From high fashion to high-rises – developers have cottoned on to the fact that their high-net-worth clientele is a brand-centric crowd, shopping for labels and status symbols as most people shop for groceries. That’s why, increasingly, luxury residential buildings have leveraged exclusive retail brands to help sell their units. Unsurprisingly, nowhere is this more popular than at the crossroads of the catwalk and condo – Miami.
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Dolce & Gabbana
The Dolce & Gabbana branded 888 Brickell will see a new 90-story, 1,049 ft super tall condo tower – a record for Miami – take to skies, comprising 259 residences and a yet-to-be-announced 5-star hotel. What is the fashion brand’s contribution to the development besides their coveted name? D&G’s famous gold and black design style will abound throughout the building. The facade will feature ivory travertine, white stucco and matte black steel beams; at the street level, the building features a necklace of golden beads courtesy of New York architecture practice Studio Sofield. The design team said they were inspired to invoke “quintessential modernist skyscrapers and Milanese midcentury design and fashion.”
D&G’s actual input was that their designers collaborated with Milan-based studio M2Atelier on the interiors for the project. Renderings depict dark, moody public spaces outfitted with metallic highlights and animal-print furniture.
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Elle Residences
Not to be outdone, Elle Residences (as in the women’s fashion/lifestyle magazine), Miami, at 3618 NE 5th Ave. in Edgewater, is a 180-unit project developed by Urban Network Capital Group and Vertical Developments. It will feature interiors by The One Atelier (a design company with a long pedigree of branded buildings, including those by Fendi and Karl Lagerfeld).
“This groundbreaking residential project will debut a new legacy for Elle, one of which we are proud to share in the next chapter of this influential brand,” Fernando de Nuñez y Lugones, CEO of Vertical Developments, said in a statement. “Our aspiration is not just to build a tower but create an ownership experience that amplifies modernity with the timeless sophistication of Elle’s nearly 80-year history.”
Aside from the slew of top-notch amenities and the instantly recognizable name value, buyers willing to shell out high six figures and up will want to know what distinguishes Elle and other name brands from their competition.
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“This project will represent a groundbreaking concept, offering captivating gateways for owners and residents to experience condo living through a fresh lens and the visionary perspective of Elle,” Constance Benqué, CEO of Elle International and Lagardère News, said.
This may be a vague summation, but the fact is that a famous name brand is the magical pixie dust that can make a consumer choose it over the competition. It leverages the brand’s history, credibility and lifestyle and transfers it to the building. Porsche, Aston Martin, Mercedes, Bentley, Pagani, Armani and Fendi are well-known brands attached to Miami condos.
A City Of Brands
“It’s nothing short of wild how many branded developments there are,” Peter Bazeli, a real estate development advisor and principal at consultancy Weitzman, told Curbed. “Now it’s expected,” Bazeli said. “The traditional residential model of just building a really nice building is not enough anymore. Each new development has to have a brand, has to conjure up the idea of what the lifestyle can be.”
But why Miami and not New York or LA? In those cities, the location itself is the brand. In Miami, where city locations are not well known, branding makes good business sense, especially to International buyers, even if the brand’s involvement beyond lending its name is questionable.
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