Chanel's $152 Million Purchase Of Three Storefront Stores Is No Longer Limited To Owners.

Chanel store located in Rodeo Drive

It is understood that Chanel bought Rodeo Drive building with us $152 million, and plans to open the world's largest flagship store. Chanel's opening shop here will help them control their fate and no longer be limited by the owners' requirements.

It is reported that more than two years ago, Chanel bought a three storehouse in Losangeles, DIO, at a price of 152 million US dollars, hoping to pform it into the same style as the existing Chanel store in Rodeo Drive.

Boutique.

The old building is located at 408 North Rodeo Drive, covering an area of about 16000 square feet (1500 square meters). However, the renovation plan was opposed by the existing Chanel shop owners in Rodeo Drive, and Chanel signed a long-term lease agreement with the owner.

"Chanel's opening shop here will help them control their own destiny and no longer be limited by the owners' regulations," said Robert Cohen, vice president of real estate brokerage firm Santa Monica office.

In order to successfully open new boutiques, Chanel bought the old stores for $152 million to remove obstacles. This is a new record of real estate in southern California.

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Located on the corner of Rodeo Drive and Brighton Road, it is adjacent to Cartire, David Yurman and so on.

Robert Cohen stressed that Rodeo Drive is only three blocks, and its size will not change. But the demand is getting bigger and bigger. It has become the largest in the world.

One, real estate prices can only get higher and higher.

The Gucci store in Rodeo Drive has been bought by Amancio Ortega, founder of Zara.

The first record breaking paction on Rodeo Drive was the purchase of $85 million by LVMH group in 2012, which is now the store of C line.

The 347 shop before Gucci was sold in early 2014. It was revealed that the buyer was the founder of Amancio Ortega Amancio Ortega bought the store at $100 million.

Robert Cohen said: "Chanel's biggest flagship store in Rodeo Drive is good news for the fashion industry. Although the current luxury market is in poor condition, the US dollar is going down.

But Chanel still attracts global attention, and investment on Rodeo Drive has a positive effect on the whole fashion industry.