under offer.
Consisting of 85 stores and 35,000sqft of new restaurants, cafés and bars, ICON Outlet will provide the best of accessible premium fashion and lifestyle brands. Leading UK and international retailers, such as Hackett, Ted Baker, Guess, Gant, Calvin Klein, Crew Clothing, Jack Wills, Kurt Geiger, Aspinal of London, Levi’s, Pepe Jeans, Clarks and Skechers, are among the brands to have signed already.
Whilst common in continental Europe and the US, urban outlets are a relatively new concept in the UK, as outlets tend to be located outside of major city centres. They combine the choice, convenience and value of online with the inspiration and engagement of the very best of physical retail. Their breadth of offer is also easily accessible to large numbers of consumers through excellent transport links, which will resonate with all visitors, including London’s Millennials and Generation Z consumers, who typically do not have their own means of transport.
ICON Outlet is just 15-minutes from central London and, served by the Jubilee Line, Crossrail (at Canary Wharf), MBNA Thames Clippers and The Emirates Airline, it will be easy to reach for the majority of the capital’s ten million population, as well as the 31 million domestic and foreign visitors to London every year.
In addition, ICON Outlet will appeal to the existing nine million visitors The O2 attracts to its 200 annual arena events, cinema, restaurants, bars and venues each year. 75% of The O2’s current visitors are from outside the catchment, and 50% are from CACI’s Affluent Achievers or Rising Prosperity Acorn groups, the UK’s highest spending consumers.
In addition to the retail and leisure offer, ICON Outlet will bring new retail experiences to The O2. A range of exclusive services will also be provided, such as personal shoppers and stylists, concierge luggage drop and hands-free shopping, a deluxe tax back lounge, and unique event shopping packages.
ICON Outlet will also be the first Major Retail Development ever in the UK to have achieved a BREEAM Outstanding rating.
Commenting on the announcement, Alistair Wood, Executive Vice President for Real Estate and Development for AEG, said:
ICON Outlet is the most relevant retail and leisure destination set to open in Europe this year. Our understanding of consumers has informed every aspect of the development: from which brands have been selected, to how the experience responds to the unique setting under The O2’s world famous roof. ICON Outlet brings an exciting new element to The O2’s offer, further increasing its appeal as a destination providing unique experiences.
Marion Dillon, Leasing Director for ICON Outlet, added:
ICON Outlet at The O2 is long overdue in London. The capital has some of the youngest, most discerning consumers of any city in the world. These are people that often think online first when it comes to retail, and spend what would have been their shopping and leisure time seeking new experiences. ICON Outlet will be a destination that caters for both needs, bringing together choice, value and inspiration in a location that is not only one of the easiest to reach in London, but has a reputation for providing the very best of experiences for tourists, existing visitors to The O2, and a new generation of consumers. With ICON Outlet, The O2 evolves to become where retail and entertainment converge.
CBRE and CWM are the retail leasing agents for ICON Outlet.
About The O2
The O2 is the world’s most popular music and entertainment venue. Since opening in 2007, it has been visited by more than 70 million people and picked up awards including: Venue of the Year at the Music Week Awards, Venue of the Year at the Event Awards, Venue of the Year at the AEO Awards, Pollstar International Arena of the Year (for the tenth time), Venue Team of the Year at the Event Awards, Best New Major Concert Venue, Venue of the Year at The Event Services Association and Favourite Venue at the TPI Awards.
In addition to the arena, The O2 is also home to indigo at The O2, a live performance space; an 11-screen Cineworld complex; Up at The O2 – an experience that allows visitors to walk across the roof of The O2; the 12-lane boutique Hollywood Bowl; and The Avenue, which features 26 bars and restaurants.
Headquartered in Los Angeles, California, AEG is the world’s leading sports and live entertainment company. With offices on five continents, AEG operates in the following business segments: AEG Facilities, which is affiliated with or owns, manages or consults with more than 120 preeminent arenas, stadiums, theatres, clubs and convention centres around the world, including The O2 Arena, the Sprint Center and the Mercedes-Benz Arenas; AEG Presents, which is dedicated to all aspects of live contemporary music performances, including producing and promoting global and regional concert tours, music and special events and world-renowned festivals; AEG Real Estate, which develops world-class venues, as well as major sports and entertainment districts like STAPLES Center and L.A. LIVE; AEG Sports, which is the world’s largest operator of sports franchises and high-profile sporting events; and AEG Global Partnerships, which oversees worldwide sales and servicing of sponsorships including naming rights, premium seating and other strategic partnerships.
Through its worldwide network of venues, portfolio of powerful sports and music brands and its integrated entertainment districts, AEG entertains more than 100 million guests annually. More information about AEG can be found at www.aegworldwide.com.
Crosstree Real Estate Partners is a private real estate investment firm with a focus on the UK market. Founded in 2011 and based in London, Crosstree manages more than £1 billion of assets across the office, retail, hotel and residential sectors.
Steve Sayer, Commercial Director, The O2 – London, Matt Botten, Senior Director, Premium Seating, The O2 – London, Rich Krezwick, SVP Facilities, AEG Europe, and Michele Kajiwara, SVP, Premium Sales & Service, STAPLES Center, are just some of the 40-plus industry expert speakers that are confirmed to take part in Europe’s first Premium Seat event, ALSD International, coming to London this October, 10-12. Make sure to secure your place TODAY, as places are now limited!
ALSD International is being delivered by the ALSD (Association of Luxury Suite Directors) in cooperation with the EAA (European Arenas Association), with Presenting/Founding Sponsors AVIXA, Elevate Sports Ventures, Levy Restaurants, Soccerex and The Parker Company, and sponsors 1HUDDLE, IHS Global Alliance, Fund Raisers Sports, LiveStyled, Spring and Wavework.
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