German high-end fashion designer Karl Lagerfeld has entered the Prague retail market with an opening at the Myslbek shopping gallery along the city’s main shopping high street Na Příkopě. Next week, another Lagerfeld opening will take place at Centrum Chodov, a shopping mall that’s being expanded in Prague 4. Vermont Holding, owned by Amadeo Naumann, holds the Lagerfeld licence in the Czech Republic and Slovakia. The first Lagerfeld store in the CEE region opened at the Aupark shopping center in Bratislava. Luxury brands have increasingly started to look for space in shopping centers as high-street space remains occupied. The lack of space has pushed rent prices up in top locations. Last year rents rose 7.5 percent in Prague and in 2017, 5 percent increase is expected.
