The teen and tween extreme-value retailer and Simon are expanding their relationship, with Five Below poised to open stores in at least seven of Simon’s Premium Outlets centres.
Five Below, which opened its first outlet location in summer 2022, in Pearl, Mississippi, plans to plans to open a record 200 new stores this year.
“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,” said George Hill, Chief Retail Officer of Five Below. “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.”
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.
“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 VP of Leasing at Simon.
