Trump brand and luxury residential tower for India
Billionaire property developer Donald Trump is expected to unveil his first luxury project in India in March.
The US real estate entrepreneur first indicated that he was interested in the Indian market two years ago but the global economic downturn meant that he wanted to do more research to make sure the market was ready.
The Trump organisation will team up with Mumbai developer Rohan Lifescapes to develop a luxury Trump branded tower. A spokesman at his office in New York confirmed that a project would be unveiled in March but was unable to give details.
Two years ago his son, Donald Trump Junior said that the company was looking to see if India was the right market for the Trump brand. He said they were setting aside up to $1 billion to develop projects in the country.
‘The market place is beginning to understand and appreciate luxury, so there is a great opening for us there, as well as in resorts,’ he said at the time.
‘Our entry has to be in Mumbai and that’s where everything is going on right now in terms of the high-end real estate. That’s the place where one is going to achieve the highest prices per square foot. It sets the tone for all of the other future developments,’ he added.
Trump will be following in the footsteps of other luxury brands such as Versace and Gucci who are involved in designing luxury real estate in India.
Trump already has branded luxury residential towers around the world. Mumbai has some of the most expensive real estate in India. Rohan Lifescapes has developed more than 20 million square feet of homes and offices in the city and is currently developing another 3.45 million square feet of projects in Mumbai.
Trump has also teamed up Bradford License India, a leader in brand licensing, to introduce the Trump brand to the emerging Indian market. ‘Together they will develop a bevy of products under new partnerships that reflect Donald Trump’s signature attention‐to‐detail and high quality standards at an affordable price point,’ said Cathy Hoffman Glosser, executive vice president of global licensing for The Trump Organization.
BLI will focus on expanding the Trump brand into apparel, fashion accessories and home and lifestyle products inspired by his luxury properties around the world. All Trump products will represent ‘affordable luxury’, the notion that one can live richly without spending a fortune, she added.
‘Our brand message of affordable luxury resonates with consumers worldwide and India is no exception. Partnering with BLI on this initiative allows us to create specialized Trump‐branded products that appeal to the tastes and sensibilities of the Indian consumer,’ she explained.
Milin Shah, vice president of business development for Bradford License India, said that the agreement gives Indian consumers the opportunity to be part of that lifestyle.