Remember the days when we would hear the question “who are you wearing?” yelled at celebrities, well now it will be “who are you living?” Giorgio Armani has transcended the area of clothes and now has a clear foothold in Interior designing. The first such deal in India was between Armani and Lodha in Bombay, the success of this deal; it seems, has made Armani hot property with the Noida based Supertech pitching an Armani Tower. The 400,000 towers would be featured in Supertech’s luxury project Supernova and contain 100 luxury residential units. The deal’s details still have to be hammered out, with Armani asking for revenue sharing, while Supertech would prefer to pay a one-time fee. What makes this deal incredible is the exclusive rights. Armani cannot tie up with another North Indian developer for a similar concept, making the Armani tower a one-of-a-kind construction.
Armani had proved time and time again that they are bankable, even when the Dubai real estate bubble burst, The Armani Apartments in the Burj Khalifa managed to hold on to their exorbitant price. The apartments would feature interiors and furniture done by Armani.
Brands like Armani are almost recession-proof as the developer has already identified buyers for such exclusive apartments before heading into the partnership. At 370 dollars per square foot, these apartments will cost approximately ($184,000).