Dior j’adores Beverly Hills: luxury retailer plans new digs

LVMH cannot get enough of Rodeo Drive.

The Paris-based fashion and luxury house is planning to build a three-story Dior store with a restaurant to replace its existing men’s store at 319 North Rodeo Drive, according to documents filed with the city of Beverly Hills in October. LVMH owns a 50 percent controlling stake in Dior.

Dior is planning to demolish and excavate the existing 16,000-square-foot store and build a 47,900-square-foot structure, complete with underground parking. Each floor will have an outdoor courtyard.

LVMH has been busy along Rodeo Drive in recent months. In December, the firm bought the former 86-key Luxe hotel at 360 North Rodeo Drive for $200 million. Further down the famed street, the firm is developing a nine-story Cheval Blanc hotel at the former Brooks Brothers building.

LVMH bought the Dior store at 319 North Rodeo Drive for $85 million in 2012, records show. It also leases a space next door, at 315 North Rodeo Drive, for its women’s store, with an option to purchase that property.

The plans for the new Dior store also feature extensive outdoor dining — a trend borne out of necessity for restaurants during the pandemic, given indoor dining restrictions. Dior is planning to have 14 outdoor tables with a total of 46 chairs across 1,440 square feet of space.

The retailer already has a rooftop restaurant in Miami, located above the women’s store in the city’s design district.

Dior’s new plans come amid a slow time for Rodeo Drive, which has seen some stores exit the iconic street amid the pandemic. The trend could be shifting – the personal luxury goods market sharply rebounded in 2021, growing 29 percent to $317.9 billion in 2021, a 29 percent increase compared to 2020, according to Bain.

Dior recorded revenue of €64 million ($71.9 billion) in 2021 — a 44 percent increase compared to 2020 and up 20 percent from its 2020 revenue, according to a January financial report.