Nearing completion after two years of construction, the Giorgetti Houston project of luxury residences is the first real estate operation of the brand with its increasing impact on the contract sector, exporting an idea of lifestyle Made in Italy (Made in Meda, in fact).
Thanks to collaboration with Mirador, the Texan developer specialized in architecture and interior design, Sudhoff Company, a leader in the field of real estate consulting, and Internum, the retail partner that represents Giorgetti in several important areas of the United States, the building is located on Upper Kirby Street, with 7 floors containing 32 large apartments, from 230 to 370 square meters, all decorated with custom-made systems and supplied with many community facilities. Giovanni Del Vecchio, CEO of the company, brought us up to date on the situation in Houston, and the present and future operations of Giorgetti in the United States.
“The construction is almost finished, and we have started to ship the first corporate elements and furnishings for the community spaces. Almost 70% of the residential units have been sold on prospectus, and I expect to begin delivery of apartments to the residents in the final quarter of 2019. To get an idea of the value of what they have purchased, the clients were invited to Meda and spent a day in the company, to be reassured about their investment, given the fact that Giorgetti Houston has the highest value per square meter in Texas. So they had a chance to learn more about the background and quality of a project created by Giorgetti.”
More generally, what is your present position on the American market?
“Giorgetti has been operating in the USA since the early years of the 20th century, and in the 1920s the company began to export its products. Today we have an affiliate, Giorgetti USA, with offices in New York, to oversee the North and South American markets, accounting for about 15% of the company’s overall sales.
What strategies are planned for the future?
“The growth plan we have implemented and are continuing to perfect calls for reinforcement of the excellence and productive flexibility Made in Italy, or actually Made in Brianza, with sizeable investments in young human resources and machinery. This means experimenting with novel materials for us, such as glass, metal and marble: 8% of sales goes into R&D, a high quota for this sector. We are also opening the catalogue to kitchens, furnishing complements and outdoor furnishings, an outdoor that coexists and is contaminated with indoor in a continuum where the spaces constantly interact. We are also trying to enter new markets, to be increasingly international, expanding and improving our distribution network, motivating people and constantly increasing and updating our points of sale.”
What is the client and market target?
“One of the strong points of the American market is that 80% of the projects are assigned to architects and sector professionals. Such expert counterparts facilitate the choice of brands linked primarily to Made in Italy. As for the showrooms, Giorgetti works with a selective distribution strategy, with exclusive points of sale, focusing on the brand in the main cities, such as Boston – where we are opening, at the end of May, an important monobrand store – Houston, Los Angeles, Chicago, Dallas, just to name a few.”
What is the role of the contract sector for Giorgetti?
“We are mostly working on design and with sector professionals, and over the short term the channel that contributes to generate best results is undoubtedly that of contract. To support this type of growth, last year Giorgetti acquired 100% of Battaglia, a historic Italian brand specializing in interior design projects for residences, hotels, retail facilities and yachts. The aim is to support our distribution in the design and installation of custom-made works, in turnkey projects for a very high-profile clientele.”