From the luxury fashion house of Ferragamo, well-regarded international marketing executive Riccardo Vannetti has joined forces with Five Star Development to lead the marketing and branding vision for The Palmeraie, a $2 billion, 122-acre luxury shopping, dining and entertainment destination in the heart of Scottsdale.
Vannetti was most recently the chief marketing officer for Salvatore Ferragamo Group from the brand’s Milan headquarters and, prior to that, the chief strategy officer of Pitti Immagine’s Tutorship consultancy service for fashion designers. Earlier this year, Vannetti took on a prestigious role with Camera Nazionale della Moda Italiana, the National Chamber of Italian Fashion, as the head of special initiatives.
With a degree in art history, Vannetti began his career as a freelance journalist who held contributor positions at Conde Nast, L’UOMO Vogue, Vanity.IT and many others. He has also held several marketing roles that provided support and strategic advice to some of the world’s leading fashion designers.
Five Star Development, owner of The Palmeraie, enlisted Vannetti as the property’s chief brand and digital transformation officer. In his role he is responsible for the overall marketing, communication and branding, plus elevating The Palmeraie to an international destination.
“At this moment in my career, this role is very exciting because the U.S. is a priority market for everyone in the world of luxury right now,” said Vannetti. “For many years, all of the investments within the luxury industry were mainly concentrated in Asia. As we’re coming out of the pandemic, the U.S. has emerged as one of the most reliable markets. It has been enlightening for me to see the level of sophistication and worldliness in Scottsdale and Arizona as a whole. It’s apparent that there is a huge gap between the level of consumer here and the current market offering. When there’s a gap, there’s opportunity. The Palmeraie perfectly fills that market niche with the creation of a destination where shopping, dining and entertainment are not solely transactional, but experiential, soul-fulfilling and inspiring. I also love the fact that a project of this size, scale and magnitude is being developed by a true visionary, Jerry Ayoub, and a Scottsdale-based family business where every square inch of the project is studied and perfectly programmed to offer a one-of-a-kind experience.”
As one of the most ambitious undertakings of a luxury master-planned community to ever to exist in the Southwest, The Palmeraie spans 122 acres in the most affluent and sought-after area in the state of Arizona. As its own eco-system, The Palmeraie promises to be among the most interesting and desired experiential shopping and dining destinations in North America. Plus, it has direct connectivity via lush walking paths to a sprawling enclave of multimillion-dollar homes and one of the world’s most venerable hotel brands, The Ritz-Carlton.
At the heart of the community, and within the first phase to open, is a 215-room Ritz-Carlton resort surrounded by 80 single-level Ritz-Carlton Residences Villas and 32 single-family Ritz-Carlton Residences Estate Homes priced from the mid- $7 millions. The Ritz-Carlton Paradise Valley, The Palmeraie promises to be one of the finest resorts of its kind ever built in Arizona. Spread out over approximately 18 acres, the design of the hotel employs simple, elegant forms to create relaxed, comfortable spaces in the time-honored tradition of luxury architecture. The stunning Grand Lobby, situated above the rest of the hotel overlooking Camelback Mountain, will greet guests with a water feature that cascades down through the property to a world-class spa. The main pool, spanning nearly 400 feet, will be one of the longest resort pools in North America. A specialty dining concept will harvest seasonal produce from the resort’s anticipated herb garden and citrus orchard and incorporate ingredients into the daily menus. The abundant oversized suites and detached casitas will make The Ritz-Carlton Paradise Valley, The Palmeraie an ideal destination for those seeking a private oasis. The resort and Villas will open in early 2023.
The second phase of The Palmeraie is set within 18 acres and encompasses the shopping, dining, social, office and residential district that features over 60 exceptional best-in-class, specialty boutiques ranging from heritage luxury brands to the most in-demand modern retailers; chef-driven dining destinations with abundant outdoor, garden and rooftop seating that celebrate the magnificent outdoor setting; a first-to-market, specialty Class-AA+ office tower and FENDI Private Residences, which is the first ground-up residential enclave in North America with 41 bespoke residences. Completion of the second phase is expected by the end of 2024.
Set in an open-air environment, The Palmeraie is designed to create a series of indoor and outdoor spaces and vignettes blurring the lines between architecture, landscape and human interaction with a series of interconnected experiences linked together across the entire district. With its vibrant colors, diverse textures and architectural shapes, the lush landscaping at The Palmeraie is the yin to the modern architecture’s yang, enhancing the look, feel and sense of place. There will be an unexpected visual interplay of experiences sprinkled throughout the planted “Green Walls”, vine-covered trellises and lavishly planted outdoor spaces such as the focal water gardens. Groves of flowering evergreen trees combined with soaring palm trees create a shaded, idyllic atmosphere. Where luxe meets lush, The Palmeraie forges a new oasis and aesthetic for Scottsdale.