December 8, 2022

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USA, New Frontier Retail

USA, New Frontier Retail
View of Fendi at The Palmeraie (five-star developer)

“This country at the end of the world represents a change of pace for the luxury market in America, moving beyond the shopping center model.” a word Ricardo VannettiHead of Brand and Digital Transformation Officer from Palma $2 billion luxury shopping, dining, and entertainment complex being built in Scottsdale, Arizona, under the auspices of Five star development. These experiments are also taking place in other destinations in the US market, such as Highland Park in Dallas or the Design District in Miami. A new street shows that there is no longer just a shopping center but in surroundings apparently, but deliberately in private places, what are the various rodeo drives of shopping of a certain level begin to appear.” After being appointed Director of Marketing by Salvatore Ferragamo, joining him in 2018, Riccardo Vannetti is now split between the USA and the position of Director of Special Projects at National Chamber of Italian Fashion.

“An exciting role at this moment in my career, because the United States is a priority market for everyone in the world of luxury. All investments in this sector are mainly concentrated in Asia for many years. With the pandemic emerging, the US has emerged as one of the most reliable markets. It was helpful for me to see the level of development in Scottsdale and Arizona as a whole. It is clear that there is a huge gap between the level of consumers and the current market offer.” Phase one of the complex includes a 215-room Ritz-Carlton resort and 80 Ritz-Carlton residences, while phase two (to be unveiled in 2023 and Vanity expects to MFF) provides a commercial and entertainment district with over 60 major international brand stores, restaurants and offices, as well as private Fendi residences, in an outdoor environment and terraced gardens, which is expected to be completed by the end of 2024.

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“I also love the fact that a project of this scale was developed by a true visionary, Jerry AyoubFrom a family business based in Scottsdale, every square centimeter of the project is perfectly studied and programmed to deliver a unique experience.” Or, as Ayoub himself explains: “Shopping is a good way to take care of yourself, but luxury requires special attention and personal interaction that is not easy to achieve on a large scale. That is why we at Palmeraie exclusivity must be able to offer a unique experience.”

How will retail evolve at Palmeraie? What is the planned opening plan?

We will open by the beginning of 2024 next to the area of ​​restaurants, residences and hotels, the first small commercial space with a maximum of 10-11 stores in independent buildings which will become a kind of temporary luxury where we can include brands from the luxury sector that will have the opportunity to experience this new destination. what or what Jerry Ayoub He was trying to do that is to create meaningful traffic. A commercial area close to villas, hotels and above all the food and beverage area with distinguished chefs Michelin.

And when will the 60 stores you expect arrive?

After this initial stage, whoever arrives first will have the opportunity to choose in what is the largest area because what we build is a type of Rodeo drive without a motor. So each brand will have its own building facade. Some will have an outdoor space or garden, others on the roof so that each brand has the ability to customize their store.

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Have any brands already appeared?

absolutely yes. Keep in mind that we have more than 10 buildings in the trade. Almost all of the embryonic project has already been set.

What stages will it be? When should the temporary part be born?

In 2023. Because our villas will be delivered at the end of the year. The hotel will open in early 2023. There is a very important event, the Super Bowl in Phoenix in February. Keep in mind that every time I visit a CEO or CMO coming from Europe to see this expansion, it really is a hot destination.

So, a new distribution model born in Arizona?

This is the important thing. First of all, the American market, developing strictly from the point of view of consumer development, is no longer primarily a logo, but a sophisticated logo that knows well the depth of brands and their value package. We with The Palmeraie are trying to do the same, it should become a brand. We’ve been here for 17 years because we’ve done things responsibly. For example digging water sources at a depth of 500 meters. In addition, even by merging the area into two municipalities, the roads have been redesigned to help local communities

When will the retail project run at full capacity?

This stage should be operational by the end of 2025. We constantly receive here directors as well as CEOs of the largest global brands. We have already said no many times. And of course there will be structures for social life such as clubs.

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Is it an exportable model? Who actually has some other interests in the United States?

In my opinion, yes, without a doubt. I would say this is the evolution of the Texas Experience in Highland Park, which has been open for about a decade or so, with another one that has much fewer stores and then the luxury brands have been replaced.

Is an Arizona dream born? … like the title of the Kusturica movie …

exactly. A very rich but also ironically more extensive part is moving to Arizona. With a sustainable approach it is part of the DNA of this region and this project. (All rights reserved)