Construction has begun and competition is well under way between Taubman Prestige Outlets and St. Louis Premium Outlets in the Valley.
The Taubman project will house approximately 100 stores, including Banana Republic Factory Store, J-crew Factory and Gap Outlet. The mall moved its grand opening from August 2, 2013 to September.
St. Louis Premium Outlets announced an Ann Taylor, Saks Fifth Avenue and Loft Outlet, and recently signed a number of new stores, including Charlotte Russe, Sperry and Vera Bradley. It is set to open September 26, 2013.
Nico Schultz, Taubman director of development, said the Taubman Outlet will provide a high fashion shopping options to the area.
“Outlet Centers draw from a wide area so we are looking to attract the greater St. Louis market,” Schultz said. “We expect to attract customers from within the market as well as tourists visiting the market.”
Schultz said its time advantage in construction and an earlier opening date before the Missouri Tax Free weekend in August will give it an advantage over St. Louis Premium Outlets.
“There will most likely be an initial reduction of sales productivity at the two properties as people will shop both,” Schultz said. “But we love our location and feel that the shoppers will agree.”
Dean Wolfe, CEO of Wolfe Properties LLC and in charge of St. Louis Premium Outlets, said the tenants, not the opening date, will determine the mall’s success.
“The real issue is whether there are enough tenants for two centers, and I don’t think that there are,” Wolfe said.
St. Louis Premium Outlets is currently 75 percent leased. The finished product will offer everyday discounts and part time jobs to students as well as easy access and exposure to stores, Wolfe said.
“I think the pricing will be the biggest attraction to shoppers,” Wolfe said. “There will be everyday prices that are 30 to 70 percent less than a traditional retail location.”
Chesterfield Mayor Bruce Geiger said Simon Property Group and Taubman have a history of competition for locations around the world and that one company usually backs out of the process before two malls are built.
“I believe that one outlet mall would be very beneficial for the region,” Mayor Geiger said. “I would rather not see two premium outlet malls built.”
Aimee Nassif, Chesterfield planning and development services director, said the opening of both of the malls will likely come down to the tenants that each can secure.
“I think everyone’s anxious and waiting to see what’s going to happen,” Nassif said, “and quite frankly we are too. I kind of wouldn’t have expected both of them to be moving along with construction, but they both are, so we’re watching like everyone else is.”
