Luxury brands have begun to leave Stolichny Lane. After he became pedestrian, shops have lost the target highly profitable audience. What else reasons are called by experts? Stoleshnikov Lane in Moscow. Photo: AGN "Moscow" From Stoleshnikov Lane in the center of Moscow have begun to move down luxury brands. Writes RBC about it. Experts call several reasons at once: lack of the parking and, as a result, target audience — buyers with high income, besides the cost of rent became excessive for some brands. Last year the Cushman & Wakefield company recognized Stoleshnikov as the most expensive street of Russia, on average rent costs approximately 215 thousand rubles for square meter there. In universal rating the lane takes the 15th place. Since the beginning of 2018 Stoleshnikov Lane was already left by the Michael Kors, Chaumet, Moncler and Jimmy Choo brands, Van Cleef & Arpels plans to move also. At the same time it is absolutely unclear what street in Moscow can become an alternative to expensive lane, the area director of the street retail of the Knight Frank company Victoria Kamlyuk says: Victoria Kamlyuk the area director of the street retail of the Knight Frank company "The only thing that in this subject occupies me most of all: where will they leave? One luxury brand can't go and lease suddenly the room, say, on any other street in the center. He needs the good neighbourhood, respectively, we have need for 3-5 thousand square meters of the qualitative retail with show-windows placed more or less in one location that a certain new trade corridor for luxury was created. The street retail is most often a great number of owners, at each room the certain owner, to control the neighbourhood or to somehow predict it extremely difficult, usually it is formed spontaneously, or if at a number of rooms the uniform owner, he can observe any concept and control the neighbourhood of tenants. I just don't understand where they can leave, there is no such platform at the moment, after the My Street program it is very difficult to choose enough meters for resettlement and expansion of luxury". For the end of the I quarter the share of free rooms in Stoleshnikovy Lane has increased to 13%. There is a probability that the empty shops will fill bonus brands, the head of research of the JLL company Olesya Dzyuba:olesya Dzyuba the head of research of the Jones Lang LaSalle Incorporated company "To some extent considers there can be a dilution of brands for a trend very fashionable recently — democratization. To say that it will be a mass outcome of luxury brands hardly cost. Most likely, there will be some small dilution. It is still passable street with good positions". According to some versions, luxury brands from Stoleshnikov can move to GUM, Central Department Store or to "Seasons". This trend has amplified with introduction of the paid parking in the center of Moscow. Owners of shops attract target traffic, guarantee the competent neighbourhood of brands and conduct uniform price policy. Dob
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