The retail market in the Czech Republic welcomed 39 new brands in the last year, marking the highest influx in the past decade. More than a third of these businesses belong to the food, beverage, and grocery sectors, with 14 new brands making their debut. The fashion industry followed with nine new entries. Italy led in country of origin, introducing eight new brands to the Czech Republic, followed by Slovakia with five and France with four.
Among the most significant brands that entered the Czech market last year were Victoria’s Secret, Popeyes, Signorvino, Rossopomodoro, and Zadig & Voltaire, according to real estate consulting firm Cushman & Wakefield. The firm’s research confirms that the Czech market, primarily Prague, continues to be the main gateway for retail brands into Central and Eastern Europe.
The presence of a large number of international companies is a result of the long-term growing purchasing power of the Czech population and the development of a business environment in which companies thrive, said Jan Kotrbáček, Head of the retail leasing team for Central and Eastern Europe at Cushman & Wakefield. He added that a key factor for international brands entering the market is that the Czech Republic, especially Prague, is a significant European and global tourist destination.
Tourists comprise a significant clientele, especially in Prague and major shopping centers. Last year, 33 brands headed to Prague, while Brno and Ostrava welcomed two each, and Hatě and Hradec Králové one each.
According to Kotrbáček, the Czech market will see mainly new and more dominant concepts of brands that already operate here in the coming year. He also anticipates the arrival of new brands, including the planned opening of Five Guys, another fast-food chain in central Prague.
The Czech market was particularly shaken by two names last year, according to Cushman & Wakefield. The American lingerie brand VictVictoria’sret opened its first local store in the Westfield Chodov shopping center in Prague in May, and the American fast-food chain Popeyes, which has been operating on Wenceslas Square in Prague since early November.
As we look ahead, it’sit’sar that the retail landscape in the Czech Republic is shifting and growing, offering both consumers and businesses exciting new opportunities.