In comparison to other European countries, such as France, the UK and Germany, Poland has far fewer highly affluent consumers. Even though the economy continues to grow and the purchasing power of the middle classes is rising rapidly, the ranks of the super-wealthy targeted by luxury brands remain somewhat small. Indeed, they are so thin on the ground that there’s little reason for the big fashion houses to open flagship stores here. Nonetheless, the market for premium brands is showing signs of growth
The most prestigious stores in Warsaw can be found in one of two locations. One is around pl. Trzech Krzyży, where a Bvlgari boutique recently opened offering luxury accessories and jewellery. This area includes ul. Mysia, ul. Mokotowska and the Vitkac department store, where Louis Vuitton has a boutique. The others are around pl. Piłsudskiego, which includes the Metropolitan building and one of the city’s most exclusive hotels, Raffles. This building houses Hermes and Brunello Cucinelii stores as well as an Aston Martin showroom. Most luxury brands in Poland operate on a franchise basis or with a partnering store. Top-shelf goods are, of course, available but only with a limited range – and even though the appetite for luxury brands in Warsaw is growing, we are still going to have to wait a while before they appear.
Still too early for Chanel and Prada
For the moment, there’s no economic justification for opening a flagship store for a premium brand. Again, no
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