Chennai December , 2017 : Retailers’ Association of India (RAI),the apex body of retailers todayhosted the seventh edition of The Chennai Retail Summit 2017, its premier conference focussed on retail business in South India.Retailers in the region have always been at the forefront of retail, having given the nation many iconic brands such as Nalli Silks, Lulu Mall, Viveks and Nilgiris among others. They have managed to adapt their business to the changing times due to sound business principals based on solid values. Recognising the role of a strong value system in business growth, the CRS 2017 focused around the theme ‘Values, Value and Valuation’.
“South India is full of modern retailers who have very strong value systems and who have been committed to customer service excellence. Many of them have been in existence for more than 50 years, thanks to their deep set customer-centric values. The Chennai Retail Summit aimed to explore various aspects of retailing that contribute towards creation of value in the retail ecosystem. This leads towards improved valuation, which is important today as the retail market is at a juncture where growth would need a lot more capital. GST has made it one market and hence competition will now be not just from overseas but also from all across India. In such a scenario, values is what will help retailers deliver value, get the competitive edge as well as required valuation,” said Kumar Rajagopalan, CEO, Retailers Association of India speaking about the theme.
This year, Virtuous Retail South Asia Pvt. Ltd., India’s largest institutionally owned developer-operator of lifestyle shopping centers was the presenting partner for the Summit. The companywill be launchingits flagship retail center VR Chennai in 2018. “Virtuous Retail combines global expertise and local knowledge to create high performance retail environments with strong urban connections. We have envisaged VR Chennai as a premium lifestyle, destination, where people will congregate not just for shopping and entertainment, but also for celebrations and events. VR Chennai is a community destination where we
will institute unique and appealing cultural programmes, along with world-class retailers and sought-after brands. We look forward to having many retailers from the city at VR Chennai to add to its vibrancy, making VR Chennai an economic, social and cultural landmark. Virtuous Retail is happy to associate with RAI to present our world-class shopping centre at the prestigious Chennai Retail Summit 2017,” said Rohit George, Managing Director, Virtuous Retail South Asia.
Over the years, the Summit has had iconic speakers including Dr. Nalli Kuppuswami Chetti, Founder, Nalli Slik Sarees deliver the keynote address.This year’s keynote was delivered by Dr A Velumani, Creator & Managing Director, Thyrocare. “A business running on strong values, and that adds value to the lives of consumers will always have strong valuation—this is the resounding message of Chennai Retail Summit. My business in wellness giving an accurate value of biochemical levels in blood, is the value for the consumer. To do that, I focused on values that bind the employees, vendors and investors. This resulted in a huge brand around the ‘Gland’ that gave a valuation that all investors could enjoy and cherish. CRS is a great forum for retailers to learn about many such important fundamentals of growing a business,” he said in his address.
CRS is known as the source of insights on topics that are relevant to retailers. The themes that dominated the discussions at CRS 2017 are as follows:
- Values, Value, Valuation
- Private Equity for growth in Retail Business
- Women in Retail: Empower, Encourage, Entrust
- Rethinking HR: Modern day Approaches to Recruitment, Retention and Engagement
- Special Session on Family Managed Business – Changing with the Times
With focus on relevant issues, the CRS 2017 provided an excellent platform for those with businesses interest in the region to network, exchange ideas and explore potential opportunities to work together and grow together.
About Retailers Association of India:
Retailers Association of India (RAI) is the unified voice of Indian retailers. RAI works with all the stakeholders for creating the right environment for the growth of the modern retail industry in India. It is a strong advocate for retailing in India and works with all levels of government and stakeholders with the aim to support employment growth and career opportunities in retail, to promote and sustain retail investments in communities from coast-to-coast, and to enhance consumer choice and industry competitiveness.