What: Ferragamo’s hotel management company, Lungarno Collection, will open a five-star hotel in an area extending over 10,000 square metres in the heart of Milan.

Why it is important: The retailer plans to create a luxury and lifestyle hub in this central Milanese location where they will host Ferragamo’s third hotel, a gourmet restaurant, wellness centre, a huge garden, and exclusive stores.

Among the exclusive stores will be the iconic multi-brand fashion retailer Antonia, which will be their second store in Milan.

The building was built in 1564 as one of the oldest seminaries in Europe. It has been unused since 2002, and is now undergoing extensive renovation work. The project has been commissioned by architect Michele de Lucci, and the complex is expected to become fully operational by the end of 2022.

Ferragamo moves into hospitality