12th Oct 2016 06:39
LONDON (Alliance News) - Media and e-commerce company Time Out Group PLC on Wednesday said it has signed a conditional lease to launch a Time Out Market in Shoreditch, east London.
Time Out said it has signed a lease to launch a Time Out Market at 106 Commercial Street, noting it would be the first Time Out Market in London if and when planning permission is secured for the site. Once planning consent is secured, Time Out said it expects the market will open by the second half of 2017.
Time Out already runs a Time Out Market, a food market concept, in Lisbon, Portugal, and last week announced plans to launch a second market in Porto. It also is progressing plans for markets in New York and Miami in the US. Time Out said the Lisbon market achieved 106% growth in proforma revenue in the first half of 2016 from a year before.
"I'm absolutely delighted to announce that we will be bringing our unique Time Out Market format to London. This is not only one of the world's most vibrant and exciting cities, but also the birthplace of our iconic brand," said Julio Bruno, Time Out's chief executive.
By Sam Unsted; [email protected]; @SamUAtAlliance
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