International Collection of Luxury Hotels
|MILAN, Italy - May 31, 2005 -- Following the signing of a Letter of
Intent in 2004, Giorgio Armani S.p.A. and EMAAR Hotels & Resorts LLC
are pleased to announce that their respective Chairmen, Mr. Giorgio Armani
and Mr. Mohamed Ali Alabbar, have today executed the formal contractual
agreement between the two companies for the development of a unique international
collection of 'Armani Hotels and Resorts'.
Giorgio Armani S.p.A. has also established an Armani Hotels and Resorts
division at its headquarters in Milan, which for the last one year has
been actively developing the design concepts under the close supervision
of Giorgio Armani, that will define the look and feel of the hotels and
Giorgio Armani said, "This marks the beginning of a new chapter in the Armani story. In this our thirtieth anniversary year, I cannot think of a more energising prospect than bringing my philosophy of style and design to a collection of hotels and resorts. Today, more than ever before fashion has expanded to encompass our way of life, not just how we dress, but where we live, which restaurants we eat at, which car we drive, where we go on holiday and which hotels we stay in. I strongly believe that for those people who enjoy the Armani fashion and home furnishings collections, there will be a real enthusiasm for the possibility to now stay at an Armani hotel or resort." Armani concluded, "This continues our ongoing strategy of building the Armani universe into a comprehensive lifestyle brand."
Mohamed Ali Alabbar, who is Director General, Department of Economic Development, Government of Dubai and also a Governor of the World Economic Forum, established EMAAR Properties in 1997 as a public joint stock company with the Government of Dubai holding over 30 per cent of the equity. The EMAAR scrip is listed on the Dubai Financial Market with a market capital of US$20 billion and is the number one share in the region as per the recent Dow Jones Titans Index. Today EMAAR Properties is the largest developer in the region with major commercial and residential projects, including Emirates Hills, Dubai Marina, Arabian Ranches and now the Burj Dubai Master Plan community. EMAAR's mission statement is "Shaping the Future, Today" and the skyline of Dubai already bears testimony to the company's growing presence. EMAAR is also a globally diversified conglomerate with the Dubai Bank and Amlak Finance Company, Dubai's largest mortgage provider, under its ownership.
The Armani Group is one of the leading fashion and luxury goods groups in the world today with 4,600 direct employees and 13 factories. It designs, manufactures, distributes and retails fashion and lifestyle products including apparel, accessories, eyewear, watches, jewellery, home interiors, fragrances and cosmetics under a range of brand names: Giorgio Armani, Armani Collezioni, Emporio Armani, AJ | Armani Jeans, A/X Armani Exchange, Armani Junior and Armani Casa. The Group's exclusive retail network currently comprises: 59 Giorgio Armani boutiques, 11 Armani Collezioni stores, 122 Emporio Armani stores, 71 A/X Armani Exchange stores, 13 AJ | Armani Jeans stores, 6 Armani Junior stores, 1 Giorgio Armani Accessories store and 17 Armani Casa stores in 37 countries.
Emaar Hotels & Resorts LLC
|Also See:||Emaar Properties Awards Accor the Management Contract for Novotel Hyderabad, the First New Build Novotel for Accor in India / May 2005|