Giorgio Armani

AME Info Business News:

Giorgio Armani S.p.A and EMAAR Properties PJSC today announced that they have signed a Letter of Intent for the establishment of an innovative worldwide collection of Armani luxury hotels and resorts.

The Letter of Intent, signed by Giorgio Armani, Chairman and Chief Executive of Giorgio Armani S.p.A., and Mohamed Ali Alabbar, Chairman of EMAAR Properties PJSC and EMAAR Hotels & Resorts LLC, describes a collaboration that will see the opening of ten luxury hotels and four luxury vacation resorts within seven years in prime locations in the world's most important cities, including London, Paris, New York, Tokyo and Shanghai. And, acknowledging the heritage of the partnership companies, hotels will be opened in Dubai and Milan. There is a commitment that at least six of the hotels and two of the resorts will be completed and opened within five years.

The Dubai 'Armani Hotel' will include 250 suites, restaurants and a spa, covering more than 40,000 square meters, located at EMAAR Properties' new Burj Dubai development, the world's tallest residential and commercial building. Alongside the hotel's suites, the Burj Dubai will offer 150 luxury residential apartments all conceptualized by Giorgio Armani and fully furnished with a specially designed line of products from the Armani Casa collection. The tower is the centrepiece of a new 160-hectare community adjacent to the Dubai Mall.

Giorgio Armani said, 'We have been exploring the idea of bringing the Armani philosophy of design and style to hotels for many years. We have been approached by many legitimate third parties with an interest in such a possibility. After very careful consideration, however, we have selected EMAAR Properties to be our partner in this significant, long term venture to develop a unique collection of luxury hotels and resorts around the world, because of their expansive vision, their expertise in real estate development and resort management and their appreciation for the intrinsic value of the Armani name and aesthetic.'

Mohamed Ali Alabbar said, 'As a result of Giorgio Armani's indelible imprint in the world of fashion, today the 'Armani' name is synonymous for modern elegance, style and above all exceptional quality. These are the attributes that will characterize and define the collection of hotels and resorts that we will open in the world's most important cities and vacation destinations in the coming years.

We look forward to experiencing Mr. Armani's creation next time we are in Milan. At the same time, we would love to better understand why he has chosen Dubai as one of the first two locations to venture into the hotel and resort business.

It is our understanding that another world class fashion designer will be following suit in short order. Ralph Lauren is expected to open resorts in Colorado and Jamaica where he already owns a home. Stay tuned.

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