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Prague Retail Guide

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Prague Retail Guide PRAGUE Cushman & Wakefield Global Cities Retail Guide Cushman & Wakefield | Prague | 2019 0 Prague is the capital city of the Czech Republic. It dominates the country as a business, cultural, educational, tourist and cosmopolitan centre. The historical centre of Prague is UNESCO protected and represents the biggest compact historical centre globally. The commercial and retail centre of Prague is in the historic central area on the right side of to the River Vltava. It is an attractive market for international retailers, particularly Prague’s high street. The district of Prague 1, where high street retail is concentrated, is defined by the area bounded by Parizska street and Palladium shopping centre to the north, and My Narodni department store and Wenceslas Square to the south. The prime area comprises some 700 units, together with over 500 units in secondary locations, equating to an estimated high street floorspace of 250,000 sqm. Prague has the biggest and most developed high street area within the whole CEE region. It is home to many flagship stores, including H&M, Zara, Foot Locker, M&S, C&A, Van Graaf, Mango, New Yorker, Louis Vuitton, Cartier, Dolce & Gabbana, Prada, Gucci, Hermes, Tiffany & Co., Jimmy Choo, Gant, Pandora, Hugo Boss, Baťa and Hard Rock Café plus many others. There are also a number of strong and well-performing shopping centres in Prague. Palladium, Centrum Chodov and Novy Smichov are the most important and best performing in the market. PRAGUE FACTS ABOUT CITY OVERVIEW 1.29 million inhabitants + 206,000 registered foreigners Annual footfall of 54 million at the busiest prime high street location in Prague – Wenceslas Square and Na Prikope Street 7.9 million tourists per year – a pull for international retailers Stores in Prague are open 7 days a week, 365 days a year Cushman & Wakefield | Prague | 2019 1 PRAGUE KEY RETAIL STREETS & AREAS NA PRIKOPE STREET PARIZSKA STREET Na Prikope street is the most developer high street retail The Parizska street is Prague’s prime luxury retail zone, destination in Prague and the hub of prime mass-market well known for international luxury retailers. Within the retailers in the city. Na Prikope is a pedistrianised street CEE region it represents the biggest luxury market. and links Wenceslas Square with Republic Square. This Parizska street, with its global brands and overall street is in the Top 25 most important and expensive high environment, is now one of the most interesting luxury streets worldwide and is recognized by a number of retail streets in Europe. Brands represented include Louis important international retailers and global brands Vuitton, Prada, Cartier, Gucci, Hermes, Fendi, Loro Piana, including H&M, Zara, Halada, Pandora, Swarowski, Tiffany & Co., TOD´S, Jimmy Choo, COS, Rolex, Dolce & Michael Kors, Douglas, Tous, Gant, Adidas, Nike, Gabbana, Dior, BVLGARI, Philipp Plein, Brunello Salamander, Carpisa, Benetton, Mango, Hugo Boss, Cucinelli, Celine, Escada, Burberry, Salvatore Ferragamo, Weekend, Max Mara, Desigual, Bershka, Tezenis, Pinko, Tory Burch, Longchamp, Valentino, Rimowa and Hamley’s, TGI Fridays and McDonald´s. many others. • 100,000 visitors per day • 30,000 visitors per day • 50,000 sqm of retail area • 20,000 sqm of retail area • 100 stores • 50 stores WENCESLAS SQUARE Wenceslas Square is a key part of high street in Prague and is one of the biggest and historically most important squares in Europe. It is connected with both Na Prikope street and the historical Old Town. Wenceslas square is a wide boulevard dominated by major flagship stores of international retailers including H&M, Van Graaf, Foot Locker, Levi´s, Desirred, Marks & Spencer, Gate, Reserved, Marc O´Polo, Bata, C&A, Calzedonia, Sephora, M.A.C. Cosmetics, McDonald´s, KFC, Burger King, Starbucks and others. • 80,000 visitors per day • 70,000 sqm of retail area • 200 stores Cushman & Wakefield | Prague | 2019 2 PRAGUE HIGH STREET AREA Cushman & Wakefield | Prague | 2019 3 PRAGUE MARKET OVERVIEW KEY AREAS / CONSUMER MAJOR RETAILERS PRESENT NEW ENTRANTS TYPICAL RENT RANGE OF UNIT STREETS/ SHOPPING PROFILE FOR UNIT OF SIZES CENTRES 200 SQM Na Prikope Mass-middle H&M, NIKE, GANT, Mango, Benetton, IQOS, Manufaktura, Footshop, 200-230 15–6,500 sqm market, tourists Zara, Pandora, Ecco, New Yorker, Vapiano, TOUS €/sqm/month Lacoste, Desigual, Hamley‘s, McDonald’s, Douglas etc. Wenceslas Square Mass-middle Van Graaf, H&M, Marks & Spencer, IKEA, Levi‘s 150-185 15–4,500 sqm market, tourists Foot Locker, C&A, McDonald’s, €/sqm/month Reserved, Bata, Gate, Sephora etc. Parizska Luxury, High Louis Vuitton, Dolce&Gabbana, Valentino, Montblanc, Céline, Furla, 200-230 40–2,500 sqm income, tourists Cartier, Gucci, Prada, Hermes, Tiffany Christian Louboutin €/sqm/month & Co., Hublot, Dior, Hugo Boss, Burberry, Jimmy Choo and Fendi etc. Palladium Mass-middle Gant, Foot Locker, H&M, Guess, Under Armour, Lindt, Sabon 85-140 15–2,650 sqm market, tourists Mothercare, Marks & Spencer, Levi’s, €/sqm/month Lacoste, Ecco, Geox, Deichmann, Swarovski, Lush, Sephora Novy Smichov Mass-middle Tesco, H&M, Lacoste, Zara, Mango, Under Armour, Nespresso 65-140 20–5,800 sqm market Billabong, Levi’s, Gant, Guess, €/sqm/month Marella, Storm, Swarovski Centrum Chodov Mass-middle H&M, C&A, Zara, Promod, Replay, Lilou, Huawei, Honor, Apart, Jo 50-80 20–5,750 sqm market Foot Locker, MAC, Armani Jeans, Malone €/sqm/month Tommy Hilfiger Fashion Arena Prague Premium market Adidas, Nike Polo Ralph Lauren, Under Armour, Högl, Yankee Candle, 30-35 60–500 sqm Outlet Lacoste, Tommy Hilfiger, Asics, Marc O‘Polo, Swarovski, Karl €/sqm/month* Swarovski, Armani, Pandora, Baldinini, Lagerfeld Gant, Guess, Geox NOTE: *base rent Cushman & Wakefield | Prague | 2019 4 PRAGUE SHOPPING CENTRES CENTRUM CHODOV PALLADIUM Centrum Chodov is a key shopping centre and fashion PALLADIUM is currently the only shopping mall in the destination in Prague, with daily footfall of 40,000 people, downtown historical Prague area, with a total size of total area of 102,242 sqm and 301 retail units. The 40,700 sqm. It opened in 2007. It is in a former army shopping centre is owned by Unibail-Rodamco and is very barracks building with unique architecture, combining the attractive for many new brands entering the market. A historical aesthetics with modern touch. The centre has number of international retailers are located in the centre 180 shops, 20 restaurants, bars and cafés over five floors. including H&M, Zara, Zara Home, Mondieu, Massimo PALLADIUM is connected to the Republic Square and Dutti, Denon, COS, Bogner, Karl Lagerfeld, Cremieux, Na Prikope street (the main high street location). Luisa Spagnoli, C&A, Peek & Cloppenburg, Marks & PALLADIUM became the best performing shopping centre Spencer, Promod, Replay, Swarovski, Sephora, M.A.C. in the Czech Republic with more than 50,000 visitors per Cosmetics, Nike and Foot Locker, plus many others. day, with the unique customer proportion of locals and Centrum Chodov has the largest cinema in Prague, with tourists of approximately 50:50. The market positioning of 18 screens, and also a large food court, covering over this scheme is mid-upper. 6,000 sqm. The location of Centrum Chodov is on the edge of town, NOVY SMICHOV surrounded by an office and residential district, next to the Novy Smichov is a one of the busiest shopping centres in most frequented highway D1, leading to Brno and Prague with a total size of 55,000 sqm. The centre is Bratislava. It is well connected to the city by public located in Prague 5, near the traffic hub Andel (metro line transport. B and tram lines leading to the western part of Prague). Novy Smichov opened in 2001 and has a daily footfall of FASHION ARENA PRAGUE OUTLET ca. 60,000 visitors and the proportion of locals and tourists is 95:5. Novy Smichov is the shopping centre with the Fashion Arena Prague Outlet is the most prominent and highest traffic in Prague. The wider location has become best performing factory outlet center in the Czech one of the most important office and residential districts Republic. With total size of 25,000 sqm and 107 retail and transport hubs in Prague. The positioning of this units, various premium retailers including Polo Ralph scheme is mid level. In 2018, anchor tenant Tesco was Lauren, Tommy Hilfiger, Armani, Lacoste and many downsized which allowed new retail units to open. As part others are located in the centre. The scheme is operated of the downsize, the scheme was also partially refitted. by VIA Outlets and its positioning is premium market. Cushman & Wakefield | Prague | 2019 5 DEVELOPMENT TO WATCH OUT FOR SAVARIN Total Scheme Size (GLA) 59,000 sqm - Retail 39,000 sqm - Leisure/Entertainment 8,000 (F&B) sqm Planned Opening Date 2021/2022 Scheme Type Multi-functional complex ABOUT THE DEVELOPMENT The largest down town development project, with a very significant location in the heart of Prague, connecting the Wenceslas Square with Na Příkopě, Jindřišská, and Panská Streets. It will offer more than 150 retail units. PRAGUE NEW DEVELOPMENT WATCH Cushman & Wakefield | Prague | 2019 6 PRAGUE FOOD & BEVERAGE Prague is a cosmopolitan city, There are domestic operators in various fast food, casual representing the largest cultural, dining, café, restaurant and pub sectors including Bageterie Boulevard, Cross Café, Fruitisimo, UGO retail, leisure and entertainment Salads, Kolkovna Pub, Potrefena Husa Pub, Lokal Pub, destination in the CEE region. Its Pizza Coloseum, KOBE and others. food and beverage offer reflects this. The majority of the international F&B brands have been operating in the market for a number of years now. The Traditional Czech cuisine is dominant, but Prague also following brands are present in the market; McDonald’s, has something to suit all international tastes and budgets. KFC, Burger King, Subway, Pizza Hut, Starbucks, Tchibo, Local Czech cuisine is represented by concepts such as Costa Coffee, Paul Bakery, Hard Rock Café, TGI Fridays, Lokal, Kolkovna, Potrefena Husa and Svejk restaurants.
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