Residents of Beverly Hills, California have squashed LVMH’s plans to establish a Cheval Blanc Hotel on Rodeo Drive. The conglomerate purchased 468 N. Rodeo Drive in 2018, intending to develop the luxurious and exclusive destination. Beyond the $245 million price for the property, LVMH spent three years developing plans, studies, and analyses to receive City Council approval. Which it did. And all was in order until . . .
Locals and unions banded together to oppose the project After gathering sufficient petition signatures, a special election was held, and LVMH lost. Narrowly.
According to LVMH reps, it will not attempt to resurrect the project. Nevertheless, LVMH’s presence on Rodeo Drive remains strong. Many of its brands – including Louis Vuitton, Dior, Tiffany & Co, Fendi, and Celine – house boutiques on the famed street.
Read: Is LVMH Trying to Take Over Rodeo Drive
- Maura Carlin posted 1 year ago
- last edited 1 year ago
