MILAN — The Giorgio Armani Group is continuing to expand along the lines of the late designer‘s strategies.
The Italian fashion and design group inked a new joint venture with Symphony Global to further develop a portfolio of Armani Hotels & Resorts in selected international locations.
Symphony Global is the private investment firm of Mohamed Alabbar and the agreement furthers the storied bond between Armani and Alabbar that led to the opening of the first Armani Hotel in Dubai in 2010, which occupies eight floors of the soaring Burj Khalifa tower. That hotel was followed by a second in Milan in 2011.
The joint venture will be headquartered in Milan and Dubai for a contractual term of 20 years, with another 10-year renewal period.
“This joint venture builds on a partnership that has already proven its strength over time,” said Giuseppe Marsocci, chief executive officer of the Armani Group, who was named to the post in October.
Marsocci touted the success of the Armani Hotels in Dubai and in Milan, which together with the upcoming hotel in Diriyah Gate, Riyadh, planned for 2027, “clearly demonstrates how our design philosophy and approach to hospitality resonate with today’s global luxury customer.” The latter hotel will be located in a 300-year-old site located a 15-minute drive from Riyadh, in the Kingdom of Saudi Arabia. The area is home to the UNESCO world heritage site At-Turaif, recognized as one of the world’s foremost mud-brick cities and the valley and lush palm groves of Wadi Hanifah.
Lobby inside of Armani Hotel in Dubai.
Courtesy of Armani
Marsocci underscored that the “new reinforced partnership will allow us to further develop our vision in hospitality and lifestyle, guided by shared values of excellence, timelessness, respect for our clients and a refined customer experience that feels both intuitive and enduring. Ultimately, the consolidation of our established collaboration with Mohamed Alabbar is part of long-term partnerships that have always characterized our company and the ‘Armani’ business model, such as the ones with Luxottica and L’Oréal, all of them great partners with a multi-decade perspective.”
Luxottica and L’Oréal are the the group’s eyewear and beauty licensees, respectively. Additionally, LVMH Moët Hennessy Louis Vuitton was singled out by Armani in his will as potential buyers of his company.
In a statement issued by the Armani Group and Alabbar, the new joint venture was pegged as “one of the most ambitious collaborations in design hospitality announced at a global level in recent years” and that it will focus on a “highly selective growth strategy.”
“I have long admired Giorgio Armani as one of the great visionaries of our time. His approach to design — timeless, disciplined and deeply human — has influenced generations, including myself,” Alabbar stated. “What makes this partnership so powerful is the alignment of values: an uncompromising pursuit of quality, a deep respect for guests and a belief that true luxury lies in how people feel. Through Symphony Global, we are proud to support the global expansion of the Armani hospitality vision with a long-term, exclusive commitment.”
Alabbar is the founder of Emaar, a leading real estate and hospitality development company, which has realized destinations such as Downtown Dubai, Dubai Mall and Burj Khalifa. He is also the founder of Noon, the Middle East’s leading digital commerce platform, and a major shareholder in Americana, one of the region’s largest food and beverage operators.
In addition to its design element and top-level service, the commercial performance of the Armani hotels have provided the foundation for this new phase of global expansion, according to the statement.
“The business idea, shared personally with Mr. Armani, was for the development of two distinct models of hotels: the Armani Hotel luxury model, for the established pure luxury hotels, such as those already operating in Milan and Dubai, and the Armani Hotel lifestyle model — always luxury, but with a younger, lifestyle feel,” the companies said. “This would better serve the new generations of tourists, especially in ‘new’ continents, and with the ambition of responding to growing global demand for high-end hospitality.”
Since 2003, the Armani/Casa Interior Design Studio has provided complete interior design services to private individuals and property developers, including the Maçka Residences in Istanbul, the Century Spire in Manila and the 260 Residences by Armani/Casa in Miami, in a 60-story oceanfront tower designed by architect César Pelli in Sunny Isles.
