The O2 celebrates a successful year of trade across the destination

• Sales across outlet shopping, F&B and leisure at The O₂ were up 18% compared to 2019, with footfall also up 7%

• Stand-out new openings and brand signings in 2022 total over 54,000 sq ft, including Superdry, iFLY Indoor Skydiving, JD Wetherspoon and more

The O₂’s Entertainment District and shopping destination, Icon Outlet, which are owned and operated by Waterfront Limited Partnership, a joint venture between AEG and Crosstree Real Estate Partners, are looking ahead to a successful 2023, following a year of strong performance results and several, notable new brand signings and openings in 2022.

2022 performance highlights include a stand-out summer across the destination, with outlet shopping sales up 28% and Entertainment District trading up 56% from June to August compared to 2019, in addition to a record-breaking December for outlet shopping, with like-for-like sales up 17% compared to 2019.

Icon Outlet, London’s leading outlet shopping destination located at The O₂, reported a 16% increase in like-for-like sales in 2022 compared to 2019, a 12% rise on weekly average sales and an average spend increase per customer of 16%. In December alone, the outlet achieved sales growth of 13% compared to 2019 during the ‘Super Saturday’ weekend (17/18 December), and on Boxing Day (26 December) recorded its biggest day for sales since opening, with a like-for-like uplift of 11% versus 2019. A series of impressive results across 2022, notwithstanding multiple challenges faced last year; most notably the extensive damage to The O₂’s roof caused by Storm Eunice in February 2022 which resulted in the destination’s temporary closure.

The O₂’s Entertainment District also reported an impressive year, with footfall and sales continuing to deliver month-on-month growth. Solidifying the venue’s reputation as a year-round dining and leisure destination, sales increased by 33% compared to 2019. Like-for-like footfall also grew by 7% versus 2019, which was bolstered by over 200 events taking place in the arena, including internationally-acclaimed acts Billie Eilish, Queen + Adam Lambert and Blackpink. The O₂ was also proud to host the 2022 Laver Cup and Roger Federer’s last ever professional match, which saw a significant surge in both footfall and ATV across the destination, resulting in the highest ever combined sales results across outlet shopping, leisure and F&B at The O₂.

Janine Constantin-Russell, Managing Director of Icon Outlet and the Entertainment District at The O₂, commented: “We are extremely proud of the success enjoyed across The O₂ in 2022. Together, as a formidable team, with colossal coordination, collaboration and a can-do attitude, we not only overcame the obstacles thrown at us last year, but we emerged stronger and more agile, and this is reflected in our impressive 2022 results. From a record-breaking summer and some of our best ever trading moments across the destination, to welcoming a host of new brands that are household names, we have celebrated solid growth across outlet shopping, leisure and F&B at The O₂ and look forward to the year ahead to continue building on this success.”

2022’s strong performance was strengthened by impressive leasing activity across the destination. Delivering its strongest line-up of restaurants and leisure operators to date, the Entertainment District announced F&B debuts from Soukra and Trapdoor, and signed a London first with iFLY Indoor Skydiving, as well as an 8,000 sq ft space for JD Wetherspoon’s £3 million investment for its new pub, ‘The Stargazer’.

Icon Outlet also welcomed several high-profile new brands to its retail line-up including Superdry, Claire’s, Raging Bull and murmur, as well as a number of short-term activations for highstreet favourites such as Reiss, and even global K-pop superstars BTS, whose pop-up featured music-themed merchandise and a range of immersive experiences. Combined, the new signings and openings in 2022 across the destination at The O₂ totalled over 54,000 sq ft.

Louisa Dalgleish, Leasing Director of Icon Outlet at The O₂ added: “The new additions to our enticing tenant mix reinforces The O₂’s position as London’s leading day-come-night, all-encompassing destination where new and returning customers can shop, eat and play all under one iconic roof. From well-known brands like Superdry and Clarie’s, to global K-pop phenomenons like BTS bringing unique, interative experiences to the destination, we’re continuing to push boundaries in the industry and attract a broader range of customers than ever before. Looking ahead, we’re excited to see what 2023 brings, as The O₂ has it’s most compelling tenant line-up to date across outlet shopping, leisure and F&B, placing us in a strong position to deliver another high performing year.”

For 2023, The O₂ has an exciting year ahead with a strong arena diary including the monthly residency of Peter Kay and 10 nights of Elton John, as well as the debut London opening of iFLY Indoor Skydiving, and the celebration of Icon Outlet’s 5^th birthday.

KLM and CBRE are the retail leasing agents for Icon Outlet with Lunson Mitchenall leading on the food and beverage leasing.

Ends

About Icon Outlet at The O₂

Icon Outlet at The O₂, which is owned and operated by the Waterfront Limited Partnership, a joint venture between AEG Europe and Crosstree Real Estate Partners, provides premium outlet shopping with great value on household name brands.

Icon Outlet is home to over 60 designer brands with up to 70% off RRP including adidas, Calvin Klein, Levi’s, Nike, Superdry, Ted Baker, The Cosmetics Company Store and Tommy Hilfiger, all under the world-famous roof of The O₂.

Located just 15 minutes from central London and open seven days a week, the shopping outlet spans 210,000 sq ft across two spacious levels around the perimeter of The O₂ arena, and brings customers the latest in athleisure, tailoring, footwear, beauty products, accessories, homewares, gifts and clothing for all ages.

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About The O₂ 

The O₂ is the world’s most popular music, entertainment and leisure venue. Spanning over 800,000 sq ft, the iconic destination has been visited by over 100 million people since opening in 2007. Playing host to over 300 events a year, The O₂ is home to The O₂ arena, which was recognised as Billboard’s ‘Venue of the Decade’ for the 2020’s, and club-sized music venue indigo at The O₂.

A full day-out destination, The O₂ encompasses a number of interactive activities including roofwalk climbing experience, Up at The O₂; Icon Outlet, London’s leading premium outlet shopping destination with up to 70% off RRP on over 60 designer brands including adidas, Calvin Klein, Levi’s, Nike, Superdry, and Tommy Hilfiger; interactive football experience TOCA Social; ‘gaming battleground’ BOOM BATTLE BAR; London’s largest cinema with 19 screens, Cineworld; the 12-lane boutique Hollywood Bowl; Oxygen Freejumping trampoline park; immersive dining experience Mamma Mia! The Party; interactive photo experience Selfie Factory, and over 30 bars and restaurants within the destination’s entertainment district. The O₂’s offering is constantly evolving to reflect the consumer-led convergence of retail, leisure and entertainment.

Conveniently located just 15 minutes from central London, The O₂ is easily accessible via road, tube, bus or boat.

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