Chanel Spent €118 Million on Paris Building Near Flagship Store
The Chanel boutique on Rue Cambon, Paris.
Photographer: Marc Piasecki/Getty ImagesChanel Ltd. splurged on a property near its main boutique in Paris last year as luxury brands seek to secure prime locations for their stores.
The building, located at 23 rue Cambon — close to Chanel’s flagship boutique at No. 31 — was purchased for €118 million ($133 million) in September, according to a property database.