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Pařížská is expanding to the surrounding streets

Luxury brands are seeking new Prague sales outlets. According to the latest survey conducted by CBRE, the global leader in commercial real estate services, an expansion of global luxury brands is underway on the Czech market. Prague is a popular destination, largely Pařížská street and established business zones in the city centre, thus putting pressure on demand in the retail properties sector with businesses expanding into the surrounding streets.

Tomáš Beránek, Associate Director, High Street and Tenant Representation, commented:

"Many companies prefer the concept of opening their first store in the lucrative spot. Subsequently, after the introduction of the brand in a given market, it is possible to open more stores in less interesting locations, as customers are already familiar with the brand and are willing to find the nearest store and go there. The Czech Republic, and mainly the city of Prague, are increasingly becoming a popular target for luxury brands that are entering the Central and Eastern European market. Sellers of new brands largely prefer Pařížská a street or the centre. "

The capacity of the most famous shopping street in Prague, Pařížská, is already quite crowded. To satisfy client requirements, the existing business zones have been expanding, not only luxury fashion shops. HUBLOT has opened a shop offering watches recently around Široké Street, as has jewellery dealers Boucheron or The Brands. You can now buy luxury accessories by Cerutti in Havířská street. The same trend is evident in sales zones, focusing on the middle and lower market segments, including Na Poříčí Street, Wenceslas Square and the Revoluční Street, which have expanded into Národní, Jindřišská and Vodičkova Streets and in the opposite direction to V Celnici street. In this area you can visit iStyle, HTC, Topshop or Dormeo stores and a series of gastronomic chains. This is mainly those parts of the streets adjacent to the established business districts (see map attached).

Shopping centres can provide an alternative to the “High Street”. A typical example is Palladium, which is located in a busy area, and is visited by many tourists. New brands have well-connected and established sales outlets at their disposal. However, this is based on the availability of high quality retail space. Key tourist areas like street Celetná, Rytířská and Karlova streets remain undeveloped in terms of retail space, with many visitors strolling daily. Typically, there are souvenir shops, but also gastronomic establishments such as Cafe cafe, as well as a fashion stores like Replay and Lui Jo.