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After voters rejected plans for a super-high-end Cheval Blanc hotel on Rodeo Drive in Beverly Hills, Calif., luxury retail giant LVMH is reportedly reverting to what it does best.
Bernard Arnault’s mega-conglomerate now plans to create a massive new Louis Vuitton flagship store at the site along one of the nation’s most prestigious retail strips. Women’s Wear Daily first reported LVMH has commissioned architectural renderings for the more than 50,000-square-foot property at 468 Rodeo Drive, citing unnamed sources.
U.S. media representatives for LVMH did not immediately return a request for comment or additional information.
Last year, Beverly Hills voters turned down LVMH’s plans for a 109-key hotel. LVMH bought the property for $245 million in September 2018.
New retail expansion comes as Chairman and CEO Pietro Beccari plans larger and grander retail attractions for Louis Vuitton around the world, including a significantly updated flagship in the form of a large silver metal trunk on the Avenue des Champs-Élysées in Paris, according to Women’s Wear Daily.
Gregory Cornfield can be reached at gcornfield@commercialobserver.com.
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