LVMH is preparing to break ground on one of the most architecturally ambitious retail projects in the history of Rodeo Drive. Louis Vuitton’s new flagship at 468 North Rodeo Drive — a 100,000-square-foot complex designed by Frank Gehry — is projected to begin a 44-month construction cycle in the second half of 2026, with a targeted completion date of June 2029. The project, which received unanimous approval from the Beverly Hills Planning Commission, represents the largest single retail investment in the corridor’s history.
Gehry’s design calls for two white metal-clad buildings — abstract forms that echo the sculptural language of his Walt Disney Concert Hall two miles southeast on Grand Avenue — connected by tunnels and pedestrian bridges. The complex will house 45,433 square feet of retail on the Rodeo Drive-facing structure, including a rooftop terrace, plus a museum exhibition space, a restaurant, and dedicated VIP shopping zones. The museum component will spotlight Louis Vuitton’s history as a cultural institution, managed by reservation with a maximum of 1,500 admissions per day Monday through Saturday. Gruen Associates serves as architect of record; Peter Marino will design the interiors.
The project sits within a broader LVMH repositioning of Rodeo Drive that has now exceeded $900 million in committed real estate. Tiffany & Co. began demolition of its existing 360 North Rodeo location earlier this spring, making way for a three-story, 30,468-square-foot flagship targeting a June 2028 delivery. Louis Vuitton, which already operates a boutique on the block, is effectively replacing a scrapped Cheval Blanc hotel project with a purpose-built monument to the brand’s retail and cultural ambitions.
The scale of the Louis Vuitton project — 100,000 square feet, a museum, a restaurant, and a rooftop — exceeds anything currently operating on Rodeo Drive. The nearest comparable is the Hermès store at 338 North Rodeo, which opened following a $400 million renovation and spans 25,000 square feet, double the footprint of its predecessor. Louis Vuitton’s concept is four times that scale.
The economic logic is straightforward: Rodeo Drive captures a disproportionate share of the national luxury spend from a concentrated base of ultra-high-net-worth shoppers, and LVMH is betting that experiential retail — museum programming, chef-driven dining, VIP access tiers — converts the corridor from a transactional shopping street into a destination with the cultural gravity of Bond Street or the Place Vendôme. The appointment-only museum model mirrors strategies the group has tested at Louis Vuitton’s Paris foundation and at its Fondaco dei Tedeschi retail complex in Venice.
For the Beverly Hills luxury ecosystem, the Gehry flagship’s 44-month construction timeline means the corridor will operate under active construction through mid-2029 — a constraint that will affect retail foot traffic and parking on the block. But the 2029 opening is already being modeled by regional real estate brokers as a catalyst for the north Rodeo micro-market, much as the Hermès renovation recalibrated rents on its block. Brands adjacent to 468 North Rodeo will face both disruption and a long-term appreciation premium.
LVMH has not released a budget figure for the Louis Vuitton project, but industry analysts tracking Rodeo Drive commercial comps have estimated total project cost — land, demolition, construction, interiors, and museum buildout — in the range of $500–700 million, which would make it one of the most expensive single-brand retail constructions ever undertaken in the United States.
From the Borro desk: For a national read on how the May 2026 auction calendar is shaping asset values across luxury classes, see Behind the Marquee: How the May 2026 Auction Calendar Actually Works.
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