Posted: Friday, July 15, 2016 – 9:22 AM
Longtime Rodeo Drive staple Bijan has been sold, L.A. Business Journal and Women’s Wear Daily both reported late Thursday.
The trademark yellow by-appointment-only store sold for at least $67 million, according to the L.A. Business Journal.
Bryan Ley of Holliday Fenoglio Fowler told LABJ that the Bijan deal tops Chanel’s sale last year, which went for $152 million – $13,217 per square foot.
At 5,000 square feet, that would put Bijan’s sale at least at $67 million.
Bijan, long known as one of the most expensive stores in the world, has sold menswear out of its Rodeo Drive shop for about 40 years.
WWD reported that Bijan is expected to remain on the property.