Simon® Announces Exciting Additions to Woodbury Common Premium Outlets®

Rhea-AI Summary

Simon® announces plans to enhance the shopping experience at Woodbury Common Premium Outlets® with a new VIP Suite and additional luxury stores. The outlet center will see the addition of 20 new stores in 2023 and plans for over 20 more in 2024, including renowned brands like David Yurman, Tory Burch, and Gucci. With Q4 2023 sales exceeding $375 million, Woodbury Common continues to be a top economic engine in New York State. A multi-million dollar expansion project is set to add 155,000 square feet of retail space, a luxury hotel, and improved amenities, creating over 3,000 new jobs and generating substantial economic benefits for the region.

Positive

• Woodbury Common Premium Outlets® will introduce a new VIP Suite to enhance the luxury shopping experience for discerning clientele.
• The outlet center will add 20 new stores in 2023 and plans for over 20 more in 2024, featuring iconic brands like David Yurman, Tory Burch, and Gucci.
• Q4 2023 sales at Woodbury Common exceeded $375 million, solidifying its position as a top economic engine in New York State.
• A multi-million dollar expansion project is underway to add 155,000 square feet of retail space, a luxury hotel, and improved amenities, creating over 3,000 new jobs and generating substantial economic benefits for the region.

Negative

• None.

World-renowned shopping destination adds premium amenity, new stores and shares update on future expansion plans 

INDIANAPOLIS, April 24, 2024 /PRNewswire/ -- Simon^®, a global leader in premier shopping, dining, entertainment and mixed-use destinations, today announced its plans to add customer experience enhancements and a new store line-up to Woodbury Common Premium Outlets^®. Woodbury Common is one of the world's most successful outlet centers and features the largest collection of luxury outlets in North America. Located in the heart of New York's bucolic Hudson Valley just one hour from Manhattan, the outlet center is a destination for local residents as well as domestic and international tourists, drawing over 10 million shoppers annually. 

Redefining luxury shopping at Woodbury Common, the first enhancement to be unveiled will be a stunning new VIP Suite, a haven designed exclusively for our discerning clientele. Across the globe, world-class shopping destinations and luxury retailers recognize the pivotal role VIP suites have in enhancing the luxury shopping experience. Woodbury Common's elegant enclave will feature multiple private spaces with their own dressing rooms, an upscale lounge area with plush furnishings and curated art, and a private kitchen. The opulent ambience will allow guests to explore the latest fashions from luxury brands in privacy and comfort. The VIP Suite will host private events, as well as offer personalized service and curated customer experiences. This multimillion-dollar suite is expected to open later this year in the heart of the center's luxury wing, The Adirondacks District. 

"Innovation and continually enhancing our idyllic shopping atmosphere, along with our collection of the most desirable brands, is what excites Woodbury Common's shoppers, and we look forward to enhancing our guest service experience with our luxurious VIP Suite," said Mark Silvestri, Simon's President of Development.

Woodbury Common Premium Outlets continues to attract investment from some of the world's most iconic brands, with 20 stores opening or expanding in 2023, and more than 20 are planned to debut in 2024. New offerings include David Yurman, Roberto Cavalli, Maison Margiela, Ladurée, BOGNER, Sferra, Bollicine Champagne Bar, Jil Sander, Eleventy, and Reformation among others. In addition, Arc'teryx, Tory Burch, Marc Jacobs and Golden Goose are all expanding their footprint at the center this year. 

These additions and expansions join 250 of the world's most sought-after fashion brands. The center's collection of 70 luxury brands includes Dior, Gucci, Prada, Saint Laurent, Bottega Veneta, Fendi, Loro Piana, Brunello Cucinelli, Loewe, Burberry, Alexander McQueen, Moncler, Balenciaga, Céline and many more. Brands continue to exceed expectations at Woodbury Common, with Q4 2023 sales surpassing $375 million. The iconic property generates over $1.2 billion in sales annually making it one of New York State's premier economic engines.

In Fall 2023, plans to expand Woodbury Common Premium Outlets were unveiled. This several hundred- million-dollar project will further elevate the shopping experience for customers and retailers by adding 155,000 square feet of retail stores and restaurants, a 200-key luxury hotel, a second parking facility, and upgraded customer amenities. Enhanced amenities will include a new children's play area, improved crosswalks and wayfinding, and generous landscaping. 

The project, which will add more than 3,000 jobs and open in phases, promises to further position Woodbury Common as New York's premier shopping and tourism destination and a vital economic anchor while building upon a record of success. Once construction is complete, the expansion of Woodbury Common will also generate substantial additional annual tax revenues and economic benefits while attracting increased tourism to the county and region.

"This visionary project will further energize Woodbury Common, the Hudson Valley and the entire NYC metro area as a world-class shopping and tourism destination that is so crucial to the region's economic success today and in the future," said Silvestri. The multi-year redevelopment of Woodbury Common is advancing through the permitting and entitlements process, and approvals are underway.

First news of Simon's proposal for Woodbury Common Premium Outlets' new amenities and expansion was widely praised by state and local leaders. "Woodbury Common is a vital community partner and a major driver of our economy. I appreciate that Simon continues to make significant investments at Woodbury Common, which create jobs, grow tourism visitation, and benefit the community," said Orange County Executive Steve Neuhaus.

About Simon
Simon^® is a real estate investment trust engaged in the ownership of premier shopping, dining, entertainment and mixed-use destinations and an S&P 100 company (Simon Property Group, NYSE: SPG). Our properties across North America, Europe and Asia provide community gathering places for millions of people every day and generate billions in annual sales

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SOURCE Simon

FAQ

What new amenity is Simon® adding to Woodbury Common Premium Outlets®?

Simon® is adding a new VIP Suite to enhance the luxury shopping experience at Woodbury Common Premium Outlets®.

How many new stores are set to open at Woodbury Common Premium Outlets® in 2024?

Over 20 new stores are planned to debut at Woodbury Common Premium Outlets® in 2024.

Which luxury brands are expanding their presence at Woodbury Common Premium Outlets® this year?

Brands like Arc'teryx, Tory Burch, Marc Jacobs, and Golden Goose are expanding their footprint at Woodbury Common Premium Outlets® this year.

What was the sales figure for Woodbury Common Premium Outlets® in Q4 2023?

Q4 2023 sales at Woodbury Common Premium Outlets® surpassed $375 million.

How many new jobs will the expansion project at Woodbury Common Premium Outlets® create?

The expansion project at Woodbury Common Premium Outlets® will create over 3,000 new jobs.