There is a "growing list of luxury brands hoping to use real estate to turn their cultural cachet into cold, hard cash," said Business Insider. Italian automaker Pagani — which produces cars with multimillion-dollar price tags — recently "unveiled plans for Pagani Residences, a 70-unit condo development in Miami's North Bay Village." These condos, similar to their cars, will sell at around the $3 million range.
Pagani is just the "latest high-end car brand to lend its name to a shiny condo project along the Miami coast," joining Mercedes-Benz, Porsche, Aston Martin and Bentley, said Business Insider. Non-auto brands venturing into the condominium market reportedly include the Italian eatery Carbone, Dolce & Gabbana and Elle magazine.
Branded residential property is just one avenue. Luxury brands are also "racing to buy properties on the world's most famous shopping streets" because they "fear that, if they don't buy their flagship store from the landlord, one of their rivals will do so and send them packing," said The Wall Street Journal. LVMH, which owns brands like Louis Vuitton, Dior and Hennessy, has "become a major developer," The Nation said, buying up "coveted buildings on Fifth Avenue in New York and the Champs-Élysées in Paris."
Building in these high-rent spaces is important to top retailers because it caters to a new generation of consumers who "signal on their social media feeds, on their TikTok accounts that they are in the know and in with these luxury brands," Rebekah Kondrat of Rekon Retail said to The Real Deal. | 
