99 Cents Only Stores Looking To Set Up Shop On Rodeo Drive

99 Cent Only Stores would love to set up shop on Rodeo Drive, requesting that anyone with information regarding potential retail space to drop them a message. According to the Los Angeles Business Journal, the company is dead serious about getting their stores into one of the most coveted retail spaces in California. CEO Eric Schiffer explained that his shops appeal to anyone, rich or poor, who is looking for a good deal.

Unfortunately for the 99 Cents Only chain, the Rodeo Drive Committee doesn’t believe the company will be able to set up shop in the area anytime soon. “Based upon some of the highest commercial retail rents in the world and the fact that Rodeo Drive is experiencing the street’s highest occupancy in recent memory, it is highly unlikely that a 99 Cents store will ever open on the street. The company issued a similar statement 10 years ago, and the announcement never came to fruition,” the organization said in regards to the request.

According to the Sacramento Bee, the 99 Cents Only Stores have 222 locations in California, which means an establishment on Rodeo Drive isn’t too far fetched. “We are confident a Rodeo Drive store will be successful because our stores do well in affluent areas,” Schiffer said. “In fact, our highest sales volume store is located only a few blocks from Beverly Hills on Wilshire Boulevard.”

99 Cents Only described itself as a company that “emphasized quality name-brand consumables, priced at an excellent value, in convenient, attractively merchandised stores.” Although the company is known for selling a number of cheaply-priced items, the retailer makes the majority of its money through the sale of fruits, vegetables, dairy, deli, and frozen foods. Additionally, the wallet-friendly retailer has had quite a bit of success with organic and gourmet foods.

Do you think Rodeo Drive would be a good location for 99 Cents Only Stores to set up shop?