According to the results of a survey conducted by CBRE, interest in the Czech Republic has remained a key destination for the entry of new brands into the market of Central and Eastern Europe. 22 brands expanded to the Czech market in 2016, while none of the active brands closed shop. The Mothercare and Harmont & Blaine shops left the Czech Republic in early 2017.
The Czech Republic has remained an attractive destination for the entry of new brands. Seven new brands entered the local market last year, which is more than in 2015 or 2014. The growth in interest in the Czech Republic as an entry destination can also be expected this year. Companies always prefer to enter the market in the capital city of Prague, choosing “Prime” business locations. In 2016, the prevailing interest was in “high street” destinations like Pařížská Street, focused mainly on luxury products, where companies opened their first store last year, including COS, Pinko, Breitling, Patek Philippe and Rolls-Royce. However, the share of new-brand stores opened in shopping centres last year was slightly lower, with Centrum Černý Most and Centrum Chodov ranking among the most popular shopping centres in Prague.
Veronika Tebichová, Head of Retail Agency at CBRE, said: “We added more new brands in luxury shopping streets in 2016, so-called “high streets” than in shopping malls. This trend is influenced by the available areas and sales opportunities at the moment. Of course companies that enter the market always choose the best destinations and projects based on their capacity. In the long term, the prevailing trademarks sell fashion and accessories.”