Half of the suitable brands coming to Eastern Europe choose Prague for the location of the first store. The prestigious American shoemaker Stuart Weitzman, who wears Hollywood stars, recently entered the domestic market in this way. In May, the trendy cosmetic brand Nyx of the well-known blogger Toni Ko will arrive at the Parisian open boutique of designer Tory Burch. However, there are also players who leave the Czech Republic due to poor results. An example is the Italian Penny Black from the fashion house Max Mara.
For the world’s fashion brand, Prague is the number one location in its expansion into Central and Eastern Europe. In the case of luxury, half of all brands come to the region to choose the first store to choose the first store, according to a survey by CBRE.
“The Czech Republic is a popular destination in Central and Eastern Europe, mainly for brands offering luxury goods,” says Veronika Tebichová, head of retail at CBRE’s Prague office. The trend is documented by the American shoe manufacturer Stuart Weitzman. Last year, a shoemaker wearing a number of world movie stars personally opened a store in U Obecního domu Street in the center of the metropolis.
Fewer newcomers than before
Among the newcomers is also the Tory Burch brand of the American designer and dollar billionaire of the same name, which Forbes magazine ranks seventy-third in the ranking of the most influential women in the world. There are voices from the owners of shopping centers that there could be more news. “Compared to previous years, there are surprisingly fewer new brands.
One of the reasons is that the Czech retail market is starting to mature, “says Ivan Michněvič, a manager from the French company Klepierre, which includes, for example, the Nový Smíchov shopping center. On the contrary, according to him, there is still room for new new concepts.
Plus 15, minus 4
However, there are also brands that decide to leave the Czech Republic due to poor results. An example is Penny Black from the Italian fashion holding Max Mara. In the Czech Republic, the first store of this brand did not warm up for even a year.
“The brands have left, but it was more about the fact that within their portfolio it is replaced in the given locality by more suitable concepts better focused on target customers,” we receive Tebichová from CBRE. In total, four brands disappeared from the Czech Republic last year. However, there were fifteen newcomers. According to the consultants, this is proof that the Czech Republic is still a promising market.
|L’Oréal will introduce Nyx to the Czech Republic|
|At the beginning of May, the first independent store of the American cosmetic brand Nyx in Central and Eastern Europe and the seventh in the world will open in the Nový Smíchov shopping center. The fast-growing brand betting on social networks and bloggers has been part of the portfolio of the French concern L’Oréal since last year. He bought it from the founder of the brands, an American of Korean origin Toni Ko.|