Gucci Store Sells for More Than $100M

The founder of trendy clothing line Zara buys the three-story retailer on Rodeo Drive in Beverly Hills.

The Italian fashion retailer Gucci, with a showroom at 347 North Rodeo Dr., sold for more than $100 million to the Spanish fashion moguel Amancio Ortego, founder of the trendy Zara clothing line, the Los Angeles Times reports.

The three-story building is 12,250 square feet.

Ortego ranks as one of the world's richest men, ranking third on Forbes' list of billionaires.

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