Tenant shuffling on north Beverly Drive will make way for the opening of a Chanel Fragrance & Beauty Boutique, the first of the concept in Beverly Hills.
The Parisian luxury house’s storefront is said to be moving into the space currently occupied by Club Monaco at the corner of Beverly Drive and Brighton Way. The news comes as Chanel also readies to open a door in Montecito at Rick Caruso’s Rosewood Miramar Beach.
The Beverly Hills door will tout Chanel’s beauty products at the front of the house and will also offer an atelier for customizations or repairs, according to industry sources. The location has subterranean parking, which will come in handy for shoppers and VIPs to the store.
Meanwhile, those same sources said Club Monaco will vacate its space for Chanel and move across the street in what currently houses its sister brand Intermix.
Beverly Hills private equity firm Regent LP owns Club Monaco, Escada, Sassoon and Intermix among other apparel labels and media companies. It added Intermix into its fold in 2023, when it officially closed on the purchase from Palo Alto private equity firm Altamont Capital Partners.
That Chanel, which has a massive footprint one street over on Rodeo Drive, chose to open shop on Beverly Drive speaks to the street’s continued boom in activity.
The major arterial is home to several trendy brands and retailers and has seen a wave of newcomers in more recent years that are defining a new generation of Beverly Hills high street shopping. The boom in activity has led real estate agents to call Beverly the “new Rodeo Drive.”
Among the tenants that have joined the mix in the past roughly five years are Los Angeles boutique retailer Kitson, upscale grocery and wellness retailer Erewhon, Erin and Sara Foster’s Favorite Daughter and women’s brand Reformation.
Chanel made waves in Beverly Hills about a decade ago when it paid $152 million for the 11,500-square-foot space at 400 N. Rodeo Drive. The purchase price set a new record for Southern California retail real estate on a price-per-square-foot basis.
The deal also bridged the luxury house’s existing footprint, where it owned the adjacent parcel on Rodeo Drive, and allowed Chanel to construct a flagship on the famed shopping street. At 30,000 square feet and four stories, the boutique became the company’s largest in the U.S. when it was unveiled in 2023.
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