Third Lindt store opened in Budapest with JLL tenant representation
JLL closed a successful tenant representation transaction on behalf of the chocolate manufacturer Lindt&Sprüngli, this time choosing Arena Mall as its third store location.
After Allee Shopping Center and Fashion Street, the next stop of the Swiss Lindt expansion in Budapest is the Aréna Mall shopping center. After the successful Hungarian market entry in 2019 it didn’t take long to open the second one in the same year and the very recent third Lindt store on 19th May. The revenues of the two stores already operating in Budapest fulfilled the expectations to the maximum, reaching outstanding results at the regional level as well which supported the further expansion plans. The newest store, located on the ground floor of the Arena Mall, in one of the central halls, providing perfect visibility, in addition the excellent tenant-mix in the immediate vicinity is also a good attraction for the new tenant. Although smaller than the usual store size, Lindt occupies just over 50 sq m, yet its interior is a real highlight seasoned with compact solutions and the latest design elements. In addition, this is the first Lindt store in CEE with the updated store design which offers an even better shopping experience and gives a unique opportunity to shop the full variety of the Lindt portfolio which includes exclusive products that can be found only in Lindt stores.
The Swiss company is one of those few businesses in this recent commercial environment that is able to stick to its expansion schedule in line with its long-term goals. They accomplish all this not only by opening “brick and mortal” stores, but by expanding their trade in multiple channels, meaning the introduction of their online platform. The official web store of the brand will be available in Hungary from the end of May, for the time being offering “click and collect”, and later their customers can order home delivery in the capital city, even in the form of assembled gift packages. According to Máté Balogh, the chocolate brand's sales director in Hungary, "our loyal customer base has provided a solid foundation for opening our third store, and in the current situation we try to respond as quickly as possible to the needs of existing and future shoppers. With the introduction of our online service we hope to reach an even wider audience in the Hungarian market."
Éva Sréter, JLL's Head of Retail said: “I am pleased to be able to start the currently relaxed restrictions in the capital by announcing the store-opening of a retail tenant represented by JLL. One of the keys to our successful cooperation with Lindt&Sprüngli is to look to the future, while also responding quickly to the specifics of domestic market conditions. Although the basic part of the preparation of the Arena Mall lease took place last year, the first quarter of 2020 brought an unprecedented event affecting the whole world, which had a significant impact not only on the new store opening, but also on the whole economic life, especially commercial trade. In this unexpected period, as a leading international real estate consultant it is a particular advantage to be able to rely on JLL’s comprehensive market research materials, from which future customer needs and international experiences about re-openings are already available. Lindt’s successful store openings to date has also confirmed that our research is an essential cornerstone in selecting the best locations. We’ll proceed further the same way with further Lindt store openings planned for 2020.”
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $18.0 billion, operations in over 80 countries and a global workforce of more than 94,000 as of March 31, 2020. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.