As many as 15 new brands arrived on the Czech retail market in the first six months of this year.
Compared with the first halves of the past few years, this is the highest number since 2018, when multiple newcomers were attracted as a result of an outlet centre opening near Prague’s airport.
The number of newly arriving brands in the second half of the year has been traditionally higher than in the first half, mainly as a result of the Christmas season. In effect, the number of newcomers this year can be expected to be similar to last year’s 38.
“The Czech retail market remains attractive for international brands; it is often the first one in the Central and Eastern European region where they test their performance. The coronavirus pandemic has not changed anything about that – now that the restrictions have been lifted, customers are largely returning to shopping in physical stores and the local purchasing power is attractive for the brands,” said Jan Kotrbáček, Partner & Head of CEE Retail Agency team, Cushman & Wakefield:
French and fashion brands first and foremost
Four brands arrived from France, two from Slovakia, and one each from the other countries of origin. In line with a long-term trend, the most common are fashion and accessories retailers, and the ratio of those that target the mass market to those in the luxury/premium brands is balanced. Three brands are in the currently popular household equipment and accessories segment, and two are in the F&B segment.
Luxury brands and new projects increase the attraction of Pařížská Street
Chanel’s largest and only shop in Central Europe opened opposite the Old New Synagogue, enhancing the attractiveness of Pařížská in the vicinity of the River Vltava and the future Fairmont Golden Prague Hotel.
The area around the hotel is currently undergoing comprehensive regeneration, and new retail premises are being set up on the ground floor to offer exceptional lease opportunities to luxury brands. Offering more than 900 sq m of retail space, the beautifully refurbished building at Pařížská 25 will be similarly attractive for them.
Both of the flagship projects will considerably contribute to making this part of Pařížská Street more desirable.
