Site of First De Beers/LVMH Store Selected

December 13, 2001

Site of First De Beers/LVMH Store Selected

A property agent for De Beers secured 45 Old Bond St. in London's high-end Mayfair section as the site for its first retail store, reports British newspaper The Guardian. The joint venture, with LVMH Met Hennessey Louis Vuitton, is headquartered in London.

The new location is close to the Ritz Hotel and the Burlington Arcade, one of London's most prestigious shopping districts. It's also near many designer stores, such as Gucci, Cartier, Versace, Montblanc and Prada.

An LVMH spokesman says the new venture was on track with its plans, despite fallout from the Sept. 11 disasters. The newspaper also reported agreements in principle had been reached for stores in New York City, Paris and Madrid.

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