The Italian fashion and lifestyle brand, owned by L. Catterton since 2021, has partnered with Turkish real estate group Rams Global and Italian luxury furniture specialist Onilo to create the first luxury residence in the Turkish capital’s business district. is working on a project. Other projects of the same type are expected to follow around the world.
It combines the charm of Italy with the charm of ancient Byzantium, modern-day Constantinople and Istanbul. Etro opens a luxury residence in Türkiye’s capital.
Italian fashion and luxury brands such as Armani have long invested in interiors with their home collections. Many other companies, such as Roberto Cavalli, Dolce & Gabbana and Missoni, have also entered the hotel and real estate sector, and brands from other nationalities have imitated them.
The first step in real estate
Etro has taken its first steps into the real estate field.
The Italian luxury residence to be acquired by Franco-American fund L. Istanbul” was carried out. ” Project.
Etro has designed 37 of the 40 floors of a future luxury residence scheduled to open in the Marisk business district in Istanbul’s European part in the second half of 2026, with panoramic views of the mythical and majestic Bosphorus. You can. La Maison Transalpine will design the interiors and common areas of each 2,000 square meter space.
Oniro Group, on the other hand, creates and supplies products for the Etro Home Interiors collection, including furniture and fully customized elements.
Collaboration aiming to expand
This initial site will be the first in a collaboration between Etro and Rams Global, with plans to launch similar sites in other countries.
“The aim is to expand our cooperation with ETRO beyond Turkey and into the global market,” said Devran Bürbuğlu, President of RAMS Turkey. Fabrizio Cardinali, CEO of ETRO, said: “This new partnership with RAMS GLOBAL promotes the reputation and integrity of a brand with an exceptional heritage and an innovative and visionary spirit. This marks the beginning of a long-term cooperative relationship.”
With this new project, Etro further expands its lifestyle reach.
Founded in 1968 by Gerolamo Etro, originally a fabric manufacturer, Etro has turned the famous paisley motif into a global brand that includes ready-to-wear, accessories, fragrances, home linens and decorative goods as part of its DNA. It evolved gradually.
In recent seasons, Etro launched an eyewear collection, a perfume license, and a children’s clothing line, Etro Kids, to complement its existing men’s and women’s models.
means to achieve ambitions
The brand has given itself the means to achieve its ambitions. At the end of 2023, major shareholder L. Catterton announced a capital increase of 15 million euros. This was to fund major investments planned as part of an overall recovery project starting at the end of 2021.
Mr. L. Catterton became a major shareholder (60%) of Etro in July 2021. The company’s four heirs and the brand’s founder’s children, Ippolito, Jacopo, Keene and Veronica Etro, still own the remaining 40%.
Since the appointment of L. Catterton, the subsequent appointment of new CEO Fabrizio Cardinelli, and the appointment of new creative director Marco de Vincenzo (formerly of Fendi) in May 2022, Etro has We have been implementing strategic initiatives and reorganizing our distribution network. Change position. The aim was to improve fit with the company’s product offering, improve its image and strengthen its digital efforts…
At the time of its acquisition by L Catterton, Etro had 140 single-brand stores worldwide.
In 2022, ETRO’s sales increased by 17% to 277 million euros, but the loss amounted to 23.6 million euros. In the same year, the CEO declared that the company was aiming for sales of 500 million euros over the next five years.
A new standard in luxury real estate
For Devran Bülbül (RAMS Turkey), the new partnership embodied by this first project with ETRO “not only represents a new global perspective on the real estate market, but also sets new standards for collaboration with luxury brands. There are also things to do.” In his eyes, “ETRO’s combination of design excellence and RAMS GLOBAL’s avant-garde, combined with its 36 years of experience, will make the branded real estate sector even more modern and innovative.” It is said that
Moreno Brambilla, CEO of ONIRO Group, spoke about the “success of a new chapter” in the “branded housing expansion strategy”. He said he and his team have an “established partnership with ETRO, the epitome of Made in Italy fashion, and RAMS GLOBAL, one of the world’s fastest growing real estate groups.” “I’m very proud,” he explained. He concluded, “When three partners of this caliber come together and work together, you can only expect magic.”
Also read > L. Catterton to recapitalize Etro
Featured photo: © Etro