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Swiss chocolate manufacturer and global leader in the premium segment, Lindt & Sprüngli is extending its store chain in Central Eastern Europe to Hungary with the contribution of JLL. The planned retail store will be about 100-150 square meters in Budapest downtown.
The popularity of premium quality Lindt chocolate, from Switzerland, the chocolate superpower, has been growing steadily since the 1800s and will soon open its first self-operated retail store in Hungary. As part of Lindt's regional strategy to improve the brand's presence in the Hungarian market regional decision makers decided to open the first Lindt store in Budapest.
The client, with more than 400 stores worldwide, operates with three retail concepts depending on the location: Outlet, Boutique or Café. The appropriate business form will be selected from the latter two types in the city center of Budapest. Among the concepts, it is worth highlighting the Boutique business model, despite having the fewest so far, yet the most dynamically growing type of shop.
There are several reasons for Lindt's expansion in Hungary, on one hand, there are still few competitors in the premium chocolate sector in Budapest, on the other hand consumer confidence, living standards and the income from tourism is constantly increasing, which means that Budapest became ready for premium brands again. The Hungarian Sales Director of Lindt, Máté Balogh said that "the decision is part of the company's expansion strategy, and fortunately premium services and products have regained their position in the Central and Eastern European region after the crises. Timing could not be more ideal for opening a store, and we hope to find it with JLL's advisers in a short time."
Éva Sréter, head of JLL's retail department, added: "We are very pleased to represent Lindt, it is always an exceptional task to be part in the introduction of a world-known brand's first launch in the local market. Lindt is well-known for representing a constant, high-class quality, therefore they are a reliable prospective tenant for the long-term, like the one every property owner is looking for. I'm confident that our market knowledge and client network will enable Lindt to make its full product range available by the end of the year in an exclusive, downtown store." According to JLL's consultant "considering the current market environment, the domestic retail market provides positive potentials for development opportunities to our client, so opening a number of stores can follow its first successful launch."