Chanel Eyes NYC Fifth Avenue Tower That LVMH Is Also Targeting
- Battle among luxury retailers for key buildings is heating up
- Prada, Gucci owner have recently bought properties in NYC
Photographer: Erin Lefevre/NurPhoto/Getty Images
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Chanel Ltd. is in talks to purchase a building on Manhattan’s Fifth Avenue, joining the competition among the world’s top retailers to snap up spots on New York’s iconic luxury shopping corridor.
Chanel is in discussions to buy 745 Fifth Ave., according to a person familiar with the matter. The brand is competing against LVMH Moët Hennessy Louis Vuitton SE, which has also been in talks to acquire the building at the corner of 58th Street, the person said, asking not to be named citing private information.