The news: French luxury label Chanel purchased a building at 42 Avenue Montaigne in Paris for an undisclosed amount, per Business of Fashion.
- Chanel already operates a boutique in the building, as well as a space at nearby 51 Avenue Montaigne.
- The location is in a prime retail district just one block from the high-profile Champs-Élysées, which was recently revamped for the 2024 Summer Olympics.
Chanel made several other major real estate buys last year in Paris, Biarritz, and London.