Editing Rodeo Drive (section)

===International fashion centre===
[[File:Via Rodeo, Beverly Hills.jpg|thumb|European-style buildings on Two Rodeo Drive]]

By 1981, the high-fashion strip took up only two and a half blocks, with around 65 stores.<ref>Elizabeth Bumiller, [https://www.washingtonpost.com/archive/lifestyle/1981/01/14/rodeo-drive-mink-lined-mecca-of-the-inaugural-set/4f1026df-0bf4-4851-b528-54f3d5b943a8/ Rodeo Drive: Mink-Lined Mecca of the Inaugural Set], ''Washingtonpost.com'', 14 January 1981</ref>

The "Rodeo Collection," a 45-store, {{convert|70000|sqft|adj=on}} shopping mall<ref name=glitter/> opened in 1983<ref>{{cite news|last=Darling|first=Michael|title=A Rodeo Drive timeline|newspaper=Los Angeles Times|date=September 9, 2013}}</ref> at 421 N. Rodeo Drive. The building is only four stories high with the first floor below street level in order to satisfy local building codes. The retail space initially leased for as much as $120 per square foot, which, according to an executive with commercial real estate firm [[Studley, Inc.|Julien J. Studley]], was "the highest price for any kind of space in the Los Angeles Area."<ref name=glitter>{{cite news|last=Ryon|first=Ruth|title=That Glitter in Beverly Hills is Growth of Rodeo Drive|newspaper=Los Angeles Times|date=May 25, 1980|page=I1}}</ref>

In the early 1990s, Rodeo Drive was ranked 4th most-visited destination in the Los Angeles area (after Disneyland, [[Knott's Berry Farm]] and [[Universal Pictures|Universal Studios]]).<ref name="upi japanese">Dave McNary, [https://www.upi.com/Archives/1990/06/04/Japanese-make-major-Rodeo-Drive-investment/8205644472000/ Japanese make major Rodeo Drive investment], ''Upi.com'', 4 June 1990</ref>

Two Rodeo Drive, another outdoor shopping center, was built in 1990. It initially housed, amongst other stores, [[Christian Dior S.A.|Christian Dior]] and [[Valentino Fashion Group|Valentino]].<ref name=vincent>{{cite news|last=Vincent|first=Roger|title=Rodeo Drive shopping center sold|url=https://www.latimes.com/archives/la-xpm-2007-sep-18-fi-rodeo18-story.html|access-date=4 April 2014|newspaper=Los Angeles Times|date=18 September 2007}}</ref><ref>Aaron Betsky, [https://www.latimes.com/archives/la-xpm-1991-12-05-we-949-story.html Two Rodeo Drive--A Collage of What Beverly Hills Is All About], ''Latimes.com'', 5 December 1991</ref> The original developer, Douglas Stitzel, sold the property for about $200 million immediately after its completion.<ref name=vincent/> Two Japanese groups, Kowa Real Estate California Inc. and USA Sogo Inc, bought 40% of Two Rodeo Drive.<ref name="upi japanese"/>

The Two Rodeo Drive shopping center was hard-hit by the [[early 1990s recession]], with occupancy rates dropping to as low as 60%.<ref name=vincent/> Middle-market brand boutiques such as [[Guess (clothing)|Guess Jeans]] and [[Banana Republic]] opened on Rodeo Drive.<ref name="nytimes hardtimes"/> Many franchised stores were bought back by the brands they represented (Polo Ralph Lauren, Gianni Versace, Hugo Boss).<ref name="labiz journal"/>

The Two Rodeo Drive buyers sold it at an almost $70 million loss in 2000. By 2007 the property was financially stable again and was sold to a group of Irish investors for $275 million.<ref name=vincent/> It resembles a "faux-European shopping alley" and features a cobblestone street.<ref name="Rough Guides 2011 109">{{cite book|title=The Rough Guide to California|year=2011|publisher=Penguin, 2011|page=109|author=Rough Guides}}</ref> Some architects have claimed that Two Rodeo Drive is similar to a "theme park in the manner of Disneyland."<ref>{{cite book|author=David Gebhard|title=An Architectural Guidebook to Los Angeles|url=https://books.google.com/books?id=WWl29hn0C9gC&pg=PA158|year=2003|publisher=Gibbs Smith|isbn=978-1-58685-308-2|pages=158–9}}</ref>