A record number of new brands entered the Czech retail market last year. In the past ten years, since Cushman & Wakefield has been closely monitoring this activity, none equalled the 2023 list of 39 new retail brands.
Jan Kotrbáček, Head of Retail Agency, Central and Eastern Europe, Cushman & Wakefield, explains: "The Czech market, and Prague in particular, is attractive for retail brands and remains their main gateway to the CEE region. The presence of a large number of international companies is, among other things, a result of the long-term growing purchasing power of the Czech population and the development of a business environment in which companies are thriving.“ He added the fact that the Czech Republic and Prague are important European and world tourist destinations also plays a significant role.
The fashion sector is traditionally strong among the arrivals. The luxury goods segment was expanded by the Italian winter clothing brand MooRER in Maiselova Street and the French fashion brand Zadig & Voltaire in Široká Street. The shoe brand Jimmy Choo, after a year's absence of a full-fledged retail store, moved to Pařížská 21. The lingerie brand Victoria's Secret opened its first local store in Prague's Westfield Chodov shopping centre in May.
The F&B segment was enriched by Aperol Spritz Terrace opened in Prague's Mánes, the Holy Pasta concept in Manifesto Market and The Alley tearoom in Na Příkopě Street. Italian concepts headed to shopping centres: Rossopomodoro to Palladium and Signorvino to Westfield Chodov. The American fast food chain Popeyes opened in Dům módy on Prague's Wenceslas Square in early November. The so-called travel retail was enriched by the Bottega Prosecco Bar and Natoo brands at Prague Airport and the main railway station.
In the grocery segment, BILLA and Makro introduced new formats for their stores. Customers can now find VIVA BILLA stores at petrol stations and Makro wants to reach visitors to the centre of Prague or office areas with Bonveno stores.
33 brands headed to Prague. Brno and Ostrava welcomed two brands each, Hatě and Hradec Králové one each. The proportion of brands that opened stores in shopping centres and those that chose the so-called high street is balanced. Jan Kotrbáček also adds an outlook for the near future: "Next year we can look forward to new and more dominant concepts from existing brands operating on the market. We are also expecting new brands to arrive, of which I can now mention, for example, the upcoming opening of Five Guys, another fast-food chain in the centre of Prague."
