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LVMH's Bernard Arnault Buys on Rodeo; Lov Project Trunk Show

319-323 Rodeo. Photo via <a href="http://www.loopnet.com/Listing/16446416/319-N-Rodeo-Drive-Beverly-Hills-CA/">LoopNet</a>.
319-323 Rodeo. Photo via LoopNet.

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RODEO DRIVE—LVMH chief exec and billionaire Bernard Arnault has purchased a storefront on tony Rodeo Drive for a cool $85 million. The LA Business Journal reports that this is probably the most anyone has ever paid (per square foot) for a Rodeo property. There's no word yet as to what he's going to do with 319-323 N Rodeo, which is currently home to Montblanc and Celine boutiques. [LA Business Journal]

BRENTWOODLov Project is a fair-trade scarf line crafted in India by physically disabled female artisans who receive a paycheck and healthcare through the label. Shop their wares and meet the two local women behind Lov at a trunk show tomorrow at Post 26 at the Brentwood Country Mart. It's from 11 to 6pm. [Racked Inbox]