<div class="ExternalClass1DFE3DDD8962464A9C537D87284B40B2"><p>​Double digit growth reported for 2014</p><p>19%: <span class="Apple-tab-span" style="white-space:pre;"> </span>Actual sales growth year-on-year (January to December 2013 versus January to December 2014)</p><div>R24-mill:<span class="Apple-tab-span" style="white-space:pre;"> </span>        Visitor numbers during 2014</div><div>New tenants:<span class="Apple-tab-span" style="white-space:pre;"> </span>H&M and Hamleys</div><div><br></div><div>The V&A Waterfront remains resolutely set on its course of achieving double-digit retail growth for the fourth consecutive year, with 2014 retail results reflecting actual year-on-year growth of 19%, marginally down on 2013’s 20%, with visitor numbers for the year hitting a high of 24-million.</div><div><br></div><div>Speaking about the V&A Waterfront’s consistent performance, CEO David Green said, “Our strong performance is the result of our strategy to ensure the V&A Waterfront is fresh and relevant for locals and internationals alike. Over the past two years we have focused on re-developing existing areas, spending R135-million which included the redevelopment of the Food court, increasing the Pick n Pay store’s footprint, and creating the Watershed, Africa’s new home for craft and design.</div><div><br></div><div>“Our visitor numbers show that we have proportionally more Capetonian visitors than ever before, with the reason they give for returning being the V&A Waterfront’s diverse and enhanced food, retail and entertainment offering. Domestic and international tourism also remains robust, with statistics showing that almost all foreign visitors to Cape Town visit the V&A Waterfront at least once.”</div><div><br></div><div>The V&A Waterfront’s retail executive Alex Kabalin elaborates, “There has been a clear focus on broadening our appeal as a shopping destination. A strong differentiator for us is being able to cater to the typically discerning customer as well as the more value-conscious one. And research undertaken recently has shown that our focus on families and affordability is starting to pay off.</div><div><br></div><div>“We also constantly review and refresh our tenant mix, paying careful attention to brand adjacencies to ensure like-minded retailers are clustered together for convenience shopping and appeal to core target markets. As well as looking at bringing in new offerings, many of our existing retailers and eateries have also focused on world-class refurbishments and improvements.”</div><div><br></div><div>“This continuous review of the offering has enabled the V&A Waterfront to maintain its position in a highly competitive retail market. And it has helped to attract a quality mix of retailers and food and beverage tenants, which in turn has attracted more visitors. During 2014 the Victoria Wharf Shopping Centre balanced the introduction of affordable retail brands such as Cotton On and Mr Price’s new-look MRP store with luxury international brands such as Longchamp and the first Calvin Klein store in South Africa. “</div><div><br></div><div>A highlight of 2014 has been the amalgamation of the Red Shed Workshop and Blue Shed (the old Craft Market and Wellness Centre) into the new Watershed. Opening in October 2014, the light and airy new space is proving to be popular with visitors.</div><div><br></div><div>According to Kabalin, “The purpose of the Watershed is twofold. It is a small business incubator on the one hand, and on the other it is a retail outlet with a product offering and range focusing on artisans and designers, presenting the very best of the continent under one roof.  The retail mix includes art works, precision-made furniture, hand-crafted jewellery, textiles, furnishing, ceramics, accessories, contemporary curios and more.”</div><div><br></div><div>The new Wellness hub, which opened in November, is located on the mezzanine level of the Watershed, offering a variety of affordably priced revitalising products and walk-in therapies.</div><div><br></div><div>Looking ahead, the V&A Waterfront has announced the redevelopment of the Kings Warehouse in the Victoria Wharf Shopping Centre, which is expected to be complete by late 2015. </div><div>The redeveloped Kings Warehouse will house a new multi-level 4,500m2 H&M store. The world’s number one clothing retailer, based in Sweden, announced at the end of August 2014 that it would be opening its first South African store in 2015.</div><div><br></div><div>In addition to H&M, British toy store Hamleys has also announced its intention to open the first South African store in the V&A Waterfront, taking up approximately 1,000m2 of the available space in Kings Warehouse.  </div><div>All the existing tenants currently housed in the Kings Warehouse will remain at the V&A Waterfront. </div><div><br></div></div>2015-01-25T22:00:00Z



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