Italian fashion comes to Dubai
From "FOH News" on 01 July 2008
The Gianfranco Ferre Stresa building in Dubai is the first project of the joint venture, which will see GIO develop and manage all future operations, while Gianfranco Ferre will oversee all aspects of design and style, and is slated for completion by 2011.
As part of the JV, all future developments will house a fashion collection from the designer of clothing and furniture.
"We've gone that one step further and created a new entity, a world-class brand we can call our own," said GIO chairman Rashid Abdul Wahab Galadari. "We are, indeed, raising the stakes in the real estate industry and anticipate that this new label will rapidly gain credibility globally and set a whole new trend in high-end residential good living and stunningly functional work places."
The JV is also believed to be examining the development of new projects in London, Moscow, India and China.
Late last year, Armani Hotels & resorts, a partnership between Italian designer Armani and Emaar Properties, launched its new website, armanihotels.com, a sales vehicle for its Armani Hotel & Residence project. With each company sticking to their respective areas of expertise, all hotel and residential units will include a range of specifically designed features such as furniture, kitchen and fabrics.
Speaking at a press conference, Giorgio Armani said: "The opening of the sales centre for the world’s first Armani Residences at the Burj Dubai Sales Centre represents the ideal moment to launch this new website as the spectacular Burj Dubai development will also be the location for the world’s first Armani Hotel. Opening in late 2008, the Armani Hotel Dubai and the associated Armani Residences will effectively bring to life my vision of hospitality."
In 2006, Italian fashion designer Versace announced its partnership with the Emirates Sunland Group (ESG), to build the Palazzo Versace Dubai hotel, its first in the region – due for delivery by Q4 2009.
To compliment the development launch, 169 exclusive condominium residences were also announced with 50% selling off-plan prior to launch. The partnership sold a great majority of these condos via Harrods Estates, the property agency division of London-based luxury department store Harrods. Versace will also sell its range of high-end designer furniture packs via the Palazzo hotel.
