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LAUREN, BULGARI EYE HOTELS; New to the lodging scene, fashion names scout sites.(News)(high-end retail stores)
Crain's Chicago Business, November, 2003
Byline: ALBY GALLUN Two big names on the Michigan Avenue retailing scene want to give people a place to drop after they shop. Polo Ralph Lauren Corp. and Italian jeweler Bulgari SpA are doing their own shopping for hotel sites along the Magnificent Mile, part of a push to transform their high-end retail names into "lifestyle'' brands.
Polo has scoped out the Palmolive Building on Michigan Avenue, and both are eyeing a site at the corner of Rush and Superior streets. Fashion designers and luxury goods companies are dabbling in hotels in other parts of the world, including Milan, Italy, where a Bulgari joint venture plans to open a hotel early next year. But they have yet to enter the U.S.-not to mention downtown Chicago, where big names like the Four...
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