Those who have dreamed of shopping on Rodeo Drive but never had anything to their name other than loose change can now rejoice, as The 99 Cents Only Stores chain, which only sells items costing under $1, has announced they are opening a store on the famed street in Beverly Hills.
“We think our store will do well,” said CEO Eric Schiffer. “Our highest amounts of sales are happening in our branch on Wilshire Boulevard. And e know for a fact a lot of customers there are coming from Beverly Hills.
“This store will be here to stay. The major reason for its success will be the challenging economy which came as the final impetus to open the store,”
The 99 Cents Only Store is confident that opening on Rodeo Drive be a winning move.
“We’ve had many success stories that are similar to this scenario. After we opened our store in West Hollywood on West Lincoln Boulevard, a Whole Foods came right next to us. As soon as it did, our business went up dramatically,” he said.
Not everyone is as confident as Schiffer, however.
“Oh my God! How will it work in the middle of all the fancy-shmantsy?” longtime Beverly Hills resident Ann Garry asked.
“If there’s a 99 Cent Only Store on Rodeo Drive, I will definitely shop there. I wouldn’t dream of shopping on Rodeo Drive. Instead of just looking at the windows I can now shop there,” said Garry.
One Rodeo Drive restaurant owner, who worked in Paris and saw Les Champs Elysees change after McDonald’s moved to the neighborhood, has concerns.
“Hearing news of The 99 Cents Store opening is very disappointing. After McDonalds and similar places opened many of the high-end brands left Les Champs Elysees and it’s now full of cheap stores. I can see this happening to Rodeo Drive if they start opening such stores,” said 208 Rodeo restaurant owner Mikael Choukroun.
The store aims to provide basic needs for local residents and tourists alike while they shop on Rodeo Drive.
The chain operates over 300 different locations in California, Nevada, Arizona, and Texas.
Jordan Shepherd | Elite.