Peter Marino knows his value. The architect, who just designed the new Chanel store on 57th Street, says his high fees are worth it.
“What’s the advertising budget . . . $380 million a year? The architecture fee is $3 million? I enhance the brand, and I don’t think it’s baloney to say I do that a lot more than two ads in a fashion magazine,” he told Fern Mallis during a 92nd Street Y Q&A.
He added, “Fashion magazines are going away, and my stores are not.” He also said, “For every four people who enter Chanel, only one person will purchase . . . the goal is that the other three people better leave with a positive feeling in order to want to go back.”