Domesticity’s Goddess Martha Stewart wants in on the senior housing space. Martha Stewart’s living brand ‘Marquee Brands’, is in the process of partnering with Brands Lab International (the branding firm for global real estate) in order to have more real estate projects developed and includes assisted living being categorized as a Stewart Brand.
The Real Deal of the real estate trade journal was first to report this news and the Brands Lab International’s CEO and Founder ‘Florian Haffa’ has made a confirmation to the Senior Housing News saying that, “Assisted living will be included as one of the product types to be pursued.”
The headquarters for Marquee Brands is in New York City. The Marquee Brand is also the owner of lifestyle brands and others such as Ben Sherman’s fashion brand for men, Dakine (outdoor clothing), Body Glove (maker of water sports apparel), and Bruno Magli (shoemaker).
Brands Lab International, based out of Miami, is a facilitator, the go-between for luxury brands, and the real estate developers in order to keep brand design aesthetics at the higher level of real estate projects all over the world.
The Marquee Brands took over the brands of celebrity chef Emeril Lagasse and Stewart back in April, and they belong to Sequential Brands Group prior to that. The deal was costly, which set Marquee back $175 million dollars, and if the brand’s performance turns out as suspected, there will be another $40 million in it for Sequential Brands. Sequential is the one who purchased Martha Stewarts ‘Living Omnimedia for the outrageous price of $355 million back in the year of 2015. Marquee happened to be waiting when Sequential’s main licensee Kmart collapsed and the ordeal Stewart faced in 2004 with the conviction on the inside trading episode, making the company plummet and land in the hands of Marquee for a small premium.
However, it was the belief of Haffa that the Stewart name still consisted of plenty of marketability to be successful in real estate. Besides assisted living, Brands International has been conversing with developers regarding different products, such as townhomes, condo’s, mixed communities, and single-family homes within the United States, Asia, and Europe. All the design plans are to include Stewart.
Haffa has not given SHN any specific developers, product types, or target markets. Should this turn out to be successful, Stewart will be the second well-known celebrity to own a senior housing brand. Jimmy Buffet’s (singer and songwriter) Margaritaville holdings had partnered up with Minto Communities, USA, including St. Joe (NYSE: JOE) in order to use the Margaritaville Latitude Banner to develop active adult communities under it. As of today, there are two different Margarita Latitude communities up and operating, which are in Daytona Beach, Florida and at Hilton Head, South Carolina. There is a third community being developed currently, which is in Bay County, Florida.
Deepak Chopra, Oprah Winfrey’s happiness guru designed some units directly across from the Porsche Tower, a Miami property that is affiliated to the Porsche brand. It was proposed by an SHN op-ed only last year that the most logical celebrity for a senior living brand would be Martha Stewart.
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