The French leather goods manufacturer has invested $400 million in two buildings on Rodeo Drive in the Beverly Hills neighborhood of Los Angeles. It could be planning to open a larger, more experiential flagship store than its existing boutique on this major luxury shopping street in the United States. This is where luxury brands are currently rolling out a series of spectacular projects.
While the issue of US customs duties is currently causing headaches for luxury brands, Hermès is showing its faith in the US market in the long term.
This is particularly true in the Beverly Hills neighborhood of Los Angeles, California, which is both very upscale and highly publicized for having hosted the filming of cult movies and TV series such as Pretty Woman, Beverly Hills, Beverly Hills Cop, Clueless, and Entourage.
$400 million!
According to The Wall Street Journal, Hermès has acquired two adjacent buildings located at 338 North Rodeo Drive for the astronomical sum of $400 million. The leather goods manufacturer has been present on the avenue since 1972, with its first iconic address at 434 North, which was renovated in 2013.
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Featured photo: © Hermès
