lpoutine,
Victoria Watcher has just posted a new topic entitled ""Branding" real estate projects" in forum "Urban Design".
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Designers have long been drawn to Miami, with Gianni Versace, Calvin Klein and Tommy Hilfiger all having owned homes there over the years.
But today, the Miami real estate market is hotter than ever among the fashion set — especially in a business sense. Fendi, Armani and Missoni are plastering their names on superluxury residential towers springing up across the city after having dabbled in the hotel world. Meanwhile, hard-core fashion followers (or in some cases their generous spouses looking for an original gift) appear willing to drop millions of dollars on apartments in the designer-branded buildings.
Setting the trend is Armani, which has partnered with developers Dezer Development and The Related Group on Residences by Armani/Casa in Sunny Isles Beach. The 56-story César Pelli-designed building, comprising 308 apartments priced between $2 million and $15 million each, isn't due for completion until 2019, but already 72 percent of the apartments have been sold.
Gil Dezer of Dezer Development is no stranger to branded buildings, having worked on six with Donald Trump (before he became President, of course). He recently completed the Porsche Tower in Miami, the world's first condominiums to have elevators that take residents directly to their apartments while sitting in their cars. "I was in Dubai when I stayed at the Armani Hotel and I said, 'This is wow. We need to bring this to America,'" he said.
However, he admitted that it was a challenge to convince the famed Italian fashion house to take part. "It was not easy. They do their homework very well. We can do more damage than good as Armani is doing $9 billion a year in sales. They don't need the few bucks that I'm going to give them. This is more about that they want to have a real strong presence and it helps their brand and it also helps sell [their] furniture."
Dezer finally succeeded in persuading the Italian company to license their brand to him and today Armani is designing all the communal areas and for an additional cost to the buyer can also offer interior design, at about $300 a square foot. For the largest apartments, that works out at just over $1 million.
Armani has complete control of the interior design of the wider building, with Dezer admitting he has had to become "opinionless" on it. And, as with everything his company does, Giorgio Armani is personally involved. "He's actually very involved, which is good and bad," admitted Dezer. "It's good because we get his stamp of approval, so we really know it's an Armani thing and not just slapping a brand on. But we have to wait for him to get off his boat to approve something and we have to wait for him to fly here and fly there. Even if we need to approve an ad, he approves everything."
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The topic can be found here:
https://vibrantvictoria.ca/forum/index.php?/topic/7659-branding-real-estate-projects/?view=getnewpost
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