The largest ‘outlet village’ in the Baltics will be opened for buyers in Pinki next week

Next week, on August 14, the fashion brand “outlet” village “Via Jurmala Outlet Village” will open its doors in Pinki, Babīte Parish. This will be the first “outlet” village in the Baltics, the project developer “Outletico” previously informed.

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Delfi has already reported that by investing more than 25 million euros, the large-scale construction of the first phase of the Via Jurmala Outlet Village was completed at the end of 2019.

The village will be opened at 12 noon with the ceremonial ribbon cutting and the opening of the event, which will be attended by Andrejs Dozorcevs, developer of the Via Jurmala Outlet Village project and member of the board of Outletico, and Aivars Osītis, chairman of Babīte municipality council.

The developers promise that “Via Jurmala Outlet Village” will be able to buy the products of the previous season and a collection specially designed for the “outlet” concept at 30 to 70% lower prices throughout the year.

“Unlike other fashion capitals in the world, Riga does not have a distinct district or shopping street where several fashion brand stores are concentrated,” says Dozorcevs. He points out that the “outlet” village is located just outside the city, on the highway connecting Riga and Jurmala, along which about 13 million cars move within a year. Importantly, an economically viable construction project and lower prices for suburban land have helped reduce the overall cost of the project, thus allowing tenants to offer favorable lease terms.

Although sales in traditional shopping centers are stagnating, they are growing in outlet-type centers. Since 2013, the growth rate in outlet stores has been ten times higher than in traditional retail, and this is close to the performance achieved by online sales, the project promoters emphasize. It is estimated that on average one buyer visits outlet type stores 4-6 times a year. After the opening of the first round, the number of visits to the ‘outlet village’ during the year could reach 2.5 million, while the turnover – 40 million euros.

It is already known that Via Jurmala Outlet Village will be able to buy branded products such as “Hugo Boss”, “Ermenegildo Zegna”, “Guess”, “Puma”, “Tommy Hilfiger”, “Ecco”, “Stefanel”, ” Levi’s, Camel Active, Lee Wrangler, Billionaire, Brunello Cucinelli, Pako Lorente and others. Among almost 100 brands, fashion goods for active lifestyle supporters will be available, as well as “Premium” class, as well as brands that have not been used in Latvia before.

“The situation in the world regarding the spread of the coronavirus has managed to bring about significant changes in almost all spheres of life,” Dozortsev points out. He says that, given the situation that mass events in the country are banned, it is not possible to hold a big opening ceremony as planned.

The project implementer is SIA “Outletico”.

Outletico was registered in March 2016. The owners of the company are Rietumu banka co-owner SIA Esterkin Family Investments (64.5%), Andrejs Dozorcevs (28.75%), SIA Lehmann Investment Corporation (2%), SIA Freims (2%), Yulia Mikhailenko (1.25%) and three other participants.

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