THE WHAT? Chanel is rumored to be spending some US$4,000 per square foot to fit out its new flagship store in Miami’s Design District. A report published in The Real Deal quoting anonymous sources revealed that the French luxury label is investing some US$40 million in the project.
THE DETAILS The store will be located opposite Gucci on 41st Street and has been designed by architect Peter Marino. The opening is slated to take place during Art Basel.
THE WHY? The French fashion house is not known for doing anything by halves and will also be affected by the rising costs of both labor and materials as worldwide supply chain issues hit construction projects.
