Chanel Buys Building on Paris’ Upscale Avenue Montaigne
- Maker of No. 5 fragrance already has store in the building
- High-end brands are maneuvering to secure prime locations
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Chanel bought a building on avenue Montaigne, a high-profile shopping destination in Paris, as European luxury players swoop in to secure prime real estate for their boutiques.
The fashion label known for its tweed jackets and skirts purchased the property at 42 avenue Montaigne, about a block away from the Champs-Élysées, according to a statement, which didn’t disclose the transaction terms.