Every rebranding is an opportunity to communicate a company’s identity to its partners and custmomers. Joivy is no different.
Italian property management firm DoveVivo group, and its affiliate brands, including UK-based Altido and French accommodation brand Chez Nestor, are coming together under a single rebranded name – Joivy.
This joint entity will offer student housing, short term rentals, multifamily apartments, and co-working spaces. Presently, the group operates 4,000 units located in 50 destinations and six countries — all in Europe.
The branded assets transition would be completed by early next year. The aim of this rebranding is also to communicate its new brand identity to B2B partners — landlords.
“What is really going to be the change in the branding side is that we’re finally going to be able to present ourselves as a multi-service company for both landlords and tenants,” said Giulio Limongelli, managing director at DoveVivo. “DoveVivo started as a co-living brand in Italy and Altido as short-term lets in the UK, and now we’re finally covering all the segments of residential real estate.”
Limongelli said that the group’s revenue grew from 40 million euros ($43 million) to projected 110 million euros ($120 million) in 2023.
The purpose of the rebrand is to cement the company’s culture and identity to reflect its global operations.
“It’s important externally that we present a united front in a more accessible, easily understood way rather than a group with arms and legs which have predominantly come through an acquisition,” Altido CEO William Parry said. “One of the most important things of bringing a group together was having one identity particularly when you have legacy businesses which have come out of their own identity, their own culture. So you really feel like a part of a group rather than working in a particular silo.”
In terms of expansion plans, both Parry and Limongelli agreed that the group has its plate full with its business in Europe and will continue focusing on regional expansion. For instance, to the Nordic countries and central Europe.
“It depends a lot on how the market and the product evolves after the reunification,” Limongelli said. “Our ability would be to scale the model in every possible geography, but keep in mind that Europe already has tremendous opportunities for us. So there is no need to expand to the US or Asia because I think we have enough on our plate already.”