The new 35,000-square-foot retail space is being designed by developer McArthurGlen, which is known for designing malls in Europe that sell brands like Armani, Burberry, Coach, Michael Kors and Prada at a discount.
"I think there's a pressing demand for a designer outlet centre. Right now probably three million Vancouverites a year drive south of the border to shop at Seattle's Premium Outlet mall," says Vancouver Airport Authorty's Tony Gugliotta.
"We're hoping those Canadians will stay in Vancouver and shop here at the airport."
Gugliotta says revenue from the mall will go toward airport infrastructure and keeping airline costs down.
The first store is scheduled to open in early spring 2015.
Click on the video above to see what the new mall will look like.