MUMBAI (Reuters) — India on Thursday proposed allowing foreign retailers, who manufacture products in the country, to sell via e-commerce platforms, a step towards liberalizing foreign investment in the country's $13 billion e-commerce sector.
The move is likely to benefit the local units of retailers such as Marks & Spencer Group Plc, Nike Inc, Puma SE and Benetton Group Spa among others, who currently sell online in India through local franchisees or licensing agents.
The proposal, presented by Finance Minister Arun Jaitley as part of his federal budget for the fiscal year through March 2015, will also end the ambiguity around who can sell their products using online platforms, industry consultants said.
Jaitley in his budget speech said manufacturing units will be allowed to sell products through retail channels, including e-commerce platforms, without any additional approvals. India allows 100 percent foreign investment in manufacturing barring a few areas such as defence.
"The move to relax FDI rules in e-commerce for manufactured goods by foreign retailers is a very important step in helping the e-commerce industry grow," said Paresh Parekh, tax partner for retail and consumer products at consultancy EY.
Reuters last month reported India could allow global online retailers such as Amazon.com Inc to sell their own products as early as July, removing restrictions that have held back competition in one of the world's biggest, and most price-sensitive, retail markets.
Small Indian traders have organised a protest rally against the possible impact of such a decision on the livelihoods of small "bricks and mortar" retailers.
“Azzedine has been one of the biggest influences in my life. He has always been such a strong, loving, fatherly figure to me. I call him Papa. His designs are indescribably unique, they are pieces of art. He knew how to make the female form look its loveliest. I have so many memories of him; my favorite might be during my first show with him in Paris. He liked me and he wanted to help me get more work. He called all his friends at Kenzo and Comme des Garcons, and asked them to book me. They said, ‘But she can’t walk!’ And he said, ‘but she has such a great ass!' His friendship and support has been the great privilege of my career. I can't imagine life without him. Repose en paix mon Papa.” - @stephanieseymour tells @wwd. #wwdfashion (📷: @steveeichner) #alaia #azzedinealaia
Azzedine Alaïa, flanked by two of his closest friends, models Stephanie Seymour and Naomi Campbell.
He designed Seymour’s dress for her 1995 wedding to Peter Brant, and treated Campbell (who famously called him Papa), like a daughter. For more on the legendary designer, tap the link in bio. #wwdfashion #alaia #azzedinealaia
Azzedine Alaïa's “I-did-it-my-way” ethos stood out starkly at a time when brands are experimenting with consumer-facing fashion shows, coed formats and trans-seasonal collections – anything to perk up lackluster sales of ready-to-wear in an age of Insta-everything. “It’s not creation anymore. This becomes a purely industrial approach,” the late designer told WWD in an interview last year. “But anyway, the rhythm of collections is so stupid. It’s unsustainable. There are too many collections.” Read more about the iconic designer’s life and work on wwd.com, link in bio. #wwdfashion #azzedinealaia (📷: @WWD Archive, 1986) #alaia
Sneaker reselling app @goat’s latest exhibit, "The Greatest: New York," tells the story of New York's sneaker culture. To celebrate the exhibit, an intimate crowd gathered on Thursday night at the pop-up gallery space, located at Platform in Culver City, to hear guest speaker and illustrator @esymai talk about her own rise in streetwear and women in the business. "For me I'm just someone who is creative. I like to create things," said Chang. #wwdfashion
Azzedine Alaïa, one of the most iconic couturiers of the modern era whose body-con designs defined Eighties fashion, has died in Paris. The diminutive Tunisian-born designer, known for his structured knitted dresses with fitted waists and impeccably cut, figure-hugging second skin silhouettes was deeply admired by his peers, and counted supermodel Naomi Campbell - his adoptive daughter - among his inner circle, one of a gang of glamazons including Farida Khelfa, Carla Bruni and Stephanie Seymour who became ambassadors of his style. (📷: Alexandre Guirkinger) #wwdblast