logo
Louis Vuitton bets big on Rodeo Drive with new Frank Gehry-designed store

Louis Vuitton bets big on Rodeo Drive with new Frank Gehry-designed store

Louis Vuitton is gearing up to go over the top again in Beverly Hills.
With plans for an ultra-opulent hotel on Rodeo Drive stymied by voters two years ago, the Paris fashion house's owners are back with a proposal for a theatrical flagship store designed by architect Frank Gehry that would anchor the north end of the famous retail corridor.
Luxury goods stores on Rodeo Drive are growing larger as top-shelf retailers increasingly up the ante to dazzle shoppers, and the vision from Louis Vuitton owner LVMH is one of the biggest stores yet with restaurants, rooftop gardens and exhibition space.
Set to open in 2029 pending city approval, the store will stretch through the block from Rodeo Drive to Beverly Drive along South Santa Monica Boulevard. It will be one continuous structure connected across an alley by two pedestrian bridges and a tunnel.
Louis Vuitton said its new store will contain 45,000 square feet on the retail side fronting on Rodeo Drive and an additional 55,000 square feet on the hospitality-focused side of the building off Beverly Drive.
'The new location will take visitors into a full Louis Vuitton lifestyle experience showcasing its diverse universes of products and one-of-a-kind client experiences,' the company said in a statement.
The retail entrance will be on Rodeo Drive, with three floors dedicated to product categories such as women's and men's collections, travel, watches and Jewelry, beauty and fragrance. A rooftop level will have private spaces for clients and a garden.
Visitors entering from Beverly Boulevard will find a cafe and exhibition lobby on the ground floor, two more floors of exhibition space and a rooftop with a restaurant and open-air terrace.
Louis Vuitton representatives declined to offer more details about the exhibitions or the building, but the brand perhaps best known for its signature monogrammed handbags and luggage also has made a reputation promoting art and culture.
In 2014 it opened the Fondation Louis Vuitton in Paris in a building designed by Gehry. The Fondation has art exhibits, concerts, dance performances and organized family activities such as art classes for children.
Gehry has also also collaborated with Louis Vuitton on a collection of handbags reflecting his architectural style, which is known for flowing, curvilinear sculptural forms.
In downtown Los Angeles, Gehry designed the Walt Disney Concert Hall, the Grand L.A. mixed-use complex across the street and the nearby Colburn School performing arts center under construction.
The interior of Luis Vuitton's Beverly Hills flagship is being designed by another well-known architect, Peter Marino, who designed the existing Louis Vuitton store on Rodeo Drive and the ill-fated Cheval Blanc Beverly Hills hotel intended for the Rodeo Drive site now selected for Louis Vuitton's new flagship.
New York-based Marino was described by Architectural Digest as 'a leading architect for the carriage trade, and the architect for fashion brands.'
Marino once said the Chevel Blanc hotel, which was approved by the city before being vetoed by voters, would improve the pedestrian experience on the northern edge of Rodeo Drive's famed shopping district, where 'people get to the end, shrug their shoulders and walk back.'
The parcels intended for the hotel and now Louis Vuitton are owned by LVMH and were formerly occupied by Brooks Bros. and the Paley Center for Media. The existing unoccupied structures will be razed to make way for the new store.
Merchants on the famous three-block stretch of Rodeo Drive constantly strive to find new ways to call attention to themselves and polish their brand's image, said real estate broker Jay Luchs of Newmark Pacific, who works on sales and leases of high-end retail properties.
'It's competitive among brands to always be the best they can be, and they're not sitting on spaces keeping them stale,' he said. 'They're all always reinventing themselves.'
The expensive changes to their stores are 'very obvious,' Luchs said. 'It's almost like an art. The street has different top designers who have made these stores spectacular one after the other.'
Even though retail rents on Rodeo Drive are some of the highest in the country, stores are also getting bigger, the property broker said.
Fifteen years ago, stores on the street were typically 25 feet wide, he said, then gradually many became 50 feet wide, he said. 'Now you're seeing stores 100 feet wide' that may have two different landlords.
A 50-foot lot is 'very big,' Luchs said, and can hold a store with 5,000 square feet on each level and may go three stories tall for a total of 15,000 square feet in the store.
The fashion house is also growing in New York, where its flagship store is being replaced with a building that will nearly double its footprint on 57th Street at 5th Avenue, the Architects Newspaper said. Construction has been concealed with a facade that looks like a giant stack of distinctive Louis Vuitton trunks.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Is Hims & Hers Health a Smart Buy Right Now?
Is Hims & Hers Health a Smart Buy Right Now?

Yahoo

timean hour ago

  • Yahoo

Is Hims & Hers Health a Smart Buy Right Now?

Hims & Hers is the newest darling disrupting the telemedicine space. While shares have jumped 157% over the last year, Wall Street analysts don't seem overly bullish on the stock. Despite impressive results in the business, Hims & Hers has a high short interest -- making a short-squeeze a possibility. 10 stocks we like better than Hims & Hers Health › When it comes to stocks that continue to beat the market, my guess is that your mind goes straight to companies leading the charge in artificial intelligence (AI). Sure, stocks such as Palantir Technologies or CoreWeave remain red-hot in a strong technology sector. But smart investors understand that there are myriad opportunities beyond the usual suspects in tech. One company that has emerged as a new favorite among investors is telemedicine business Hims & Hers Health (NYSE: HIMS). With shares up 157% over the last 12 months as of market close June 4, Hims & Hers Health looks like the next monster growth stock at the intersection of healthcare and technology. Let's assess the state of Hims & Hers' business and then take a look at what Wall Street thinks. Is buying shares of this telemedicine darling a good idea right now? Read on to find out. Hims & Hers is a telemedicine platform that offers patients access to a variety of medications, including for skin care, anxiety, sexual health, and even weight loss. At the core of the company's business model is a subscription platform. At the end of the first quarter, Hims & Hers boasted 2.4 million subscribers, which represented an increase of 38% year over year. This translated into revenue of $586 million for the quarter, up by a jaw-dropping 111% year over year. By keeping its business primarily online, Hims & Hers can benefit in a couple of ways. First, subscription revenue is recurring and therefore carries high gross margins. Second, by keeping its user base using its offerings, the company has the flexibility to spend less on marketing and invest in other areas, such as technology or research and development, in an effort to bolster customer acquisition strategies. Per management's vision, Hims & Hers is doubling down on investments in AI to get a better sense of its customer data. This could be a savvy move, as it may help the company unlock new expansion opportunities. While the ideas above paint a picture of a fast-growing, disruptive new solution in the healthcare space, Wall Street doesn't seem totally sold on Hims & Hers just yet. Over the last month, a number of equity research analysts, including Piper Sandler, Citigroup, Bank of America, and Morgan Stanley, have each maintained ratings of neutral, sell, underperform, or equal-weight. Another way of looking at this is that among some of the largest banks on Wall Street, none seem to have a compelling buy rating on Hims & Hers stock. In addition, the average price estimate among analysts for Hims & Hers stock is roughly $48, implying 12% downside from trading levels as of June 4. Given Wall Street's somewhat bearish sentiment, what could be fueling the stock's seemingly unstoppable rally? I think the company's high short interest could be the cause of the rise in its stock. Per the chart above, roughly 35% of Hims & Hers float is sold short. Investors who short a stock are betting its price will fall. Short interest of 10% or more is considered unusually high. Not only is Hims & Hers' short interest much higher than the usual benchmarks, it's also rising. A high short interest can fuel volatility and even a rise in a stock's price if investors who are shorting a stock need to buy shares in the company to return the borrowed shares and close out their position. This is known as short covering, and it often leads to pronounced increases in a stock for a fleeting period of time, adding to volatility. You might be more familiar with these dynamics as a short squeeze. Despite notable subscriber growth and expanding markets, Hims & Hers stock exhibits too much volatility for my liking, and with that, comes a high degree of uncertainty. At first glance, I can understand what makes Hims & Hers look like an appealing investment. Telemedicine represents a compelling opportunity at the intersection of healthcare and technology, and Hims & Hers has certainly proven that it can consistently acquire users and monetize them. Moreover, the prospects that AI presents in the healthcare space more broadly shouldn't be discounted -- further validating the vision management has for Hims & Hers' long-term growth. Nevertheless, I struggle to look past the meme stock type of behavior exhibited here. While some investors have certainly made money owning this stock, I am suspicious if their profits were sparked by the right reasons. Said differently, I view Hims & Hers as more of a swing trading stock (timing is everything) as opposed to a sound long-term opportunity at this time. For these reasons, I would pass on Hims & Hers at the moment. While I'm intrigued by the company's potential, I think shares have run up considerably and would not be surprised to see some contraction in the share price sooner than later. Before you buy stock in Hims & Hers Health, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Hims & Hers Health wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $669,517!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $868,615!* Now, it's worth noting Stock Advisor's total average return is 792% — a market-crushing outperformance compared to 171% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of June 2, 2025 Bank of America is an advertising partner of Motley Fool Money. Citigroup is an advertising partner of Motley Fool Money. Adam Spatacco has positions in Palantir Technologies. The Motley Fool has positions in and recommends Bank of America, CrowdStrike, Hims & Hers Health, and Palantir Technologies. The Motley Fool has a disclosure policy. Is Hims & Hers Health a Smart Buy Right Now? was originally published by The Motley Fool Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

100 dairy farms in New York get over $21 million from state
100 dairy farms in New York get over $21 million from state

Yahoo

timean hour ago

  • Yahoo

100 dairy farms in New York get over $21 million from state

New York state is pushing more than $21 million in grant money out to over 100 dairy farms statewide, part of a long-term push to enhance and expand the state's upstate milk and milk product industry. On Monday, at Glory Days dairy farm in Lowville, state Agriculture Commissioner Richard A. Ball announced the funding through the state Dairy Modernization Grant program as the state kicked off June Dairy Month. 'New York's dairy industry is the backbone of our agricultural economy, supporting thousands of jobs across our rural communities,' said Gov. Kathleen C. Hochul. The Governor had successfully pushed for this program in budget negotiations last year. 'With this $21.6 million investment through the Dairy Modernization Grant Program, we're giving hardworking dairy farmers and cooperatives the tools they need to grow, innovate and lead in a changing market. This is how we honor our agricultural legacy — by making sure it has a strong and sustainable future,' Hochul said. Across the North Country, 15 farms will get a combined $3.3 million in state grant money — in Central New York will get more than $3.9 million, and in the Finger Lakes, 20 farms are getting more than $4.3 million. The money can be used for projects on dairy farms to expand or improve storage, improve transportation and strengthen operations — it helps farmers buy newer, more efficient equipment and is run with an eye towards increasing environmental protection, efficiency and farm operation health. The program requires that each grant-funded project demonstrate a path towards expanding storage, increasing energy efficiency, improving food safety, saving work hours, decreasing raw milk dumping or making the farm more resilient economically. Each project must achieve at least two of those listed goals. 'The Dairy Modernization Grant Program gives farms like ours the opportunity to progress and innovate and continue being the lifeblood of our communities,' said Amy Beyer, owner of Glory Days Farm. 'This program encourages the adoption of efficient technology that improves food safety with more consideration to environmental impacts, securing the future of dairy in New York.' This new grant program is authorized for another $10 million round in 2026 — and Hochul indicated that further funding will be headed to the dairy industry for research and climate-resiliency work in the future. 'Our dairy farmers and processors are second to none when it comes to the care they give to the land and their animals and the quality of their milk products,' said Ball, the state Agriculture Commissioner. 'I am so pleased to see this funding being awarded to these deserving farms, who will now have the additional resources they need to ensure that they can continue to provide the very best milk and dairy products, and keep operations and the supply chain going, even in the event of severe weather or emergency events.' This grant funding comes as the New York dairy industry sees major investments in plants and farms across the state. In April, Gov. Hochul and regional lawmakers attended the groundbreaking of a new, $1.2 billion Chobani company plant in Oneida County, which will become the largest single-site natural food processing center in the country and increase fluid milk demand by multiple billions of pounds per year. New York has already pumped $23 million into that project alone, with another $73 million in tax credits for job creation set aside once the facility starts hiring. A handful of other major projects, including a Fairlife milk processing plant in western New York, a $30 million expansion of the Agri-Mark cheese facility in Chateaugay, Franklin County, a $150 million Cayuga Marketing milk plant in Auburn, a $621 million cheese plant in Franklinville, Cattaraugus County, are expected to increase demand for milk in New York by more than 35% by 2030. New York already has nearly 300 processing facilities for milk and milk products, served with more than 16 billion pounds of milk per year from over 3,000 dairy farms, over 95% of which are family-owned and operated.

Newsmax Stock Is Set to Join the U.S. Small-Cap Russell 2000 Index in Less Than a Month. Time to Buy?
Newsmax Stock Is Set to Join the U.S. Small-Cap Russell 2000 Index in Less Than a Month. Time to Buy?

Yahoo

time2 hours ago

  • Yahoo

Newsmax Stock Is Set to Join the U.S. Small-Cap Russell 2000 Index in Less Than a Month. Time to Buy?

Newsmax stock has steadily declined since a brief surge after its IPO. The stock trades at a premium valuation. It's delivering solid growth, but traditional media has been a challenging industry for investors. 10 stocks we like better than Newsmax › Newsmax (NYSE: NMAX) has only been a publicly traded company for a couple of months, but it's stuffed a lot of excitement into a short period of time. After pricing its shares at $10 on March 31, the stock skyrocketed to $233 over a two-day trading frenzy before plunging back down to earth. A limited float, high demand, interest in a conservative media brand, and the meme stock effect all combined to send the stock briefly soaring. Since then, Newsmax has gradually declined, closing at $18.09 a share on June 4, though that's still up more than 80% from its IPO price. However, Newsmax shareholders did get some good news recently. The stock is set to join the small-cap Russell 2000 index at the end of the month, meaning that exchange-traded funds (ETFs) that track the index will have to buy shares of Newsmax, which should help boost the stock price. With Newsmax getting some recognition from the best-known small-cap index, it's a good time to ask if the stock is worth buying. Here's what you need to know about Newsmax. IPOs for traditional media companies aren't particularly common in the current era, but Newsmax seemed to see an opportunity to capitalize on interest in conservative media brands in the wake of President Donald Trump's election, and it has so far paid off. In addition to the core broadcasting business, which includes two linear cable channels and a streaming channel, Newsmax also has a digital business, Humanix Publishing, that includes a print and e-book publishing house; Medix Health, which sells 22 nutraceutical products aimed at Newsmax's demographic; an advertising and media strategy business; and an insurance agency, Crown Atlantic Insurance, that primarily sells life insurance and retirement solutions like annuities. As a business, Newsmax's growth has been surprisingly strong; total revenue rose 26% last year to $171 million. Advertising revenue, which makes up the majority of its revenue, was essentially flat, but revenue from affiliate fees surged due to new contractual relationships that began in late 2023. On an adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) basis, it flipped a $10.4 million loss in 2023 to a $10.3 million profit in 2024, due to strong performance in the broadcasting division. Newsmax is now the fourth-highest-rated cable news channel in the U.S., and had 33.6 million viewers in the first quarter. Revenue rose 12% in the first quarter to $45.3 million. Newsmax aims to grow in a number of ways, including expanding the Newsmax audience, growing its premium content to build its subscription business, and expanding its television and digital offerings. Even with some impressive audience growth numbers, including a 50% jump in viewers in the first quarter, traditional television media is a tough sell in this day and age, and Newsmax seems destined to fight an uphill battle even if the political climate remains favorable. For example, viewership could have jumped in the first quarter due to the inauguration or interest in Trump. Investors shouldn't assume that that growth rate is sustainable over the long term. The company's lack of a generally accepted accounting principles (GAAP) profit is also concerning; it lost $72.2 million last year, though that was due in part to a one-time net costs increase of $53 million related to legal fees for the settlement of the Smartmatic lawsuit. In the first quarter, it lost $17.2 million. Additionally, the timing of the IPO, when there was considerable interest in Trump and related businesses, won't help the business over the long term. Overall, Newsmax could be successful despite the larger media industry headwinds, but the stock isn't even an attractive value right now, trading at a price-to-sales ratio of 14. At a better valuation and with a GAAP profit, Newsmax might be worth taking a small position in. While gaining admission into the Russell 2000 is a step in the right direction, it's not enough to make the stock a buy. Before you buy stock in Newsmax, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Newsmax wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $669,517!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $868,615!* Now, it's worth noting Stock Advisor's total average return is 792% — a market-crushing outperformance compared to 171% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of June 2, 2025 Jeremy Bowman has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. Newsmax Stock Is Set to Join the U.S. Small-Cap Russell 2000 Index in Less Than a Month. Time to Buy? was originally published by The Motley Fool

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store