LEADER IN THE OUTLET SECTOR IN ITALY IN 2024

With the acquisition of two new management mandates in 2024 for Brugnato 5 Terre Outlet Village (January) and Barberino Outlet (June), Promos has become the leader in the Outlet sector in Italy, achieving a market share of 25% with 6 Outlets under management, covering over 160,000 sqm of GLA and hosting more than 800 stores.

This year also saw the opening of a premium plaza with 6,000 sqm of GLA at Valmontone Outlet (RM). This space offers business opportunities to 20 premium stores, strategically located in a contemporary area at the heart of the Outlet.

In a few days, the Città Sant’Angelo Outlet Village (PE) will undergo a rebranding to become “Santangelo Outlet Village” and will unveil its new expansion: +5,000 sqm of GLA and the opening of 20 new stores.

In the next three years, Promos will be involved in ambitious expansion and reconversion projects, with a total investment of €35 million. This will increase the portfolio by +15% in total GLA and result in a 10% rise in the number of new stores.

Additionally, three new Food Courts will be established, hosting a total of 30 bars and restaurants.

By 2026, a new premium plaza will also be created at Brennero Outlet (BZ), offering an exclusive shopping experience. This 2,400 sqm GLA space will host 10 high-end brands. Construction has already begun for a new and modern food court at the same center near the Austrian border, which will cover 1,400 sqm of GLA and include 6 restaurants by the end of next year.

An ambitious project is also planned between 2025 and 2026 at Mondovicino Outlet (CN), where the first food court in a Piedmont outlet will be built. It will span 1,700 sqm of GLA and feature 7 new restaurants, all with outdoor areas. The brand mix will include both international chains and local establishments, designed to cater to different customer types and suit various times of the day.

Finally, at Barberino Outlet (FI), Promos has launched a significant multi-year development plan involving over 7,000 sqm of GLA across three key areas: 3,000 sqm of expansions to strengthen and diversify the fashion offering, and the creation of a Food Court and an Event Area, both spanning 2,000 sqm.

“Our journey shows no signs of slowing down,” states Filippo Maffioli, CEO of Promos. “Over the next three years, the company will invest more than €35 million in new development projects, increasing the managed GLA to over 190,000 sqm and the number of stores to more than 900, 12% of which will be in the food sector. This fast-growing segment confirms the foresight of our vision back in 2015 when we opened the first food court in an outlet at Valmontone. Today, less than 10 years later, we are working to ensure that all our centers have a food plaza, serving as a new attraction and a key point of reference for an increasingly demanding clientele seeking leisure and not just shopping destinations in outlets.”