By Tom Ferns

In a show of confidence for retail in London, Chanel were the final contenders for the flagship store seeing off investors from Hong Kong, Europe and America.

With a purchase price that exceeded ₤70 million over the ₤240 million asking price, Chanel showcased its brand success even in these challenging times.

Touted as one of Chanel’s largest spaces worldwide, the store flaunts three floors covering fashion, beauty and accessories.

The acquisition highlights Chanel’s success despite the high street reporting a fall in sales and shoppers following lockdown measures.

As a UK based business, Channel reinforces its glamorous presence in the fashion capital of the world.