Monocle Is Creating Luxury Properties Pulled From The Pages Of Its Magazine

Monocle Is Creating Luxury Properties Pulled From The Pages Of Its Magazine
Advertising

The swanky lifestyle magazine could launch apartments in as many as a dozen cities around the globe

Matt Vitone
  • 22 november 2017

UK magazine Monocle has for years devoted itself to giving its readers the best advice on how to furnish their apartments, and now the luxury lifestyle brand has announced that it will soon veer into the world of high-end property development with its own branded apartments in cities around the world.

The first project will be set in Bangkok and is being developed through a partnership with Sansiri, a Thai real estate developer which last week purchased a 12.5% stake in Monocle valued at $6 million. According Tyler Brûlé, Monocle founder and chairman, the design of the apartments will be inspired by the sleek design spreads found in the pages of its magazine, as well as its affluent, global readership.

“We won’t be creating Monocle Towers,” he said in an interview with the Guardian. “We will create a new identity. It will be completely fresh. [But] we will use our readership base and design for them.”

Brûlé notes that if the Bangkok project goes well, the magazine has plans to launch properties in an additional 10 to 12 locales around the globe. These locations would be popular hotpots with Monocle’s nearly 82,000 global readers, most of whom are well-traveled individuals in their late 30’s and early 40’s with large amounts of disposable income.

Through its new real estate venture, Monocle exemplifies a growing trend of diversification within the media industry, which continues to undergo drastic changes in the face of traditional revenue sources like subscriptions and advertising drying up. Brûlé says that while the majority of Monocle’s business is still driven by advertising, about 30 to 40 percent of revenue comes from “special partnerships” like the deal with Sansiri.

Monocle also joins a growing list of luxury brands that are leveraging their influence and authority with wealthier patrons to enter the lucrative real-estate business. Be it Armani, who owns luxury towers in Miami and Dubai, or Bulgari, who recently opened a Bulgari-branded hotel and residences in London’s pricey Knightsbridge neighborhood, branded real-estate creates an elusive experience that consumers are able to trust based on their previous relationship with a particular brand.

Monocle

UK magazine Monocle has for years devoted itself to giving its readers the best advice on how to furnish their apartments, and now the luxury lifestyle brand has announced that it will soon veer into the world of high-end property development with its own branded apartments in cities around the world.

+advertising
+Brand Introduction
+cities
+Design
+Europe
+Fashion
+hospitality
+Luxury
+Media & Publishing
+monocle
+publishing
+real estate
+retail
+UK
+USA

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