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Italian fashion house Missoni forms JV with hospitality major Rezidor

28
Nov '05
Brussels-based hospitality company Rezidor SAS Hospitality has announced in London on November 16th, 2005 that they had concluded a worldwide license agreement with the Italian fashion house Missoni, to develop and operate a lifestyle hotel brand of the same name: Hotel Missoni.

The deal will now see Rezidor SAS conclude on negotiations for sites for the new brand in the UK, mainland Europe, Russia, Asia Minor and the Middle East. With the first three Hotel Missoni's expected to be open in 2007 and 30 expected to be open or under development by the year 2010.

Speaking at the completion of the agreement, Kurt Ritter, President and CEO of Rezidor SAS stated that they have been believers in this market segment for a long time now and this deal gives us the perfect brand to take their share of this fast growing, increasingly important, market sector.

He is particularly delighted because the deal with Missoni has grown into much more than just a deal, it's a relationship, a natural partnership, and that's the only way that a brand like this can truly develop. It's a very unique brand, with a great heritage, a very identifiable look, and real family values. He is sure when they launch in 2007, Hotel Missoni is going to create quite an impact on the market.”

Vittorio Missoni, Director of Missoni S.p.A included that they are very, very protective of the Missoni business that my family have built, and they want to ensure that they never sacrifice the values of that business at the expense of quick, short term growth. They are sure that they have the right partners in Rezidor SAS and that they understand and will respect these values.


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