Lindt plans to open a second retail unit in downtown Budapest with JLL as its tenant representative, assisting the chocolatier Lindt & Sprüngli in the contract negotiation in the new downtown location, which will soon open on Fashion Street.
The expansion of Lindt to Pest comes hot on the heels of the opening of the Swiss brandʼs first shop in the Allee Shopping Center on the Buda side, according to a press release sent to the Budapest Business Journal. The Fashion Street venue is a deservedly popular shopping area for tourists, it notes, currently strongest in fashion stores, where Lindt will offer its delicacies on roughly 100 square meters of retail space.
JLL’s retail leasing department has been helping Lindt as its tenant representation advisor since its initial entry to the Hungarian market.
“Due to the current saturation of the retail market, the availability of premium locations is limited, especially if we consider the more risk-averse outlook of the new entrants/brands to the market,” says Éva Sréter, Head of Retail at JLL. “For Lindt, therefore, the Fashion Street location with its current client base, as well as the existing tenant mix, all mitigate the aforementioned risk.”
Sréter notes that in the successful closing of the transaction, an additional perk has been the fame of the Lindt brand name, which carries such positive recognition that landlords are eager to welcome it to their tenant portfolio.
The first Lindt location on the ground floor of the Allee Shopping Center is operating as a brand store. The boutique concept has proven popular, hence an identical layout will be followed for the new Pest store.
“Based on the reputation attained in the Hungarian market so far, we are highly optimistic about the success of this second venture,” says Máté Balogh, the Hungarian sales director of Lindt. “The historic backdrop of the inner city harmonizes well with the cherished traditions of our brand and simultaneously allows a great opportunity to reach the city’s non-Hungarian visitors.”