Scott Malkin, the founder and chairman of Value Retail, has built his career on thinking differently.
Thirty years ago, at a time when designer outlets were out-of-town strip malls without much personality, he dared to be different.
He built Bicester Village in Oxfordshire, England, as a luxury off-price shopping mall with an accent on hospitality and experiences and, in doing so, has redefined outlet shopping. Customers are referred to as “guests,” there are personal shopping services, buzzy restaurants and grand, hotel-like suites for special events or for VIP customers to shop privately.
Bicester soon became the template for a network of high-end fashion outlets that now stretches from Europe to China to New York. Today, some of the brands in those villages have begun selling in-season merchandise and driving business to their full-price stores in city centers.
In the beginning, there were many who argued that Malkin was just chasing rainbows, but he’s proven them wrong.
Today, with brands including Dior, Fendi, Armani, Manolo Blahnik and Prada, Bicester has become one of the most popular destinations for international tourists in England. It even has its own train station, which is less than an hour’s ride from central London. The sister villages in Europe and China have had similar success.
“Going back in history, the notion of great, personalized and, in some ways, customized experiences are always what made the spectacle of retail, the energy of the experience, relevant,” Malkin told WWD in 2018.
In October 2024, Malkin gambled once again and opened Belmont Park Village on Long Island. Only part of the village is open, and the brands on board include Thom Browne, Rene Caovilla, Aquazzura, Orlebar Brown and Vivienne Westwood.
Malkin has compared his vision for Belmont to what Steve Rubell and Ian Schrager did at Studio 54.
Success, Malkin said, “requires hardware, software and an embrace of guest-facing hospitality. But, most importantly, it requires a commitment to curation and to the same dedicated focus that Rubell and Schrager defined at Studio 54. That doesn’t happen by chance. It requires a passion for delivering special moments, great experiences and memorable achievements,” he said. — Hikmat Mohammed
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