Armani signs deal for an Armani Tower residential complex in Mumbai
Giorgio Armani SpA has signed a new collaboration with Indian real estate company Supertech for the development of a 100 unit ARMANI TOWER in Mumbai. Supertech is known for developing most of offices and residential buildings in Noida, Mumbai’s new business district, including the luxury Sofitel Hotel opened last year.
Spread over 4,00,000 sq ft, the Armani Tower in Supertech’s luxury project Supernova, will comprise 100 luxury residential units. The interiors and furniture will all be done by Armani. Supertech is paying Armani a one-time fee for exclusive rights. “With this exclusive rights deal, Armani cannot tie up with any other north Indian developer for a similar concept,” said R K Arora, chairman and managing director of Supertech told the Business Standard daily.
The new deal comes only a year after the first Armani project in Mumbai, The World Towers, developed by the Lodha Group, which is currently under construction.