Jan Kotrbáček, Partner & Head of the CEE Retail Agency team, Cushman & Wakefield has said: “Victoria’s Secret is a hugely successful brand all around the world for a whole range of reasons. The brand is also driven by inspiring store design and strong product storytelling, reinforced by world-famous fashion shows which are some of the most followed and shared events on social media. Its stores attract high foot traffic and generate a lot of attention. This makes them the type of sought-after tenants that shopping centers want to have in their mix to cater to all the customers who crave the brand. By constantly coming up with new collections, products, and store designs, the company can continually offer its customers something new, thus maintaining its store traffic, appeal, and sales at a very high level. Its stores are always one of the centerpieces and primary attractions of shopping centers and the high street.”
New brands are drawn to Czechia by its well-developed market and purchasing power
Some of the most popular US brands with a long-term presence in the Czech market are Nike, Levi’s, Tommy Hilfiger, Michael Kors, Adidas, and Calvin Klein. Of these, most opened their Czech flagship store on Prague’s Na Příkopě Street, which is the busiest shopping street in the CEE region.
“The Czech Republic offers one of the most attractive retail environments for multinational corporations in the fashion industry and other sectors, primarily because of the top-quality tenant mix combined with very strong business performance. The abundance of global companies is the natural outcome of long-term growth in the purchasing power of the Czech population, along with the development of a business climate in which companies can prosper. At the same time, the Czech Republic, and Prague in particular, are major European and global travel destinations, where tourists account for a significant share of foreign stores’ clientele. This is especially true in the center of Prague and at major shopping centers, which is where newly-arrived brands usually launch their first stores, before expanding to other Czech cities,” states Kotrbáček.