Business | Opinion
Channel Sponsor
Looking beyond the names of celebrities
The branding, or more precisely the brand association, of celebrities with products is not a new phenomenon and more importantly, neither is the celebrity-endorsement of developments in Dubai.
- By Ryan Mahoney, Special to Gulf News
- Published: 00:07 July 4, 2008
Is Boris Becker to buildings what Michael Jordan was to shoes?
The branding, or more precisely the brand association, of celebrities with products is not a new phenomenon and more importantly, neither is the celebrity-endorsement of developments in Dubai. For a couple of years now, local investors and home owners have seen signature Tiger Woods golf course developments, Armani Hotels, and Maria Sharapova's endorsement of the Dh2.4 billion Dubai Lifestyle City, spring to life.
Why celebrities? Well, they have that public recognition. Buyer's can associate with them. So it is an attempt to stimulate a sort of visual, or cultural image they can associate with the development in the above cases.
However, celebrity-endorsed developments, have taken an about turn over the past year. In the scenarios above, the celebrity endorsing the product has some association to the product they are endorsing. Woods equals golf, Sharapova endorsed the tennis facility at the Lifestyle City and Armani is design.
By comparison, what we have seen lately is celebrity endorsement of just buildings. Business Towers have been associated with sports stars like Boris Becker. This has been taken to another level with the recent announcement that Brad Pitt, who is a consultant at Los Angeles-based architecture firm Graft, will be helping design a five-star Zabeel resort. This connection will be shaped by how much input Brad Pitt actually gives on the project. Dubai is also not the only emirate to buy into to this phenomenon; Arab superstar Omar Sharif has endorsed the Dh220 million Al Zorah coastal development in Ajman. With so many projects in the pipeline the endorsement is the differentiation, as behind the curtain, the developments all offer similar amenities and facilities. The celebrities add the glamour ingredient.
Don't get me wrong, this type of sales tool is working wonders for the developers. These developments are being sold out within weeks of being launched. They seem to cut across what is an extremely cluttered real estate market. But you have to ask yourself, what do any of these stars know about the Dubai property market? What reassurance do they bring to buyers?
Memorable purchase
It is hard to depict the value-add a celebrity endorsement brings. On the one hand the celebrity does not have any real expertise on the building side but then it does make a buyer's purchase more memorable. It is also a fast track to credibility for the developers, who in a very congested space where every man and his dog is a developer, is imperative.
The onus must then fall on the developers to live up to the hype. These companies must look beyond the names of their products and deliver them in due time and of the highest standard. Only then can the city and developers gain international credibility in its true sense.
What if something goes wrong with the development? Is the way forward going for the highest bidder in the short-term only to find that the end product does not live up to the hype. Should something go wrong, the property could devalue just as quickly as it gained. So it can be detrimental to both the celebrity and the developer if the association is short-term.
When buying into a celebrity branded product, be cautious with what you endorse, and stick to celebrities that have relevance or brand quality. Buyers must not be naive and close on a deal based on emotional attachments to a favourite star.
So no, Boris Becker is not to buildings what Michael Jordan was to shoes.
The writer is managing director of Better Homes.
Share this article
More from Business Opinion
More from Business
Popular in Business
-
Budget travel
Airlines in the region
Take a pictorial look at some of the budget airlines in GCC
Business Editor's choice
-
Experts seek solutions to global gloom
Suggestions formulated in Dubai will feature in next year's WEF
-
Qatar benefits from diversification
Doha's readiness to look beyond hydrocarbons as a growth engine bodes well
-
When the Web lives worldwide
Cutting-edge firms are building massive data facilities all over the globe
