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Since 1999, Chelsea Property Group has been an active developer of Premium Outlets Centers® outside the United States. Chelsea Japan, our 40%-owned joint venture based in Tokyo, owns and operates the largest and most successful outlet centers in Japan. Premium Outlets de Mexico , a 50%-owned joint venture and opened the first upscale outlet center in Mexico City in 2004. Shinsegae Chelsea, a 50%-owned joint venture, opened its first center in Korea in June 2007.
Simon/Chelsea International is the entity created by Simon Property Group designed to enable Chelsea Property Group, a division of SPG, to pursue its international activities.
Chelsea Japan Co., Ltd. owns and operates seven of Japan's largest and most successful outlet centers – Gotemba Premium Outlets, west of Tokyo; Sano Premium Outlets, north of Tokyo; Rinku Premium Outlets, south of Osaka; Tosu Premium Outlets, Fukuoka; Toki Premium Outlets, Northeast of Nagoya; Kobe–Sanda Premium Outlets and Sendai–Izumi Premium Outlets. Ami Premium Outlets will open in Summer 2009. Chelsea Japan is a joint venture of Chelsea Property Group (40%) and Mitsubishi Estate Co., Ltd. (60%).
Premium Outlets de Mexico is a joint venture between Chelsea Property Group and Mexico City-based Sordo Madaleno y Asociados. In December 2004 the partnership opened Mexico's first Premium Outlet center, Premium Outlets Punta Norte, located on the Periferico, a major north-south artery in Mexico City.
Shinsegae Chelsea Co., Ltd., has adapted Chelsea's Premium Outlets concept to develop upscale, fashion-oriented outlet centers in Korea. Based in Seoul, Chelsea and Shinsegae (Shinsegae Co., Ltd. and Shinsegae International Co., Ltd. together, "Shinsegae") each have a 50% interest in the venture. The joint venture's first project, Yeoju Premium Outlets, opened June 1, 2007. The center is located southeast of Seoul and serves the greater Seoul market.
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