Headlines

Chanel Pays Over Ask for Bond Street Property

The luxury brand paid about $90 million above the listed price

Published

4 years ago

October 6, 2020

VMSD Staff

Luxury fashion retailer Chanel (Paris) paid approximately $90 million above the asking price for the property on Bond Street in London where it store is located, reports Drapers. The brand reportedly prevailed against bidders including the Abu Dhabi royal family as well as private investors from Hong Kong.

"We have put in an offer for the site, but the final transaction has not been confirmed,” said a Chanel spokesperson.

In April Chanel borrowed about $776 million from the Bank of England’s emergency coronavirus fund.

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