Shops of seven new premium brands have appeared on Prague’s high street Pařížská - Céline, Brunello Cucinelli, Hogan, Philipp Plein, Valentino, Elisabetta Franchi and Furla
Pařížská Street remains the most expensive street in Central and Eastern Europe, with prime rents going for 225 EUR/m2/mth and prime rents of 220 EUR/m2/mth being seen on Na Příkopě Street
According to a study performed by CBRE, the world leader in commercial real estate services, the Céline, Brunello Cucinelli, Hogan, Philipp Plein, Elisabetta Franchi and Furla brands have opened in Pařížská Street in the last six months. Due to the lack of retail space, Prague’s high street has expanded to the adjacent streets such as Na Příkopě.
Pařížská Street still pulls in the highest rent in the Czech Republic and interest of premium brands to open shops there isn’t declining. A number of new stores were opened over there last year. However, there haven’t been many changes carried out in terms of real estate itself, with long-term tenants frequently only changing the concept in their space. Pařížská Street attracts only the strongest players. Aside from premium and world-renowned brands, only strong local groups, that have luxurious fashion brands in their portfolio.
CBRE expects this stable trend to continue in 2018. Luxury brands previously located elsewhere are trying to move their shops to Pařížská Street. CBRE has also been monitoring the market and is registering aserious demand of several high-profile brands to open a shop in the prestigious area.
And how do rental rates look in other markets around the world?
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