BBA News

BBA Breaking News (via WWD): GIORGIO IN INDIA Giorgio Armani is set to put his signature on Mumbai’s skyline. The designer has inked an agreement with Gruppo Lodha, a leading Indian real estate developer, to design and furnish both the apartments and the common spaces of the World Towers residential complex. Located in Upper Worli, an upscale area in the heart of Mumbai, the new digs, to be unveiled in 2015, will include World One, a 117-story skyscraper, which will be the tallest residential tower in the world, along with a shorter twin building, called World Crest. Custom Armani Casa furniture will be provided for the World Residences featuring three to four bedrooms; the World Villas with private swimming pools, and the World Mansions, two-story flats with private swimming pools, gyms and lifts.

BBA News: India Adopts FDI Retail Rule

WWD: The Indian government yesterday passed a notification that allowed foreign firms to wholly own single-brand retail chains in India. The change initially was proposed by the government cabinet on Nov. 24 and comes on the heels (literally) of Christian Louboutin's proposal to set-up retail chains in the country. However, the government has stipulated that certain conditions will need to be met before allowing sole ownership. The most important of these is that the company will need to source 30 percent of its goods from Indian small, village and cottage industries and artisans.

Although we do have a tendency to be slow by nature, I personally love the fact that they took their time to make this decision and it includes the 30 percent source rule. Most luxury brands won't change their manufacturing partners, but it's important that the government protects and promotes Indian communities and artisans. It also helps India's image as a country that has the manufacturing skill and talent.