Unprecedented Surge in Fashion Retail Openings on Pařížská Street!
In the year 2024, a total of 83 brand-new luxury stores opened across 20 significant premium streets located in 16 cities within 12 different countries throughout Europe. This information is based on research conducted by the real estate consultancy firm Cushman & Wakefield, titled European Luxury Retail 2025.
Pařížská Street saw the addition of five new luxury outlets, and experts anticipate that 2025 will truly set a new record for luxury retail activity.
This iconic street features over 50 stores from prestigious international brands, with most of them being directly operated. Renowned luxury labels such as Louis Vuitton, Gucci, Prada, Chanel, Celine, Bulgari, Tiffany & Co., and many others proudly showcase their flagship locations in this area.
In 2024, five new luxury stores were launched on Pařížská Street and the neighboring area. Among these is the flagship location of Patrizia Pepe at Pařížská 21, along with The Brands on Maiselova Street, Le Labo and The Ingredients on Vězeňská Street, as well as the first boutique of Tudor in the Czech Republic situated in Old Town Square.
Additionally, in 2025, Cartier will also be expanding its retail presence.
Apart from developments on Pařížská Street, the luxury retail market in Prague is further elevated by the launch of Balmain Hair Couture on Dlouhá Street.
Furthermore, two significant projects scheduled for completion in 2025 will greatly enhance the luxury shopping landscape in this area.
The transformation of the former InterContinental Hotel into Fairmont Golden Prague is set to introduce a total of 7 new stores, encompassing 1,200 sq m of retail space.
The Pařížská 25 initiative by Kaprain Real Estate will provide an additional 1,000 sq m of high-end retail space, paired with the development of 19 luxury residential apartments on the upper levels.
Jan Kotrbáček, the Head of Retail Agency CEE at Cushman & Wakefield, states: “The strong demand for luxury brands on Pařížská Street, demonstrated by the absence of any vacancy in retail spaces by the end of 2024, highlights its continued allure as a top-tier luxury shopping destination in Central and Eastern Europe.”
Fairmont Golden Prague will also welcome the Czech launches of jewelry brands Grenardi, Pasquale Bruni, and Damiani, along with a new flagship store for Max Mara, a contemporary art gallery named Kodl Contemporary, and additional esteemed brands to be announced in the near future.
