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Simon Property and Paragon Outlet in joint venture to open outlet center
INDIANAPOLIS -- Simon Property Group and Paragon Outlet Partners, Baltimore, have signed a letter of intent to jointly develop Charlotte Premium Outlets, in Stallings, N.C.
Projected to open in 2014, the outlet center will be 400,000 sq. ft. and will house approximately 100 designer and name brand stores.
The project, which is expected to break ground during spring 2013, is a 50/50 joint venture between Simon Property Group and Paragon Outlet Partners.
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Flash sales feeding full price demand
A funny thing happened on the way to the department store: luxury goods became accessible to consumers online and at increasingly deeply discounted prices. Thanks to a spate of discount websites offering “flash sales” or exclusive, limited-time offerings, the flash sale phenomenon has revolutionized the way consumers shop, offering an entry into the luxury market at a fraction of the price.