German commercial property group Mutschler is the latest investment partner to sign up for IKEA’s plans for a gigantic designer outlet at the Swedish company’s mega complex in Loulé.
The joint venture was announced in a press release from PR company Pure Ativism.
The Mutschler group is a partner of ROS Retail Outlet Shopping, the Austrian designer outlet operator set to manage the outlet.
“We know this is a unique project and are very happy to have strengthened our role in it. IKEA Centres is the perfect partner for us and ROS Retail Outlet Shopping. It is a win-win situation for everyone,” said Sylvie Mutschler, the group’s managing director.
Richard Vathaire, IKEA Centres’ managing director, also celebrated the news saying he was happy to benefit from the “experience and professionalism” of the two groups.
As the Resident reported in July (see story ‘IKEA Loulé welcomes gigantic fashion superstore’ at portugalresident.com), the designer outlet will boast 110 stores that will run “permanent discounts of up to 70%”.
The outlet is set to cover a 17,000sqm area and is billed to open in the summer of 2017 along with the IKEA complex’s shopping centre.
Meantime, the IKEA store is scheduled to open next year.