The shops. The hotel. The residences. The dining. The building and vision of the $2 billion, much-anticipated, visionary project The Palmarie, located on the border of Scottsdale and Paradise Valley, has been slowly coming to fruition, with a phase of the project scheduled to open in early 2023.
The new driving vision behind the marketing for the project? Riccardo Vannetti, formerly the chief marketing officer of the luxury fashion house of Ferragamo. Vannetti recently accepted the role to lead the marketing and branding vision as chief brand & digital transformation officer for The Palmeraie’s 122-acre luxury shopping, dining, and entertainment destination located on the border of Scottsdale and Paradise Valley.
When completed, the destination will feature specialty boutiques and in-demand retailers, chef-driven dining destinations, an office tower, the FENDI Private Residences, a Ritz-Carlton resort, Ritz-Carlton Residences Villas, single-family Ritz-Carlton Residences Estate Homes, and more.
We caught up with Vannetti to chat about his new role.
You were previously with the luxury fashion house of Ferragamo and now are working with The Palmeraie here in Scottsdale … what was the draw to take this role?
I had heard about The Palmeraie before the pandemic when I was chief marketing officer at Salvatore Ferragamo, and I attended a cocktail party during Milan Fashion Week that was hosted by Mr. Jerry Ayoub and the Five Star Development team. This was shortly before the Covid era began, which was a real earthquake for the luxury fashion industry. Markets that were driving business for the major brands either disappeared or become truly significant, and in the international crisis, I saw that there was an opportunity within The Palmeraie. So, after meeting with Mr. Ayoub again a few months ago, he dedicated to me a couple of days presenting the project in detail, describing his passion and his dream for the past 15 years, and I immediately felt his honesty and full dedication as a businessman. I like the project’s concept and unique challenges, and I like authentic people. So, those are basically the two reasons I was drawn to the role.
What is the vision for The Palmeraie?
The Palmeraie is going to be a totally unique destination, one that doesn’t exist in any other market. It will be another option for both residents and visitors who are sophisticated and enjoy the finer things in life. They can shop and travel anywhere in the world, yet we’ll have the opportunity to engage with them right here.
What makes this destination so attractive and unique?
First of all: The destination—Arizona, Scottsdale, and Paradise Valley, that is—is already unique unto itself. But secondly, we are working hard to offer both locals and visitors a wide array of experiences, from shopping to restaurants, private clubs and health and wellness, all housed within and surrounded by a lush, green oasis.
What are you most excited about for this role?
The owner of The Palmeraie, Mr. Jerry Ayoub is a simple and honest man. He is a visionary entrepreneur, and he has been able to transmit to me his passion for the beauty that he is trying to bring to Scottsdale and Paradise Valley. I think that this destination deserves more; the people who live here deserve something more elevated with a different kind of sophistication. I envision The Palmeraie functioning like their backyard—full of opportunities and a place where they can create memories and spend quality time.
Why should locals be getting excited about this new destination?
As an Italian man who has been in this industry many years, I have style, beauty, and well-being in my DNA, and what I can tell you is that we have a clear vision for what that means and how to create a destination that will be truly terrific in its offering of that lifestyle.