Helping retailers flourish
intu’s portfolio of centres welcomed many new brands this year, with 248 new leases signed
Many of the new entrants are leading international brands such as Victoria’s Secret, Abercrombie & Fitch and H&M’s Monki, who are rolling out their brands across the UK, and choosing intu centres to optimise their chances of success.
They know they will flourish in our high-quality and well-managed centres, eight of which are in the UK’s top 20. With a million visitors every day, and footfall consistently above the national average, their stores will be in some of the busiest, most thriving retail spaces in the country.
They will be in good company: many of our retailers’ top-performing stores are at intu centres. They are the places retailers want to be and they are showing their confidence in the future with intu by investing for the long term. In 2018 retailers spent around £144 million of their own money on upgrading their flagship stores, among them River Island, which has doubled the size of its intu Lakeside store and is upsizing at intu Watford.
Retailers’ investment complements our own – this year we spent £201 million upgrading and extending our centres, including £67 million to complete the intu Watford extension, which Debenhams chose as the place to launch its innovative concept department store.
We work in partnership with our retailers – making sure they are in the right place and right size of store and giving them access to all the great services we provide: our experience and events programmes designed to engage customers and keep them coming back; our great digital offering including our online shopping centre which allows us to help with their omnichannel strategies; and our innovative approach to change.
In a fast-changing retail environment retailers want a landlord that is able to adapt swiftly. At intu we are ahead of the game, thinking three, five, 10 years ahead – our innovation lab intu Accelerate means we are constantly on the look-out for the latest ideas that will continue to keep our centres ahead and help our retailers flourish.
Inditex rolls out with intu
Inditex is one of the world’s largest fashion retailers, with a portfolio of brands that includes Zara, Zara Home, Stradivarius, Bershka and Pull&Bear. It is a globally successful company with a well-thought-out strategy for rolling out its brands across the UK, and intu is often its first port of call when choosing locations outside London. A fifth of its stores outside the capital are in intu centres, including eight of the 50 Zaras and half the Stradivarius branches. Our three Spanish centres all have stores of all nine Inditex brands.
The retailer’s confidence in intu is demonstrated by its investment in its stores in our centres, doubling the size of its Zara store at intu Trafford Centre, and tripling the Zara space at intu Lakeside.
Where to next?
Our annual results 2018
See how our business performed in 2018
Read our insights
Find out more about how we create lasting prosperity for the communities where our centres are located, for our business and for all our stakeholders
Find out more about corporate responsibility at intu
With shopping centres in both the UK and Spain, across some of the very best locations, we deliver 400 million shopper visits a year. Find out more about our business
Find out more about our business
See how we're investing in our assets to create the stylish and sought-after shopping destinations retailers and customers want
Read about our development pipeline