EPG Group has begun the reconstruction of Varyada, the 21,000 sqm shopping mall it owns in Karlovy Vary. This is no mere facelift. Varyada was a huge change for local residents when it opened back in 2005. Among others, its completion in 2005 meant they didn’t have to drive all the way to Pilsen to find fashion shopping. But shopping habits and trends have changed a lot over the past 20 years, making a radical re-think necessary.
The most basic change to the mall is that it will become roughly one-third bigger. The ‘new’ 33,000 sqm center should be able to expand its catchment area, which currently brings in 3 million customers annually. But EPG is convinced it will also be a more attractive destination for current visitors. “Customers will buy more in the new Varyada and more often,” says Martin Malý of EPG Global Property Invest. “The goal is to bring the sort of brands to this region that customers currently have to go to Prague or Pilsen to buy.”