<div class="ExternalClass2C950F25C1DD457FB436992CA4AA20D4"><div>Cape Town, 21 August 2013: The V&A Waterfront has reported an outstanding 19.2% year-on-year growth in retail sales figures for the second quarter of 2013. The figures show an increase of more than twice that of South Africa’s year-on-year sales growth of 7.6%, as reported by Stats SA. Quarterly visitor numbers are also up 9.78% and have increased 16.3% over June last year. </div><div> </div><div>David Green, CEO of the V&A Waterfront said: “We believe that these sales indicators are a direct result of the significant work we have done to refresh the retail experience at both the Victoria Wharf and Alfred Mall over the past two years.” He adds that this strategy is in place to ensure retail growth while enhancing the consumer experience across the precinct: ‘’Development work is necessary to improve the retail experience, and to increase the gross lettable area (GLA) that allows us to introduce new brands that will satisfy consumer demand. Our shareholders, Growthpoint Properties Limited and the Government Employees Pension Fund (GEPF), represented by the Public Investment Corporation Limited (PIC), are committed to this strategy and have made the necessary funds available for the extensive development work.’’</div><div> </div><div>Construction on the new mall that will link the two main malls of the Victoria Wharf is nearing completion. Confirmed for this new mall are standalone stores for Mimco, a first for South Africa, and Witchery, while Lucky Brand Jeans and Tom Taylor will be shop-in-shops for the Edgars new fashion entrance as part of their upgrade. Lucky Brand and Tom Taylor will open in December. This extension will see a total 1516m2 of GLA for exciting new brands but will also improve flow and see the creation of a new shopping loop.</div><div> </div><div>Alex Kabalin, Retail Executive, V&A Waterfront commented: ‘’With a retail vacancy of less than 0.1% we have had to carefully balance the current refurbishments and relocations whilst minimising the impact on our visitors’ experience on site. That said, we believe the V&A Waterfront visitor has much to look forward to with the new brands we are welcoming in the upcoming months.’’</div><div> </div><div>In October, Scandinavian brand, Tiger of Sweden, will follow the highly successful opening of Top Shop and SuperDry. The brand is known for its minute attention to detail and will add yet more international fashion icon appeal with its part rock-n-roll, part consummate tailored fashion statement pieces. The label is often worn by UK Indie-rockers, The Kaizer Chiefs and Swedish musos, The Hives.</div><div> </div><div>UK brand Mamas and Papas opened their first boutique baby shop in Huddersfield, West Yorkshire. It now boasts more than 50 locations worldwide, and will open its first Western Cape store in its 474m2 Breakwater location in August, next door to the new 690 m2 @Home Living Space.</div><div> </div><div>Pick n Pay’s newest and most exciting store will open on the 28 November 2013, just in time for this year’s festive season. A culmination of innovative design and dedicated research into the world’s best lifestyle and food trends, the store will offer a wide choice of superb ranges – look out for an incredible variety of cheeses, meats and wines, along with the freshest baked goods and produce. Convenience too was significant a design factor – customers will be able to park right outside the store and will get to park free of charge for the first 90 minutes. Pop in for a delicious cup of coffee, order the perfect cut of meat for that dinner party or do your monthly shop – or do all three at Pick n Pay’s world-class new store.</div><div> </div><div>Popular Australian store, Cotton On, is set to open a new flagship store in March 2014 with previously unseen Cotton On sub-brands launching here for the first time. It will be joined by the highly successful South African brand, Mr Price in the 2285 m2 space vacated by Pick n Pay when it moves into its newly developed flagship store on the lower ground floor. Development for this 6000 m2, new generation Pick n Pay store will conclude when the national retailer opens its new doors in December.</div><div> </div><div>“Our food and beverage tenants are an integral part of our retail strategy, contributing over 20% to our total retail sales.  We have placed great emphasis on this category over the past year,” Kabalin continues. </div><div> </div><div>Kabalin says: ‘’We focus on understanding what our loyal customer base is seeking and responding to their needs. We are delighted to announce that Tasha’s will open its second Western Cape location at the Waterfront.’’</div><div> </div><div>Tasha’s is an authentic boutique style cafe catering to the urban lifestyle and will cover 385m2 of interior and 200m2 of external floor space at the existing Mugg & Bean site, while Mugg & Bean will relocate to opposite Balducci, alongside Exclusive Books, giving them exceptional  harbour views. The much anticipated Tour Brasserie will add a sophisticated European flavour to the current mix of food and beverage tenants. The concept of Patrick Symington in partnership with renowned chef Pete Templehoff, the brasserie will occupy 450m2 of internal and 200m2 of external floor space in its location at Alfred Mall, on the Pierhead overlooking the yacht marina.</div><div> </div><div>Bukhara and Haiku, both firm favourites with Capetonians, opened in May while il Panninaro has revamped and opened as Café Alfredo in the Alfred Mall in May. It offers classic authentic Italian Euro-style cuisine using many ingredients imported directly from Italy; it is set to be another firm favourite.</div><div> </div><div>“Ensuring we have the right number and type of retailers and carefully planned store adjacencies has given us the proper concentration and the right mix of retailers for our discerning clientele,” concludes Green.<br></div></div><img alt="" src="/sites/waterfrontcontent/News%20Images/tiger-of-sweden-logo.jpg?RenditionID=8" style="BORDER:0px solid;" />2013-08-20T22:00:00Z

 

 

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