According to a study performed by CBRE, 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.
Tomáš Beránek, Head of High Street Retail and Tenant Representation at CBRE, said: “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.
Pařížská Street remains the most expensive street in Central and Eastern Europe, with prime rents going for €225 sqm/month and prime rents of €220 sqm/month being seen on Na Příkopě Street