Outlets centres gain European traction

With similarities to the U.S.A., outlet centres attract both customers and investors, as they increasingly become “fashion destinations” as opposed to regular “outlets” offering wholesale factory discounts. In early 2016, the U.S. private-equity fund Ares Management (US$92 billion of assets under management) purchased two French outlet centres for €200 million, in Troyes and Roubaix. Such attraction for European “outlets” has several causes. With many countries and languages, this sector is...