"My Street" provoked an outflow of retailers from the Garden Ring
26.06.2017 2703

"My Street" provoked an outflow of retailers from the Garden Ring

According to the consulting company Knight Frank, the vacancy of retail space on the Garden Ring by the end of the first half of 2017 will reach a record value of 20,3% (27 thousand out of 129 thousand sq. M.), RBC reports.

The renovation of the city and the reduction of parking spaces under the My Street program led to the closure of a large number of shops on the Garden Ring. Tenants refuse to renew their contracts and close stores.

According to Knight Frank, about 5,5% of street retail space on the main shopping corridors (Tverskaya Street and quarters in the Moscow Boulevard Ring) is currently empty in Moscow against 6,2% in mid-2016. The number of closed stores has grown by 2017% since March 50.

On the Garden Ring, the shops of Bahetle, Good Enough, Beverly Hills Diner, Abitar Interior, The ABC of Taste, Moscow Jewelry Factory, Near Gorki, LinLine, Book House were closed.

The situation will change no earlier than in one or two years, when the reconstruction of the Garden Ring comes to an end.

According to the consulting company Knight Frank, the vacancy of retail space on the Garden Ring by the end of the first half of 2017 will reach a record value - 20,3% (27 thousand of ...
5
1
Rating

Latest News

Brunello Cucinelli increased revenue in the first quarter by 16,5%

With LVMH recently reporting a 2024% drop in revenue for the first quarter of 2 due to overall stagnation in the luxury market, Italian fashion house Brunello Cucinelli has bucked the trend. IN…
18.04.2024 61

Lamoda launches its own clothing and footwear brand

Russian online retailer Lamoda presented the first collection of its own women's clothing brand NUME. Exclusively on the Lamoda online platform under the NUME brand, about 90 items for women’s wardrobe are offered -…
18.04.2024 80

Shoe and clothing brands have released special collections for the 20th anniversary of the ST-JAMES boutique

The multi-brand boutique ST-JAMES, managed by a major player in the Russian fashion market, the Jamilco company, celebrates its 20th anniversary this year. A number of shoe and clothing brands represented in the boutique have prepared special…
18.04.2024 119

Balenciaga has released a new release of oversized 10XL sneakers

Fashion house Balenciaga debuted the 10XL sneaker during its fall 2024 runway show in Los Angeles back in December. At the time of the show, the first two color schemes of the new model were available for pre-order, which deliberately surprised...
17.04.2024 238

Bape and Adidas unveil a new silhouette of skate sneakers

Bape and Adidas have been collaborating for over 20 years and are debuting an all-new collaborative sneaker silhouette for the first time. Adidas N Bape is created in the spirit of skate culture of the early 00s and has some similarities with the Adidas Campus XNUMXs model,…
17.04.2024 1370
When you sign up, you will receive weekly news and articles about the shoe business on your e-mail.

To the beginning