VMSD - October 2017 - 10

O L G A G AV R I L O VA/S H UT T E R ST OC K

THE GOODS

TWO-MINUTE TOUR:

Prague

The Numbers
Prague, the capital of the Czech Republic, is
one of Europe's oldest cities, founded in the
year A.D. 880. It's also one of the largest (1.4
million people, 14th largest in the EU) and most
popular for tourists, with more than 6.4 million
international visitors annually, and the fifthmost-visited European city - after London,
Paris, Istanbul and Rome.
Prague is also one of the most economically
stable cities in the EU. According to "Market
Overview: Czech Republic, Q2, 2017," a report
by Toronto-based commercial real estate firm
Colliers Intl., the Czech economy saw 3 percent GDP growth in the second quarter of
2017. "Rising consumer spending, with retail
sales up 5 percent and wage growth of around
5 to 6 percent in a tight labor market were both
contributing factors," according to the report.
"The June unemployment rate was 4 percent,
the lowest in Europe."
The Pulse
With strong tourist traffic and a stable economy, it's no surprise that Prague is a destination for the world's luxury retailers. The likes of

10

OCTOBER 2017

|

VMSD.COM

Louis Vuitton, Burberry, Armani, Gucci, Zegna,
Rolex, Tiffany and Ferragamo have planted
their flags there, mostly on Paˇrížská and Na
Pˇríkopˇe streets in the city's central Old Town
Square district.
"Twenty-one of the world's largest luxury
brands are present in Prague," says Marjan
Gigov, senior consultant in the Prague office of
JLL, the Chicago-based international financial
services firm.
Available space on Paˇrížská has become
almost nonexistent, and brands are now spilling over to adjacent streets, such as Široká,
Kosteˇcná and Staromˇestské Námˇestí (the site
of a new Cartier shop).
The Hot Spots
The Vinohrady is the old vineyard district, still
historic but also a sleek, modern area for wining and dining. Spacious old apartments with
high, vaulted ceilings have made it a home for
young natives, and also for expats. Centrally
located, it has easy access to public transport.
Žižkov, slightly further west, is more rough
and tumble - the site of dive bars and the
highest per capita concentration of drinking

venues of any district in Europe.
Quiet, leafy Karlín, along the Vltava River,
was devastated by floods in 2002, but has been
experiencing a renaissance, thanks primarily
to the River City development, an office and
luxury apartment complex that includes retail
and a public square.
Obstacles and Opportunities
"Prague is the only location that luxury brands
take into account when considering going
into Central and Eastern Europe," wrote the
authors of JLL's Prague City Report. "Demand
for quality space on Prague's high streets is
outstripping supply, which is reflected in the
current monthly rent rate of up to 190 euros
per square meter for a unit of 100 square
meters [roughly $20 per square foot for 1000
feet] in a prime location."
Two projects under way now will enrich
the retail market in the center of Prague: Savarin Palace, a mixed-use development linking
Wenceslas Square and Na Pˇríkopˇe street; and
the Zaha Hadid Architects-designed 2016 revitalization of the Masaryk railway station, with
shops and dining. -Steve Kaufman


http://www.VMSD.COM

Table of Contents for the Digital Edition of VMSD - October 2017

Vmsd - October 2017
Contents
From the Editor
Vmsd Editorial Advisory Board
The Goods
Next Store
Dinner Is Served
Shopper Insig Hts: Show and Tell
Retail by You
From Clicks to Bricks
Showroom
Showroom
Ad Index
Checking Out
VMSD - October 2017 - Intro
VMSD - October 2017 - BB1
VMSD - October 2017 - BB2
VMSD - October 2017 - Vmsd - October 2017
VMSD - October 2017 - Cover2
VMSD - October 2017 - 1
VMSD - October 2017 - Contents
VMSD - October 2017 - 3
VMSD - October 2017 - From the Editor
VMSD - October 2017 - 5
VMSD - October 2017 - Vmsd Editorial Advisory Board
VMSD - October 2017 - 7
VMSD - October 2017 - The Goods
VMSD - October 2017 - 9
VMSD - October 2017 - 10
VMSD - October 2017 - 11
VMSD - October 2017 - 12
VMSD - October 2017 - 13
VMSD - October 2017 - Next Store
VMSD - October 2017 - 15
VMSD - October 2017 - Dinner Is Served
VMSD - October 2017 - 17
VMSD - October 2017 - 18
VMSD - October 2017 - 19
VMSD - October 2017 - 20
VMSD - October 2017 - 21
VMSD - October 2017 - 22
VMSD - October 2017 - 23
VMSD - October 2017 - Shopper Insig Hts: Show and Tell
VMSD - October 2017 - 25
VMSD - October 2017 - 26
VMSD - October 2017 - 27
VMSD - October 2017 - 28
VMSD - October 2017 - 29
VMSD - October 2017 - Retail by You
VMSD - October 2017 - 31
VMSD - October 2017 - 32
VMSD - October 2017 - 33
VMSD - October 2017 - From Clicks to Bricks
VMSD - October 2017 - 35
VMSD - October 2017 - 36
VMSD - October 2017 - 37
VMSD - October 2017 - 38
VMSD - October 2017 - 39
VMSD - October 2017 - Showroom
VMSD - October 2017 - 41
VMSD - October 2017 - 42
VMSD - October 2017 - 43
VMSD - October 2017 - 44
VMSD - October 2017 - Showroom
VMSD - October 2017 - 46
VMSD - October 2017 - 47
VMSD - October 2017 - 48
VMSD - October 2017 - 49
VMSD - October 2017 - 50
VMSD - October 2017 - 51
VMSD - October 2017 - 52
VMSD - October 2017 - 53
VMSD - October 2017 - Ad Index
VMSD - October 2017 - 55
VMSD - October 2017 - Checking Out
VMSD - October 2017 - Cover3
VMSD - October 2017 - Cover4
https://www.nxtbook.com/nxtbooks/STMG/vmsd_20200304
https://www.nxtbook.com/nxtbooks/STMG/vmsd_201802
https://www.nxtbook.com/nxtbooks/STMG/vmsd_201801
https://www.nxtbook.com/nxtbooks/STMG/vmsd_201712
https://www.nxtbook.com/nxtbooks/STMG/vmsd_201711
https://www.nxtbook.com/nxtbooks/STMG/vmsd_201710
https://www.nxtbook.com/nxtbooks/STMG/vmsd_201709
https://www.nxtbook.com/nxtbooks/STMG/vmsd_201708
https://www.nxtbook.com/nxtbooks/STMG/vmsd_201707
https://www.nxtbook.com/nxtbooks/STMG/vmsd_201706
https://www.nxtbook.com/nxtbooks/STMG/vmsd_201705
https://www.nxtbook.com/nxtbooks/STMG/vmsd_201704
https://www.nxtbook.com/nxtbooks/STMG/vmsd_201703
https://www.nxtbook.com/nxtbooks/STMG/vmsd_201702
https://www.nxtbook.com/nxtbooks/STMG/vmsd_201701
https://www.nxtbook.com/nxtbooks/STMG/vmsd_201612
https://www.nxtbook.com/nxtbooks/STMG/vmsd_201611
https://www.nxtbook.com/nxtbooks/STMG/vmsd_201610
https://www.nxtbook.com/nxtbooks/STMG/vmsd_201609
https://www.nxtbook.com/nxtbooks/STMG/vmsd_201608
https://www.nxtbook.com/nxtbooks/STMG/vmsd_201607
https://www.nxtbook.com/nxtbooks/STMG/vmsd_201606
https://www.nxtbook.com/nxtbooks/STMG/vmsd_201605
https://www.nxtbook.com/nxtbooks/STMG/vmsd_201604
https://www.nxtbook.com/nxtbooks/STMG/vmsd_201603
https://www.nxtbook.com/nxtbooks/STMG/vmsd_201602
https://www.nxtbook.com/nxtbooks/STMG/vmsd_201601
https://www.nxtbook.com/nxtbooks/STMG/vmsd_201512
https://www.nxtbook.com/nxtbooks/STMG/vmsd_201511
https://www.nxtbook.com/nxtbooks/STMG/vmsd_201510
https://www.nxtbook.com/nxtbooks/STMG/vmsd_201509
https://www.nxtbook.com/nxtbooks/STMG/vmsd_201508
https://www.nxtbook.com/nxtbooks/STMG/vmsd_201507
https://www.nxtbook.com/nxtbooks/STMG/vmsd_201506
https://www.nxtbook.com/nxtbooks/STMG/vmsd_201505
https://www.nxtbook.com/nxtbooks/STMG/vmsd_201504
https://www.nxtbook.com/nxtbooks/STMG/vmsd_201503
https://www.nxtbook.com/nxtbooks/STMG/vmsd_201502
https://www.nxtbook.com/nxtbooks/STMG/vmsd_201501
https://www.nxtbook.com/nxtbooks/STMG/vmsd_201412
https://www.nxtbook.com/nxtbooks/STMG/vmsd_201411
https://www.nxtbook.com/nxtbooks/STMG/vmsd_201410
https://www.nxtbook.com/nxtbooks/STMG/vmsd_201409
https://www.nxtbook.com/nxtbooks/STMG/vmsd_201408
https://www.nxtbook.com/nxtbooks/STMG/vmsd_201407
https://www.nxtbook.com/nxtbooks/STMG/vmsd_201406
https://www.nxtbook.com/nxtbooks/STMG/vmsd_201405
https://www.nxtbook.com/nxtbooks/STMG/vmsd_201404
https://www.nxtbook.com/nxtbooks/STMG/vmsd_201403
https://www.nxtbook.com/nxtbooks/STMG/vmsd_201402
https://www.nxtbook.com/nxtbooks/STMG/vmsd_201401
https://www.nxtbook.com/nxtbooks/STMG/vmsd_201312
https://www.nxtbook.com/nxtbooks/STMG/vmsd_201311
https://www.nxtbook.com/nxtbooks/STMG/vmsd_201310
https://www.nxtbook.com/nxtbooks/STMG/vmsd_201309
https://www.nxtbook.com/nxtbooks/STMG/vmsd_201308
https://www.nxtbook.com/nxtbooks/STMG/vmsd_201307
https://www.nxtbook.com/nxtbooks/STMG/vmsd_201306
https://www.nxtbook.com/nxtbooks/STMG/vmsd_201305
https://www.nxtbook.com/nxtbooks/STMG/vmsd_201304
https://www.nxtbook.com/nxtbooks/STMG/vmsd_201303
https://www.nxtbook.com/nxtbooks/STMG/vmsd_201302
https://www.nxtbook.com/nxtbooks/STMG/vmsd_201301
https://www.nxtbook.com/nxtbooks/STMG/vmsd_201212
https://www.nxtbook.com/nxtbooks/STMG/vmsd_201211
https://www.nxtbook.com/nxtbooks/STMG/vmsd_201210
https://www.nxtbook.com/nxtbooks/STMG/vmsd_201209
https://www.nxtbook.com/nxtbooks/STMG/vmsd_201208
https://www.nxtbook.com/nxtbooks/STMG/vmsd_201207
https://www.nxtbook.com/nxtbooks/STMG/vmsd_201206
https://www.nxtbook.com/nxtbooks/STMG/vmsd_201205
https://www.nxtbook.com/nxtbooks/STMG/vmsd_201204
https://www.nxtbook.com/nxtbooks/STMG/vmsd_201203
https://www.nxtbook.com/nxtbooks/STMG/vmsd_201202
https://www.nxtbook.com/nxtbooks/STMG/vmsd_201201
https://www.nxtbook.com/nxtbooks/STMG/vmsd_201112
https://www.nxtbook.com/nxtbooks/STMG/vmsd_201111
https://www.nxtbook.com/nxtbooks/STMG/vmsd_201110
https://www.nxtbook.com/nxtbooks/STMG/vmsd_201109
https://www.nxtbook.com/nxtbooks/STMG/vmsd_201108
https://www.nxtbook.com/nxtbooks/STMG/vmsd_201107
https://www.nxtbook.com/nxtbooks/STMG/vmsd_201106
https://www.nxtbook.com/nxtbooks/STMG/vmsd_201105
https://www.nxtbookmedia.com