The luxury food, hospitality and leisure group will make its debut in the Italian fashion capital with an ambitious project to be officially unveiled in 2021.
The group, which operates hotels and restaurants in key locations around the world, including Venice, New York, Miami, London, Dubai and Hong Kong, to cite a few, signed an agreement with Italian real estate development firm Merope Asset Management to rent Palazzo Bernasconi, a Milanese palazzo located at the corner of Corso Venezia and Via Palestro.
The four-story building, which Merope Asset Management acquired in 2018 and is currently under renovation, spans a surface area of 43,066 square feet.
The new Cipriani project in Milan will count two restaurants, a boutique hotel, a bar club, a wellness center and a fitness club.
“Cipriani was born in Venice in 1931 with the Harry’s Bar and then expanded globally,” said Giuseppe Cipriani, who manages the international arm of the group. )The Harry’s Bar and Harry’s Dolci in Venice are still controlled by Giuseppe’s father Arrigo Cipriani.) “Now, we return to Italy, specifically in Milan, with an innovative concept combining food, high-end hospitality and leisure. To open in Milan, it was crucial for us to find a location meeting our expectations and Palazzo Bernasconi has all the characteristics we were looking for. Milan is booming and the Cipriani Group wants to be part of this exceptional development of the city.”
In 2018, Giuseppe Cipriani oversaw a financial operation, which enabled the family to buy back Cipriani International from private equity fund Blue Sky for a sum of $40 million.