Posted on 10/17/2012 1:35:21 PM PDT by DogByte6RER
If your Rodeo Drive shopping stops include Versace, Armani, Chanel and Tiffany & Co., perhaps you’d be interested in a store where you could drop a real bundle, of $1 bills that is.
The 99 Cents Only Stores chain announced that it’s searching for a retail space on Rodeo Drive in Beverly Hills, Calif., one of the toniest shopping strips in the world.
“We think our store will do well. Our highest amounts of sales are happening in our branch on Wilshire Boulevard. We know for a fact a lot of customers there are coming from Beverly Hills. This store will be here to stay. The major reason for its success will be the challenging economy which came as the final impetus to open the store,” Eric Schiffer, The 99 Cents Only Store CEO, told ABC News.
The 99 Cents Only Store is confident that opening on Rodeo Drive be a winning move. “We’ve had many success stories that are similar to this scenario. After we opened our store in West Hollywood on West Lincoln Boulevard, a Whole Foods came right next to us. As soon as it did, our business went up dramatically,” he said.
“Oh my God! How will it work in the middle of all the fancy-shmantsy?” Beverly Hills resident since 1977 Ann Garry told ABC News when she heard the news.
“If there’s a 99 Cent Only Store on Rodeo Drive, I will definitely shop there. I wouldn’t dream of shopping on Rodeo Drive. Instead of just looking at the windows I can now shop there,” said Garry.
Mikael Choukroun, manager of 208 Rodeo restaurant located on the Rodeo Drive, he is concerned about the street losing its high-class identity.
(Excerpt) Read more at abcnews.go.com ...
Now ... Beverly Hills is down and out
More coverage ...
Down and out in Beverly Hills: 99 cent store opens up on Rodeo Drive
Having lived in BH many years ago, I can tell you this is crap!. I will admit this is a great gag(publicity stunt).
A 2000 sq. ft. shop on North Rodeo rents for 40,000.00 per month. Rent in 1989 for this was 20,000 per month.
Do the math : )
I’m sure the media will celebrate this as another instance of the “new normal” in the Era of Baraq.
well, the store has raised prices from 99 cents to 99.99 cents recently, so the rent shouldn’t be a problem. : )
Beverly Hills Yellow Cab?
LOL!
yuck!
Mrs. Drysdale will not be pleased!
BTW part of #5 is true. They raised prices and tried to keep it at 99.99 so they didn’t have to go over a dollar.
My one and only time visiting I was surprised at the number of not so great stores there.
Awesome! Rodeo Drive is so underwhelming as it is. I hope they can find space there.
In suburban Las Vegas, where I spent the last 30 months; it’s a semi depression. The only retail growth is in Dollar, Big Lots, and Goodwill. Often these stores are the anchors of strip malls. Other growth: check cashing and pawn shops.
Typically, 20% of retail is vacant. Targets are empty relative to Walmarts. Because of the frequent winds, litter blows around.
Next,a homeless shelter and a heroin rehab facility.BWAHAHAHA!
The Dollar store near me went out of business. (Dollar Tree). They actually had a going out of business sale, but I didn’t go. What would the prices be marked down to?
I guess they’ll have to bring back the five & dime stores.
Sort of like the chickens coming home to roost.
Ping
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.