Beverly Hills’ Rodeo Drive is one of the most famous shopping streets in the world… so the cost for a retail space is extremely pricey.
For most brands, leasing is the only option, but French fashion house Chanel recently ponied up a record $152 million USD to buy out their space, according to WWD.
The number smashes the previous record set by LVMH Moet Hennessy Louis Vuitton, who spent $85 million USD on a 7,100 square foot space back in 2013.
Chanel is currently housed in a 11,500 sq. ft. space, which it now owns.