As part of its foray into the global property market, Austrian crystal brand Swarovski will invest in real estate in yet-to-be disclosed Chinese cities.
It is not uncommon for luxury companies to branch into real estate development. Louis Vuitton, Hermes, and Fendi have all entered the property market in the last few years.
By investing in high-end property, Swarovski hopes to boost its brand value while building customer loyalty through associating the brand with a luxury lifestyle.
The company announced last month that it had partnered with Dubai-based property developer Tebyan to build a resort-style, ultra-luxury residential tower in Dubai.
Swarovski executive Nadja Brakonier told Want China Times that the Dubai deal is the first step in the company’s plan to enter the real estate markets in Asia, Europe, and the Middle East.
“As a premium supplier to the project, Swarovski is delighted to be able to present the residents of Sparkle Towers at Dubai Marina with an opportunity to personally experience the joy of crystal through a whole range of sparkling applications. Our input will also ensure that their chosen place of residence stands out as unique in a city where luxury is the norm,” the company said.
image credit: swarovski.com