Pařížská Street: The Luxury Hub of Central and Eastern Europe

Pařížská Street, situated in the heart of Prague, has earned the prestigious title of being the most significant luxury street in Central and Eastern Europe. This dynamic location is the first choice for many luxury brands looking to establish a regional presence.

As of the end of last year, 50 luxury brands made their home on Paris Street, more than any other Central European metropolis. Top fashion houses such as Louis Vuitton, Dior, Gucci, Hermès, Chanel, and Prada have their largest stores in the region.

This flurry of luxury commerce has propelled Paris Street into Europe’s top 20 most important luxury streets, a list compiled by consulting firm Cushman & Wakefield. Furthermore, at the end of last year, all the spaces on Paris Street and its surroundings were fully occupied, a testament to its prestige and desirability.

Despite the slump caused by the COVID-19 pandemic, the strong demand has helped to revive this luxury shopping district. The highest rent on Paris Street reached 225 euros (over 5500 crowns) per square meter per month in the second half of last year, roughly the same as in 2018.

Two new projects will mitigate the lack of available spaces on Paris Street in the future. This year, the street’s capacity is expected to increase by about 15 percent, bringing even more luxury commerce to this bustling hub.