As I read the business papers these days, I am reminded of Winston Churchil, who said, “If you have ten thousand regulations, you destroy all respect for the law.” I am referring to the recent pronouncement by the Government to permit 100% FDI in single brand retail operations. While this is most heartening and welcome, the problem is that the law has been saddled with clauses that are clouded with ambiguity, especially the clause that mandates 30% of the value of the product to be sourced locally if the FDI is more than 51%. The Govt now says the cutting edge technology and state of the art products will be exempt from this stipulation, but does not specify how these criteria will be measured and identified. Allowing 100% FDI in retail will provide enormous impetus to the luxury market, which measures and markets itself on purely qualitative aspects. So, one hopes that clarifications are issued sooner rather than later.
Meanwhile, as we gently drift from a hotter than ever summer to a possibly wetter than usual monsoon, the restless peregrines among you may be already casting about for likely destinations for your winter vacation. The earlier the plan, the better the experience, is an aphorism that has proved its worth in the travel arena. And we have made it easier for you to finalise plans sooner by featuring some of the finest options to indulge your winter wanderlust in this issue of The Luxury Collection. From the sunny climes of Brazil to the historical wonders of Ethiopia, we bring you a smorgasbord of holidays to choose from.
The Deutsche Tourenwagen Masters, or DTM races, as they are popularly known, are a passion in Europe, especially in Germany. Many drivers use this series as a launch pad to jumpstart their racing careers and enter a Formula 1 team, as well. The world’s premier names, among them Mercedes Benz, Audi and BMW, face off against each other over several races spread over months and vie for supremacy. This issue brings you a special report on this year’s DTM season, which is currently underway.
While on the subject of cars, BMW is celebrating their centenary this year and what better way to do it than by launching a new car? The BMW Vision Next 100 car basically presents a view of the future as seen by BMW, and believe me, it is a future that I would give an arm to be a part of! Well, we have dissected the Vision Next 100 for you right down to its fine minutiae, so that you can enjoy it vicariously through these pages before, perhaps, adorning your home with it.
Finally, before I leave you to enjoy your issue of The Luxury Collection, I would like to give you heads up on Art Bengaluru. This year’s edition of India’s premier international festival of the arts will be held between the 19th and 28th of August. More information will come to you in due course via the Art Bengaluru App, so if you haven’t downloaded it already please do so right away!
Happy reading and happier shopping!