US: Gucci? A Wig Shop? Unprosecuted Crime, Economic Woes Turn Beverly Hills Into Ghost Town – Gulf Insider

Residents of the upscale Southern California enclave of Beverly Hills are getting what they voted for after a spate of looting has turned the liberal utopia into a virtual ghost town amid a souring economic backdrop that’s seen 11 popular shops entirely shuttered – including the iconic Barneys location.

In review:

(not the first time)

Then it was wigs…

See also  China And Brazil Strike Deal To Ditch The US Dollar - Gulf Insider

Across town in Glendale, thieves stole around $300,000 worth of merchandise from the Yves Saint Laurent store.

Now, a viral TikTok video reveals the ghost town Beverly Hills has become.

@cody90210 Its giving Recesion Core #santamonica #thirdstreetpromenade #thirdstreet #losangeles #recession2023 #recessioncore #bailout ♬ Love – Live From The Village – Keyshia Cole

Other stores which have closed include Brooks Brothers, All Saints, and high-end women’s fashion store Escada, according to the Daily Mail, which notes that both Escada and Barneys have filed for bankruptcy in recent years.

See also  Saudi: Man arrested for illegal shooting - Gulf Insider

The closed shops, which also include convenience retailers like Rite Aid and Chipotle, and even popular workout class option SoulCycle, have shuttered their doors on Wilshire Boulevard, leaving the area bereft of its former appeal. Their sad decline marks a departure from the area’s lengthy heyday, which even saw band Weezer pen a song with the lyrics ‘Beverly Hills, that’s where I want to be.’

See also  Saudi banks embrace digital future - Gulf Insider

The reasons for the ample number of closures vary, as many brands see a decrease in demand for in-person retail experiences, while others pivot business strategies following acquisitions by other brands. The downturned economy has also negatively impacted most brands, but especially those marketing luxury products. -Daily Mail

Meanwhile, retailers in California are dealing with a major crime wave and District Attorneys who refuse to prosecute criminals.


Source link


Works as an in-house Writer at Gulf Tech Plus and focuses on the latest smart consumer electronics. Closely follows the latest trends in consumer IoT and how it affects our daily lives. You can follow him on Facebook, Instagram & YouTube.

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button