The Czech Republic recorded in 2017 the expansion of 31 new international brands, the highest figure in the region of Central Europe including Russia. Some 12 brands expanded to Slovakia. The expansion is related primarily with fashion, which formed up to 55% of the expansion to the Czech Republic. The brands included for instance Palmers (Prague) and Karl Lagerfeld (Prague). According to a study published by Cushman & Wakefield (C&W), the Central European market has been growing by higher dozens of new brands every year. The trend will continue in the future.
The Central European region also attracts luxury brands across all segments. The great majority are headed for Prague (Czech Republic), with Celine, Tory Burch, Patek Philippe, Rolls-Royce and Breiling arriving over the last two years. All of them opened their shops in Prague’s Pařížská Street, a luxury shopping location. Thanks to the high purchasing power of its elite class, Russia has seen the arrival of five new luxury brands. Rolex came to Hungary during the same period.
The Food & Beverage sector (“F&B”) has seen the greatest grow of all segments. It grew by 71% year-on-year in the Central European region. Seven new brands arrived in 2016, and 12 came in 2017. The growth was the strongest in the Czech Republic, Poland and Slovakia, with popular brands that opened their establishments including the likes of Vapiano (Prague), Pizza Hut (Prague), Blue Frog (Wroclaw), Papa John’s (Warsaw) and Nespresso (Bratislava).
Source: CIANEWS, Cushman & Wakefield