Despite the sanctions announced by Western countries and the decision of many foreign brands to suspend their work in Russia, fashion brands have made an exception for the main fashion street of St. Petersburg. – Boutiques of fashionable luxury and premium brands continue to operate on Bolshoy Prospekt of the Petrogradskaya Side. Among them are Karl Lagerfeld, Pal Zilieri, Marella, Baldinini and others.
According to Yulia Kuznetsova, Deputy Director of the Department of Retail Real Estate at Nikoliers, Bolshoy Prospekt has one of the lowest levels of rotation among the central shopping corridors - 8,5% over the past 12 months, and one of the lowest vacancy levels - 5% in the 3rd quarter.
“Brands are doing their best to keep stores in street retail – sometimes we are talking about unique buildings that are important for them from an image point of view. The stores of the H&M group, which suspended work in the spring and summer, are now working - Cos, & other stories, H&M Home opened in August - according to their own statements, to sell off the leftovers, ”comments Yulia Kuznetsova.