INDIANAPOLIS, May 18, 2023
/PRNewswire/ -- Simon® and Five Below are
expanding their relationship by adding more locations at Simon's
industry leading portfolio, including Premium
Outlets®. Five Below will bring an array of items
for tweens, teens, and beyond, into at least seven different
Premium Outlets.
The new stores will open beginning this spring and summer 2023
at Albertville Premium Outlets, Pleasant Prairie Premium Outlets,
Johnson Creek Premium Outlets, Gaffney Outlet Marketplace, Indiana
Premium Outlets, Pismo Beach Premium Outlets and Pocono Premium
Outlets.
In addition, Five Below is also opening at Great Mall, a Mills
property, in Milpitas, CA, and at
Miller Hill Mall in Duluth, MN
this year as well as undergoing a full remodel at Arundel Mills in Hanover, MD.
"Expansion to 3,500-plus stores is a key strategic pillar of our
vision for growth, and our relationship with Simon is core to
continuing our national expansion efforts. We look forward to our
partnership with Simon and serving new communities and customers
with our fun and value-based experience with the opening of each
new store this spring and summer," said George Hill, Chief Retail Officer of Five
Below.
"The expansion of our relationship with Five Below comes as a
result of the success of the 21 stores that are currently in our
Malls and Mills properties and is a natural extension of our
commitment to growth," said Paul
Ajdaharian, Senior Vice President of Leasing at
Simon.
Today, Simon operates or has an ownership interest in more than
250 premier retail destinations around the world and Five Below
operates 21 stores within the Simon portfolio.
About
Simon:
Simon® is
a real estate investment trust engaged in the ownership of premier
shopping, dining, entertainment and mixed- use destinations and an
S&P 100 company (Simon Property Group, NYSE: SPG).
Our properties across North
America, Europe and Asia provide community
gathering places for millions of people every day and generate
billions in annual sales.
About Five Below
Five Below
is a leading high-growth value retailer offering trend-right,
high-quality products loved by tweens, teens and beyond. We believe
life is better when customers are free to "let go & have fun"
in an amazing experience filled with unlimited possibilities. With
most items priced between $1 and
$5, and some extreme value items
priced beyond $5 in our incredible
Five Beyond offering, Five Below makes it easy to say YES! to the
newest, coolest stuff across eight awesome Five Below worlds:
Style, Room, Sports, Tech, Create, Party, Candy and New & Now.
Founded in 2002 and headquartered in Philadelphia, Pennsylvania, Five Below today
has over 1,340 stores in 43 states. For more information, please
visit www.fivebelow.com or find Five
Below on Instagram,
TikTok, Twitter
and Facebook @FiveBelow.
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SOURCE Simon