In the recent Colliers podcast, Marjan Gigov, Head of Retail Agency, discussed the unique status of Pařížská Street as Prague's premier luxury shopping destination. As the only Prime High Street in Central and Eastern Europe, Pařížská boasts an impressive array of the world's most prestigious brands. How long did it take to create Pařížská Street with luxury boutiques in Prague? Is there room for the creation of another so-called. Prime High Street? Are there any brands popular among Czechs? Marta Lipovská talked about these questions and other topics with Marjan Gigov, Head of Retail Agency. The video is in Czech with English subtitles.

 

Key takeaways from the discussion:

1. Pařížská's evolution: From its first luxury store opening in 1997 (Hermès), the street quickly transformed into a hub for high-end brands within a decade.
2. Current occupancy: 48 out of 50 retail units are occupied, with fashion and accessories dominating at 66%, followed by watches (15%) and shoes (13%).
3. Customer base: While traditionally reliant on international tourists, particularly from Russia and China, the pandemic revealed strong local demand for certain brands like Cartier, Hermès, and Dior.
4. Expansion challenges: Despite high interest from new brands, limited available space makes entry difficult. The nearby Široká Street area is being developed as a potential extension of the luxury zone.
5. Future trends: There's growing interest from "bridge" brands - those between premium and luxury - seeking presence near established luxury retailers.
6. Retail landscape: The discussion touched on the broader retail scene, including the popularity of shopping centers like Chodov and the increasing interest of traditionally out-of-town brands in city center locations.

Marjan hinted at exciting developments for the Czech retail market in the coming year, suggesting that shoppers should stay tuned for new brand arrivals in various segments.

This insightful conversation highlighted Prague's significance in the global luxury retail landscape and the dynamic nature of its high-end shopping scene.