99 Cents Only Store On Rodeo Drive
Posted by Michael Lambrose on Oct 16, 2012 - 1:03:26 PM
BEVERLY HILLS—On October 9, retail giant 99 Cents Only Store announced that they would begin searching for a possible Rodeo Drive location that would serve as the company’s flagship store.
In a press release, Eric Schiffer, CEO of the company, stated that he is confident in the potential location because the company’s Wilshire location, which is only a few blocks away, reports the highest volume of sales for the company.
However, 99 Cents Only Store’s plan is facing significant opposition.In an interview given to KPCC’s Larry Mantle, the Vice Chair of the Beverly Hills Planning Commission Brian Rosenstein labeled the plan a “publicity stunt” and continued to question if there would even be a landlord willing to rent a space to a 99 Cent Only Store over companies like Dior and Prada.Rosenstein, however, did state that there are many locations within Beverly Hills that would be appropriate for such a store, but that the 99 Cents Only Store would challenge the “luxury and elegance” of Rodeo Drive.
In an email to Canyon News, the 99 Cent Only Store’s President and COO Jeff Gold countered some of these concerns.Gold states that the company has locations in areas similar to Rodeo Drive.For example, the company recently opened a store on Santa Barbara’s State Street which was aesthetically appropriate and in close proximity to Saks Fifth Avenue.Gold continued, stating that a location on Rodeo Drive would benefit surrounding stores because its diverse clientele would attract more consumer traffic.Gold argues that having such a store would accommodate both the “ultra-high income” and “the 99%” and would allow all the residents of Beverly Hills to save money on common household items.
Serving Bel Air, Benedict Canyon, Beverly Hills. Brentwood, Laurel Canyon, Los Feliz, Malibu, Pacific Palisades, Melrose, Santa Monica, Sherman Oaks, Studio City, Topanga, Canyon, Westwood & Hollywood Hills.