99 Cents Store Eyes Beverly Hills

Economy and demand is ripe for setting up shop on upscale Rodeo, 99 Cents Store chief executive officer says

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    NEWSLETTERS

    The 99 Cents Only Stores put out a call recently for help.

    Anyone with information was asked to help the company find property so it could house its flagship in an exciting and lucrative location in Southern California.

    The company announced it was searching for a location on Rodeo Drive, “to bring great deals and everyday low prices to the affluent Beverly Hills.”

    Anyone with tips about available space on Rodeo was encouraged to contact its real estate department.

    "99 Cents Only Stores is excited to launch a search for prime retail space on famed Rodeo Drive in Beverly Hills," said Eric Schiffer, the company’s chief executive officer.

    Schiffer said the decision is based on customer demand. He said one of the stores that’s located a few blocks from Beverly Hills on Wilshire Boulevard has been seeing the highest sales volume of all its outlets.

    "We know many customers are driving from Beverly Hills to shop at 99, and they have been saying 'Please open a location in Beverly Hills,'" he told the Los Angeles Times.

    So far, the idea has gotten mixed reactions, with some welcoming it and others not so much.

    “I think it’s a very bad idea,” said Mikael Choukroun, the general manager of the restaurant 208 Rodeo. “We are a very special street. We are an image.”

    99 Cents Only Stores is headquartered in Commerce. It was founded in 1982 and currently operates 303 retail stores in California, Nevada, Texas and Arizona.

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