World's Most Expensive Store
The House of Bijan
As we head into a recession, there is one store in Beverly Hills vying for the title “most expensive store in the world.†It is The House of Bijan Boutique, located at 420 Rodeo Drive and hours are by appointment only. Mr. Bijon gained notoriety for making men's perfume. In fact, one of his perfume bottles is in a featured exhibit at the Smithsonian. Now, at The House of Bijon, inventory has diversified into a line of briefcases, luggage, jewelry, scarves, shirts, shoes, suits, ties, and watches; plus, more fragrances.
Trend Themes
1. Luxury Retail - The House of Bijan highlights the continued demand for luxury retail, even during a recession.
2. Diversification of Product Offerings - The House of Bijan's diversification of product offerings, from perfume to clothing, presents opportunities for other luxury brands to expand their reach.
3. Appointment-only Shopping - The House of Bijan's appointment-only shopping model could be a disruptive innovation for luxury retail, offering a more exclusive and personalized shopping experience.
Industry Implications
1. Luxury Fashion - The House of Bijan operates in the luxury fashion industry, which presents opportunities for other brands to innovate and differentiate themselves.
2. Perfume and Fragrance - The House of Bijan's origins in the perfume industry offer potential for innovation and disruption in the fragrance market.
3. Personalized Retail - The House of Bijan's appointment-only shopping model could be applied to other industries, such as high-end furniture or art, to offer a more personalized experience to consumers.