Place Vendôme, a $1.25bn mixed-use development by United Developers currently under way in Lusail City, partnered with Condé Nast International to host the first Condé Nast International Luxury Conference in Florence, Italy, recently.
The event brought together more than 500 of the most influential leaders in the global world of luxury to discuss the “future of luxury – a new world, in which technology competes with ‘hard luxury’ (watches and jewellery) and leather goods”.
Over the past two years, Place Vendome has been engaging with leading brands of the luxury industry to introduce them to the project and the ample opportunities available in the Qatar retail market.
In 2014, Place Vendôme held an exclusive roadshow in Milan, Paris and Cannes where they met with top executives of luxury brands to introduce them to the Place Vendôme development.
These efforts have continued through the partnership with Condé Nast International that came in place to strengthen the position of Qatar and the project on the global luxury scene.
The conference was curated by Suzy Menkes, International Vogue editor, and hosted keynote speakers, including CEOs and creative directors of the world’s leading luxury brands such as Apple, Berluti, Chanel, Chloé, Delfina Delettrez, Emilio Pucci, Fendi, Gucci, Hermès, Lanvin, Loewe, Moschino, Ralph Lauren, Salvatore Ferragamo, Swarovski, Tiffany & Co, Tory Burch and Van Cleef & Arpels, among others.
Sean Kelly, project director of Place Vendôme, said: “Our support to this event aligns with our effort to reinforce the position of Qatar and Place Vendôme in the global luxury industry.”
Valued at $8bn annually, Qatar’s retail sector is expected to grow by more than 6% annually until 2017. In 2014, Qatar was identified as the second shopping destination in the Middle East and ranked seventh out of 40 “important retail markets” worldwide.
Place Vendôme Qatar spans over 800,000sqm and will host two five-star luxury hotels, serviced apartments, a mall featuring up to 400 retail outlets and a central entertainment amphitheatre. The mall will also feature a luxury precinct. The project is slated for opening in the third quarter of 2017.