BEVERLY HILLS—LVMH Moët Hennessy, the parent company for brands such as Louis Vuitton, Hennessey and Christian Dior, will be expanding their storefronts throughout Beverly Hills after purchasing around 6,000 square feet of property at 449-453 N. Beverly Drive in June.
According to reports, the land was purchased for $30 million by the luxury goods company from B & A Management Corp. The storefront was vacant before the purchase was made.
The transaction comes in addition to the properties LVMH purchased years prior on the corner of Rodeo Drive and Santa Monica Boulevard, adjacent to their recently purchased plot of land. The company first purchased $122 million worth of property in 2016 and followed that up by dropping a combined $360 million in two separate deals for nearby properties in 2018.
A luxury hotel is in the process of being developed by LVMH in the location, with all the lots in the area expected to connect to the hotel in some way. The project will offer ground-level dining and retail establishments. Rooftop pools, a private club and expansive penthouse spaces will also be featured in the project.
The hotel, restaurant and retail project is expected to open its doors in 2025. The hotel would be under the Cheval Blanc name, a chain of five luxury hotels owned by LVMH that are located in locations such as Paris and St. Tropez, France.
