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The French luxury fashion label is allegedly in talks to buy its flagship London store from landlords for about US$402 million, 30% above asking price.
Until now, Chanel has rented the store located in London’s Bond Street, known for its luxurious boutiques and considered the world’s third most expensive street to own a business on. The French company has allegedly competed with a range of overseas investors to secure the deal. Spanning over three floors, the store was the world's largest Chanel boutique when it opened in 2013. Swedish pension fund SEB is selling the property through advisory firm JLL.
Source: Business Insider