In St. Petersburg, there is an increase in the number of openings of fashion brand stores
The activity of retailers in the shopping centers of St. Petersburg from January to June 2023 was almost twice as high as in the first half of last year. According to experts from the consulting company Nikoliers, the most noticeable increase in the number of openings was recorded in the clothing and footwear segment, with both Russian and foreign brands opening outlets.
Despite the exit of a number of major international fashion operators from the Russian market, the average vacancy rate in St. Petersburg shopping centers decreased from 10,4% at the end of 2022 to 8,2% in June 2023. In the most high-quality shopping centers, the share of vacant premises decreased from 11,6% to 9,9% over six months. Most of all, free space in St. Petersburg shopping centers was absorbed by Russian retailers.
The clothing and footwear segment accounted for 72% of all openings in the first half of the year. Leadership is due, in particular, to the emergence of 21 Lebanese Daher Group stores. In addition, new retail outlets for Befree, sela, Finn Flare, Ralf Ringer, Kristina&Milan and Snezhnaya Koroleva brands have opened. The number of reopened stores also increased: Rive Gauche in the Leto shopping center and Miris in the Europolis shopping center resumed their work after repairs. After reconstruction, Furla and Mango were launched at the Gallery shopping mall, and Guess was launched at the Grand Canyon shopping mall.
“In the first half of 2023, we noted an increase in activity on the part of fashion tenants: compared to the first half of 2022, the number of clothing and footwear stores that opened has tripled,” comments Irina Tsarkova, Director of the Retail Real Estate Department at Nikoliers. - Basically, network fashion representatives already known to the city were opened, actively scaling up their business. Many companies are not only expanding their presence, but also expanding their range. So, Zarina launched a men's clothing line, Love Republic launched a Premium collection, and 12 Storeez plans to launch a line of home goods. Moreover, the composition of tenants in shopping malls continues to grow with new foreign brands. In the first half of the year, the Turkish brand Loft, the Estonian lingerie manufacturer BonBon Lingerie and the Australian sportswear brand 2XU entered the St. Petersburg market, and the stores of the Lebanese Daher Group – Maag, Dub, Ecru and Vilet were also opened.
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