Photo by Jeff Greenberg/AGE Fotostock.
RETAIL
Céline Takes a Bow on Rodeo
French fashion house Céline opened a boutique at 319 N. Rodeo Drive in Beverly Hills, adjacent to a Mont Blanc boutique.
The soft opening for the highly anticipated store leaves Rodeo Drive with under four vacancies on the iconic fashion retail street, said Jay Luchs, executive vice president for the Los Angeles offices of global real estate company Newmark Grubb Knight Frank.
“It’s very tight,” Luchs said. “There’s not a lot of space.” Among the few spaces in play will be 469 N. Rodeo Drive. Saint Laurent Paris is currently using the space as a temporary address while it renovates its boutique at 326 N. Rodeo Drive. Saint Laurent Paris is scheduled to return to its permanent address in 18 months.
Also this summer, a Tori Burch boutique is scheduled to take a bow on Rodeo.
Last year, Luchs handled an $85 million sale of the building at 319–323 N. Rodeo Drive, where Céline recently opened its store.LVMH Moët Hennessy Louis Vuitton SA acquired the building.
