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Issue: 1198 Date: 8/8/2013
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First Of Two New Chesterfield Outlet Malls Opens For Business |
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| Crowds await the official opening of the Taubman Prestige Outlets in the Chesterfield Valley. (Rachel Lippmann/St. Louis Public Radio) |
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The grand opening of one of the two new outlet malls in Chesterfield was held on Friday August 2, 2013.
About 2,000 people were in line when the gates to the Taubman Prestige Outlet Mall opened at 9:15 a.m. - about three weeks ahead of its rival, St. Louis Prestige Outlets. The first 1,000 people inside were given a $25 gift card.
Mall officials said the parking lot was full at 10 a.m. and about 10,000 people had come through the center by 1 p.m.
Friday's opening was scheduled in congruence with Missouri's three-day sales tax holiday this weekend.
"That's part of the reason why we decided to actually open on tax free weekend because we have so many retailers that would be participating in it," said one mall official.
The list of stores at the new outlet in the Chesterfield Valley includes a Lucky Brand store, Abercrombie and Fitch and Banana Republic, among many others.
It's the first St. Louis venture for Michigan-based Taubman Properties, and while the mall is introducing a number of new retailers to the area, there are some duplicates with Prestige.
Still, chief operating officer Bill Taubman says his company has the edge.
"I think it's helpful to get the customer acclimated, but remember, we sit at Boone's Crossing," Taubman said. "Eighty-five percent of the customers have to drive right past us and see a half-mile of frontage. So while the jump is helpful, critically, long-term, it's about location."
The 310,000 square-foot mall is about 80 percent leased.
Both Taubman and Prestige are less than four miles from Chesterfield Mall. But the city's mayor, Bob Nations, says he remains optimistic that all three can survive.
"We've talked with some of the retail operators, and they've indicated they do anticipate a downturn for the short term," he said. "However, some have indicated they actually anticipate an upturn in their volume."
Nations says the new outlet malls could boost tax revenue for the city by 5 percent.
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