Moschino signed as the first tenant of the new Milan Spiga 26 project by Hines – WWD

MILAN – Via Spiga is making a comeback.

The world’s leading real estate company Hines is restoring the 18th-century Palazzo Pertusati in Milan’s central street as part of the Spiga 26 project and secured Moschino as the first tenant. The fact that such a current brand has chosen Spiga 26 shows how innovative the new real estate company is aiming to be.

“We have chosen a spacious location on several levels that offers a strong visual impact from the street, to represent not only our love for Milan, which has always been the heart of the Moschino fashion house, but also our faith in this project” , said Stefano Secchi. , Managing Director of Moschino. “This space, which will be the brand’s main flagship in the world, also reflects the major changes and investments that the house has made in recent months, despite the pandemic. Given the strength of the brand, we look with confidence and with high expectations to the future, starting right here in Milan.

The new Moschino boutique will span three floors of over 6,480 square feet, designed by Andrea Tognon and his eponymous architecture studio, “an important name in the world of retail and luxury,” said Secchi , under the direct supervision of Creative Director Jeremy Scott.

The building housing the store spans 140,400 square feet, developed over three mixed-use levels, and will have two entrances, one on Via Spiga 26, with three floors above ground and one in the basement. The other entrance is on Via Senato 19, with seven floors above ground level and two in the basement.

The main entrance to Via Spiga is characterized by 18 floor-to-ceiling windows spanning over 213 feet. In the building, 32,400 square feet will be dedicated to retail and the spaces inside will be connected by a green central courtyard of 1,944 square feet.

In the courtyard of the Spiga 26.
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“We really believe in this project, Via Spiga is a Milanese icon and needed to be relaunched”, explained Mario Abbadessa, Managing Director of Hines and Country Manager Italy.

Following the closure of stores during the pandemic and the exit of several brands from the streets in recent years, the cobbled and pedestrianized Via Spiga is undergoing an overhaul, with the recent opening of Ralph Lauren’s new flagship and restaurant, and The Rocco Forte’s The Carlton Milano hotel, due in 2023. A few steps from Corso Venezia, a new hotel owned by the Ferragamo family is slated to open next year.

“This is a repositioning of the street, which is not inferior to Via Montenapoleone, but a sophisticated alternative to it,” Abbadessa stressed.

“Via della Spiga is still the most beautiful shopping and fashion street in Milan. We know it will recover and this project will be the icon of its renewal, not only for shopping, but for the 360 ​​degree experience it can offer, ”said Secchi. “In this very complex period, where the world of retail has been particularly impacted and rapidly changing dynamics, it is essential to be able to rely on a lessor who is also a commercial partner, with flexibility and foresight. We chose Hines because we immediately perceived this approach and this openness, qualities rare these days. We believe deeply in this project and we wanted to be the first to send a strong message.

Hines purchased the Spiga 26 building as part of a joint venture with a large Dutch pension fund manager in June 2019 and the renovation, which started last year, is expected to be completed in spring 2022, with an investment total of 250 million euros, said Abbadesse.

Commercial spaces can be single or multi-tenant with flexible and functional layouts, and there will be terraces and locations for events. There will also be a restaurant, club and gym available from the Via Senato entrance.

Spiga 26

A rendering of the entry of Spiga 26.
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“From its very beginnings Moschino has been known for its innovative spirit and its ubiquitous and unconventional creativity in the lifestyle sector, which we believe is in perfect harmony with our project,” said Abbadessa. “In fact, with Spiga 26, we aim to create a space with a unique identity in the retail world, an experiential space characterized by the cross-contamination between fashion, design, culture, food and business, in a historic street that is synonymous with elegance, even on an international level, and that, like Hines, we are reactivating with a calendar full of artistic, cultural and community engagement initiatives dedicated to the promotion of its attractive potential.

As reported, in July, Aeffe decided to acquire the 30 percent stake in Moschino that it did not already own. of Sinv Holding SpA, Sinv Real Estate SpA. and Sinv Lab Srl, for more than 66.5 million euros, with the aim of further developing the label.

The Italian fashion group is listed on the STAR segment of the Italian Stock Exchange and, besides Moschino, its stable of brands includes Alberta Ferretti, Philosophy di Lorenzo Serafini and Pollini.

Aeffe saw a strong acceleration in the first nine months of the year, leading the Italian fashion company to post a net profit of 23.2 million euros against a net loss of 14 million euros. for the same period last year, and a turnover of 250 million euros. euros, up 20.9% compared to last year, driven by double-digit growth in all of its markets.

Moschino is designed by Scott, who added a contemporary twist to the ironic looks that have shaped the brand’s heritage by tapping into today’s pop iconography. Scott’s skills and social connections have contributed to the success of the brand, as have his sensitivity to art and music, his ability to speak to a younger generation, and his relationship with celebrities, ranging from Rihanna and Katy Perry to Miley Cyrus.

Hines, which is a private global real estate investment company founded in 1957 with a presence in 255 cities in 27 countries, has invested in building through a real estate fund managed by Savills Investment Management SGR SpA, and it has been designed and organized by Scandurra Studio Architettura and SCE project.

The upper floors will be converted into exclusive and innovative office spaces, meeting high standards of environmental sustainability and energy efficiency, and Spiga 26 aims to achieve LEED Gold certification, thanks to the measures put in place to qualify as a sustainable site.

Hines oversees investment assets under management valued at approximately $ 83.6 billion and provides third-party real estate-level services to over 367 properties totaling 138.3 million square feet. Hines is also working on the restructuring of the post-rationalist and brutalist Torre Velasca of the 1950s in Milan.

With Spiga 26, Hines has become the promoter of a series of cultural initiatives featuring the street and Milan, aimed at transforming the urban fabric into an artistic place.

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