Member Article

The O2 applauds strong October performance with record-breaking half-term results, and Calvin Klein store upsize

The Entertainment District and Outlet Shopping at The O2, which are owned and operated by Waterfront Limited Partnership, a joint venture between AEG and Crosstree Real Estate Partners, have witnessed a solid trading period throughout October, solidified by a stellar half-term week. It also coincides with the opening of Calvin Klein’s brand new, larger store, which has increased its footprint by a significant 87% at the destination, further reinforcing The O2’s position as the world’s most popular live entertainment, leisure, and retail destination.

Outlet Shopping at The O2 has witnessed a 19% uplift in sales when compared to October last year, and a 51% uplift year-to-date vs 2022, strengthened by the recent additions of Carvela, French Connection, and newly upsized stores for Tommy Hilfiger, Lids, and Calvin Klein, which has opened its new 6,576 sq ft store on the outlet’s upper level. It continues to showcase its extensive collections for men and women and has also diversified and expanded its offering to include a dedicated childrenswear section, catering to large customer demand and high footfall experienced at The O2.

Similarly, the Entertainment District at The O2 has reported a sales increase of 47% vs October 2022, and a 39% increase year-to-date vs 2022, coinciding with the recent openings of Afrikana and Chipotle, adding to over 30 bars and restaurants present at the destination. Total footfall across the whole scheme has also welcomed an impressive 22% uplift vs October 2022, with year-to-date sales also up a stellar 43%, further demonstrating the continuing appeal of The O2’s premium tenant mix in attracting local and international visitors alike.

During half term week specifically (21-29 October), there was a 31% uplift in sales across the whole scheme when compared to the same period last year, with the Entertainment District leading the way by welcoming an increase of 40%, and Outlet Shopping at The O2 an increase of 19%. The Entertainment District also experienced a record-breaking Saturday (28 October), boasting the highest-ever sales figures in its history, which coincided with a double show-day in the arena for noughties chart-toppers, S Club.

Janine Constantin-Russell, Managing Director at Outlet Shopping at The O2 and The Entertainment District, said: “Once again The O2 has demonstrated its position as a leading retail, leisure and entertainment destination. Our unrivalled 360-degree offering, encompassing a quality tenant mix and matchless visitor experience, is mirrored in the destination’s strong performance and we’re delighted to have surpassed last year’s results across sales and footfall.”

“In the past few months, we’ve witnessed several upsizes with brands reaffirming their commitment to our destination, most recently demonstrated by Calvin Klein; we’ve seen leisure operators announce their upcoming arrival to The O2; and we’ve driven our brand alignment strategy forward, reinforcing outlet shopping within the wider destination. We are a destination that never stands still, and these results highlight the efforts that we, our retailers, and operators, have collectively put in to create a compelling and unequalled offer. Excitingly, we are on track to experience one of our most successful years to date, and are looking forward to an even bigger and better 2024.”

2023’s strong October performance was strengthened by an exciting line-up in the arena, including the four nights with Madonna, the return of S Club, as well as Blink-182. Upcoming performances in 2023 include 50 Cent, Tom Jones, Pete Tong and Peter Kay.

This was posted in Bdaily's Members' News section by Nick Thornton .