Cushman & Wakefield is happy to announce the completion of Lacoste’s relocation to a larger unit and opening their long awaited, 120 sq m, new concept store in Fashion Street, Budapest’s unique shopping street owned by Immobilia Plc.
World-wide known French brand “Lacoste”, founded in 1933, in joint venture with the Turkish EREN Holding manages 24 stores in Central Eastern Europe region, and recently did a brace of deals in CEE region by opening multiple new stores. The Lacoste brand is represented in 114 countries worldwide with more than 1,200 selling points.
Lacoste Hungary operation, opened its first store in Fashion Street in 2007 and in 2015 decided to expand to a larger unit. The new location, is the perfect retail location for this exclusive brand to represent their fashion collection on the Budapest retail market.
Viktória Szabó, Partner, Head of Retail at Cushman & Wakefield in Budapest commented on the success: “The fact that Lacoste choose to open its new flagship store in Fashion Street is a great success for the project as the brand is represented in the best locations in all core cities of the world (Champs Elysees - Paris; Knightsbridge- London etc.). We are confident that they will be highly satisfied with their new conditions which will increase the reputation of the area even further on the long term.”
László Balázs, CEO at Immobilia Plc. added: “With this new transaction we can state that Lacoste is one of the most loyal tenants of Fashion Street, as they have been represented here since the very beginning. Thanks to their devotion, the success of the project and our flexibility this deal is favorable for all parties.
Hasan Hakan Owner, CEO at CEE Lacoste mentioned: “We spent our energy and concentration on restructuring of the operation in 2015. Budapest and Fashion Street is key location to build up our vision and success story in Hungarian market. Our aim is to invest further in best locations all around the whole country."
Cushman & Wakefield is the exclusive retail leasing agent and property manager of Fashion Street since 2005.
Fashion Street development offers approximately 8,000 sq m of retail space and restaurants on Deák Square and Bécsi utca and is directly linked to Budapest’s traditional high street, Váci street and Vörösmarty square. The scheme is being developed by Hungarian developer Immobilia Plc. Key fashion tenants on the location include Massimo Dutti, Hugo Boss, Tommy Hilfiger, Lacoste, OYSHO, , Lloyd, Furla, Intimissimi and nanushka. Zara Home and Vodafone are also represented with a sales point in the area. Major restaurant chains on Fashion Street include Starbucks, Vapiano, Pizza Me, KFC and Subway. For more information please visit fashionstreet.hu.