From the luxury fashion house of Ferragamo, well-regarded international marketing executive Riccardo Vannetti has joined forces with Five Star Development to lead the marketing and branding vision for The Palmeraie.
The Palmeraie is an under-construction $2 billion, 122-acre luxury shopping, dining and entertainment destination in the heart of Scottsdale.
Vannetti was most recently the chief marketing officer for Salvatore Ferragamo Group from the brand’s Milan headquarters and, prior to that, the chief strategy officer of Pitti Immagine’s Tutorship consultancy service for fashion designers, according to a press release.
Earlier this year, Vannetti took on a prestigious role with Camera Nazionale della Moda Italiana, the National Chamber of Italian Fashion, as the head of special initiatives.
With a degree in art history, Vannetti began his career as a freelance journalist who held contributor positions at Conde Nast, L’UOMO Vogue, Vanity.IT and many others. He has also held several marketing roles that provided support and strategic advice to some of the world’s leading fashion designers.
Five Star Development, owner of The Palmeraie, enlisted Vannetti as the property’s chief brand and digital transformation officer. In his role he is responsible for the overall marketing, communication and branding, plus elevating The Palmeraie to an international destination, the press release stated.
“At this moment in my career, this role is very exciting because the U.S. is a priority market for everyone in the world of luxury right now,” said Vannetti. “For many years, all of the investments within the luxury industry were mainly concentrated in Asia. As we’re coming out of the pandemic, the U.S. has emerged as one of the most reliable markets. It has been enlightening for me to see the level of sophistication and worldliness in Scottsdale and Arizona as a whole. It’s apparent that there is a huge gap between the level of consumer here and the current market offering.”
Vannetti goes on to say, when there’s a gap, there’s opportunity.
“The Palmeraie perfectly fills that market niche with the creation of a destination where shopping, dining and entertainment are not solely transactional, but experiential, soul-fulfilling and inspiring. I also love the fact that a project of this size, scale and magnitude is being developed by a true visionary, Jerry Ayoub, and a Scottsdale-based family business where every square inch of the project is studied and perfectly programmed to offer a one-of-a-kind experience,” he said.
The Palmeraie spans 122 acres in the most affluent and sought-after area in the state of Arizona. As its own eco-system, The Palmeraie promises to be among the most interesting and desired experiential shopping and dining destinations in North America. Plus, it has direct connectivity via lush walking paths to a sprawling enclave of multi-million-dollar homes and one of the world’s most popular hotel brands, The Ritz-Carlton.
At the heart of the community, and within the first phase to open, is a 215-room Ritz-Carlton resort surrounded by 80 single-level Ritz-Carlton Residences Villas and 32 single-family Ritz-Carlton Residences Estate Homes priced from the mid- $7 millions. The Ritz-Carlton Paradise Valley, The Palmeraie promises to be one of the finest resorts of its kind ever built in Arizona, the press release stated. The resort and Villas will open in early 2023.
The second phase of The Palmeraie is set within 18 acres and encompasses the shopping, dining, social, office and residential district that features over 60 exceptional best-in-class, specialty boutiques ranging from heritage luxury brands to the most in-demand modern retailers; chef-driven dining destinations with abundant outdoor, garden and rooftop seating that celebrate the magnificent outdoor setting; a first-to-market, specialty Class-AA+ office tower and FENDI Private Residences, which is the first ground-up residential enclave in North America with 41 bespoke residences.
Completion of the second phase is expected by the end of 2024, the press release stated.
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