ROME • Italian luxury brand Fendi unveiled its restored Palazzo Fendi palace in central Rome last Thursday as it seeks to woo the richest shoppers.
After a refurbishment lasting about a year, the building will include Fendi's flagship store, a "by- invitation-only" suite, a seven-room hotel and a roof restaurant.
The customer experience "will link that person to our brand", chief executive officer Pietro Beccari said in an interview. "It's a place to cement a relation," he said.
Fendi is mirroring the strategy of another luxury brand Louis Vuitton to make even the wealthiest customers feel special. Both labels are part of France's LVMH.
Maintaining exclusivity is becoming more challenging for luxury labels as the industry's growth slows amid collapsing demand in China and a strengthening dollar.
It's a place to cement a relation.
MR PIETRO BECCARI, chief executive officer of Fendi, on the restored Palazzo Fendi
Mr Beccari said Fendi is looking at Australia and Canada as potential new markets as it seeks to keep up last year's revenue growth.
"There are areas where we want to be present with physical stores opening, but also with e-commerce," he added.
Online, Fendi is targeting Japan among several countries where it is looking to apply a policy of charging the same price as it does in shops.
Mr Beccari said he is not overly concerned by the slowdown in China's growth. "For a luxury brand, China is a must-go market," he said.