“Set in the heart of Whitehall, opposite the Horse Guards building and a stone’s throw away from St James Park, Downing Street and Buckingham Palace, every heritage room in The OWO has been preserved as part of a luxurious transformation, which incorporates 85 private apartments and a luxury hotel under one roof.” — Knight Frank Report, MOF Client
Designed to honour our collective past, its truth lies in the importance of history and a combination of luxury, convenience and old-world charm.
Finding meaning in location is important. Luxury branded residences will compel prospects with intriguing propositions and pre-established loyalty, but what will compel them to stay is place.
Make your branded residence the gateway: to a destination, a culture or into history.
3. Make It Make Sense
If putting your name to property doesn’t add experiential value or rep your core spirit or if it will tip the carefully balanced brand–conversion scales in either direction, it’s not an avenue to go down.
Doubtful headlines and dubious comments have already come for the non-hospitality brands taking steps in this space.
Luxury jeweller & timepiece company Jacob & Co announced their branded residence project late last year in partnership with Dubai-based developer Binghatti. Architecturally inspired by the brand’s jewellery, the diamond-lit tower will feature suites and penthouse apartments named after Jacob & Co’s flagship timepieces. And unsurprisingly the amenities leave little to be desired.
Yet, without the service element innate in hospitality’s DNA, fashion and automotive branded residences come in at a disadvantage.
Yes they have the potential to become “a theatre of dreams; a temple to the brand at which the consumer can come and worship,” according to luxury branding expert Piers Schmidt, but if they can’t deliver the service component the loyalty will gradually fizzle out.
Is the ‘theatre of dreams’ better as the ultimate flagship store or brand fanatic behind-the-scenes exhibition? Choose wisely.
Branded residences provide solid ground for brand building, adding another beam to the structure of your business.
From plot to penthouse, the scope for innovation is sky-high and as long as it enhances brand experience.
When we work with clients, we map their end-to-end CX for a few reasons:
- To ensure a balance of brand and conversion — because it’s boring creating ideas that don’t work
- To identify opportunities for innovation; spaces within which genuine value can be added to the experience
- To imbue lacking touch points with the spirit of the brand, weaving that thread through the entire customer journey
We pride ourselves on helping ambitious category-leading brands to innovate without gimmick. Branded residences are an interesting opportunity to flex strong positionings and ultimately, become more ‘lifestyle’ oriented.
We’re excited to see developments from brands across all sectors, and how they tackle the challenges involved.
If you’re already thinking about foundations, get in touch via firstname.lastname@example.org and chat to one of our consultants on how MOF can set you apart.