Chanel Agrees To Record Amount For Retail Space On Bond Street

The Financial Times recently reported that Chanel broke records in securing a 25 year lease for retail space and a building on London's famous Bond Street. A popular location for luxury retail, the record price seems to defy angst that the luxury industry is quite painfully hurting. While that is true, the negative effect hasn't been the same for all brands. Chanel's popularity has been high, as well as the sales of its signature J12 watches, and other luxury goods.

Located in London's West End, the new retail space is due to be a flagship store for the luxury brand. While I am not clear on all the facts, it appears as though Chanel paid 4 million British Pounds in cast to rent the store, along with possible other costs as well. Not only is the amount incredible, but the price given the size of the property is also outstanding. The space was previously occupied by Nicole Fahri - which was apparently paid millions by the landlord to surrender their lease so that Chanel could take over.