Retail’s Brightest Minds Convene at Retail Leadership Summit 2024 to Forge Future Pathways

March 4, 2024, Mumbai: The Retail Leadership Summit 2024 (RLS 2024), organised by the Retailers Association of India (RAI), took place on February 28 and 29 at the Hotel Westin Powai Lake, Mumbai. This annual event brings together the brightest minds in retail to explore forward-thinking strategies within the industry.

Welcoming the audience at RLS 2024, Kumar Rajagopalan, Chief Executive Officer, Retailers Association of India (RAI), said, “In 2023, the retail industry witnessed a tale of two halves: robust growth initially, followed by a plateau. This reflects the criticality of aligning with market dynamics and consumer needs. We’re observing a transformative shift, with retailers blending digital and physical experiences to create seamless consumer journeys. The key to future success lies in harnessing the power of omnichannel strategies and understanding the evolving consumer preference for convenience and trust. As we move forward, embracing innovation and agile responses to market trends will be pivotal in shaping the retail landscape.”

Setting the tone for the summit, Bijou Kurien, Chairman, Retailers Association of India (RAI), expressed,  “The retail industry in India is poised for significant growth in the year ahead. Driven by an 8%+ growth in GDP in Q3 FY’24 and based on steady investment by the Government and Private sector, consumption is bound to grow. The combination of online commerce coupled with offline expansion, driven by a more technology savvy consumer with greater aspirations would herald significant changes in retail structure, and channel strategy. Retailers and brands are gearing up for aggressive growth, particularly eyeing tier 2 cities for deeper market penetration. This strategic focus not only indicates a broadening of access for consumers but also signifies a shift towards tapping into the burgeoning demand in emerging urban centres. This optimistic outlook underscores the sector’s resilience and its pivotal role in the broader economic landscape of India.”

Highlights of RLS 2024 included presentations and knowledge reports by RAI-Boston Consulting Group report titled ‘Unlocking the $2Tn retail opportunity by 2030: An activist agenda’, RAI-Deloitte report titled ‘Future of Retail: Profitable Growth through Technology and AI’, RAI-KPMG report titled ‘Achieving seamless commerce in India’ and PWC report titled ‘How India shops online: Consumer preferences in the metropolises and tier-1, 2, 3, 4 cities’. Furthermore, Best Retail Workplaces 2024 report by RAI – Great Place To Work was unveiled and the respective teams were felicitated.

The Summit saw the participation retail leaders, as well as top names in the retail service provider space. Retail stalwarts speaking at the summit included Hari Menon, CEO & Co-Founder, bigbasket, Lalit Agarwal – V-Mart Retail; Sagar Daryani, Co-Founder & CEO, Wow! Momo Foods, Avnish Anand – CaratLane; Avnish Kumar, Director, Neeru’s; Sanjay Vakharia, CEO, Spykar; P Jayakumar – Apollo Pharmacy; Rajiv Nair – Kaya Ltd; Samir Srivastav- Looks Salon; Satyen Momaya, CEO, Celio Future Fashion; Gautam Saraogi, CEO, Go Fashion (India) Ltd (Go Colors); among many others.

Speaking during the panel discussion on RLS 2024, Lalit Agarwal, Founder & MD, V-Mart Retail, discussed creating experiences in retail that resonate deeply with customers, especially budget-conscious customers, to make them feel smart and stylish within their means. He emphasised on emotional connection through personalised service and storytelling, making customers feel valued and understood. Lalit Agarwal advocates for building strong brand connections that extend beyond the store, through all interactions, including advertisements. This approach aims to turn customers into authentic influencers, leveraging word-of-mouth for brand promotion. The key is continuous engagement and storytelling, which ensures customer loyalty and organic growth.

Noting the importance of strategy differences across retail categories, Rajesh Jain, MD & CEO, Sports & Leisure Apparel (Lacoste India), highlighted the approach in the premium fashion segment, emphasising a uniform customer experience across online and offline channels without price differentiation except during season-end sales. He said that this strategy aims to cultivate customer habits and preferences for purchasing channels, whether for convenience online or the experience in-store. By maintaining consistent pricing and service, customers understand the brand’s value proposition, reducing their expectation for discounts and fostering brand loyalty.

Furthermore, Darpan Mehta, Director Tax, APAC International Stores, Amazon (US and India) and Vivek Somareddy, VP, Emerging Markets, Seller Experience and Global Trade, Amazon (US and India) made a presentation on “Unlocking Mechanisms and Working Capital for Business Expansion”.

Additionally, the second day of RLS 2024 featured a keynote speech by David Macadam, CEO of the Middle East Council of Shopping Centres (MECSC) and the International Council of Shopping Centres (ICSC). This was succeeded by a dynamic panel discussion titled ‘Mahasangram: Retail and Retail Real Estate,’ bringing together prominent figures from both retail real estate and retail industries for an engaging exchange of ideas.

Mall Developers participating in the discussion were Abhishek Bansal, Executive Director, Pacific Group; Dalip Sehgal, CEO, Nexus Malls; Muhammed Ali, CEO, Forum Malls; Rajneesh Mahajan, CEO, Inorbit Malls and Shibu Phillips, Director, Shopping Malls, Lulu group. While on the brands side were Manish Kapoor, MD & CEO, Pepe Jeans; Rajesh Jain, MD & CEO, Sports & Leisure Apparel Ltd; Sanjeev Rao, CEO, Being Human Clothing; Sanjay Vakharia, CEO, Spykar Lifestyles; and Tushar Dhingra, Co-founder & CEO, Dhishoom Cinemas.

In his keynote address at the summit before the Mahasangram Session, David Macadam, CEO, Middle East Council of Shopping Centres (MECSC), International Council of Shopping Centres (ICSC), shared insights on the evolution of experiential retail and e-commerce. He discussed the challenges and opportunities within the retail industry, emphasizing the importance of adapting to consumer demands for experiential and sustainable shopping experiences. Macadam highlighted the significant role of AI and technology in retail, the impact of mixed-use developments, and strategies for business development. He advocated for embracing change, prioritizing customer experience, and leveraging strategic partnerships to navigate the retail landscape successfully.

Day 2 of RLS 2024 also had a dedicated D2C segment that saw participation of leaders of top D2C brands namely, Dhiraj Agarwal, Founder, Campus Sutra; Sneh Jain, Managing Director, The Baker’s Dozen; Harsh Lal, Co-Founder, The Souled Store. A scintillating Fireside chat with Parul Gulati, Actor & Founder of Nish Hair (featured on Shark Tank India). This segment explored the unconventional strategies that has enable these brands to achieve immense success in a short frame of time.

Parallelly to RLS 2024 was an extensive session of ‘Retail Store Design’ that saw participation of top retailers and brands deliberating on topics such as ‘Future of Retail Design: Exploring Emerging Trends and Technologies’, ‘Balancing Design and Functionality in Retail Spaces’, a captivating Fireside Chat and  a Masterclass on ‘The art of curating memorable and meaning customer journey’.

The advisory board of RLS 2024 includes Anujj Puri, ANAROCK, Ashwin Khasgiwala, Reliance Retail Limited; Avjit Mitra, Croma, Infiniti Retail; Hari Menon, bigbasket; Johnson Verghese, Fossil India; Nissan Joseph, Metro Brands; Rajneesh Mahajan, Inorbit Mall; Sagar Daryani, Wow! Momo Foods; Venkatesalu P, Trent.

The first day of RLS 2024 came to a close with the grand felicitation of the crème de la crème of the retail industry with India’s Retail Champions Award 2024 and the Retail Start-up Awards 2024, both evaluated by eminent personalities from the industry as the Jury.

Winners of India’s Retail Champions Awards 2024 were:

Third March: Redefining Sophisticated Workwear for Women

Mumbai, February:  Third March, a distinguished name in the realm of fashion, is on a mission to empower and celebrate the modern woman through its exclusive focus on sophisticated workwear. Founded with a commitment to redefine work attire, Third March envisions infusing sophistication, confidence, and timeless style into every piece, recognizing clothing as a reflection of inner strength and aspirations.

Empowering the Modern Woman

Third March is dedicated to providing women with a wardrobe that complements their professional journey while symbolising unique elegance and resilience. Our designs are crafted to empower women, offering a collection that transcends trends and celebrates individuality. From clean lines to tailored silhouettes, each piece embodies sophistication and confidence, empowering women to exude grace in every professional setting.

A Creative Journey of Excellence

The journey to becoming a fashion designer for Third March started with a passion for the transformative power of clothing. Our commitment to excellence, attention to detail, and belief in fashion’s ability to inspire confidence have shaped our vision. From formal education to hands-on experience, our creative journey is marked by relentless pursuit and evolution, culminating in a brand that empowers women through refined workwear.

Sophistication Redefined

The unique style and aesthetic of Third March can be defined as a harmonious blend of sophistication, timeless elegance, and modern confidence. Our designs showcase clean lines, tailored silhouettes, and thoughtful details, creating a collection of workwear that transcends trends. The brand’s commitment to refined simplicity empowers women to exude confidence and grace in every professional setting.

Setting Ourselves Apart

What sets Third March apart in the fashion industry is our exclusive focus on crafting sophisticated workwear for women. In an era where such specialised attention to women’s work attire is limited, we stand out by offering a curated collection that seamlessly blends elegance, professionalism, and timeless style. Our commitment to filling this gap in the market ensures that every piece is meticulously designed to empower women in their professional journey.

A Commitment to Sustainability and Ethical Practices

Third March prioritises sustainability by selecting eco-friendly materials, ensuring supply chain transparency, and embracing a “slow fashion” philosophy. Our commitment to ethical practices extends to supporting local production, minimising waste, and educating consumers about the benefits of sustainable fashion.

Honouring Excellence and Empowerment

While Third March hasn’t received any awards for our designs, we’ve gained recognition and appreciation from our community for our commitment to revolutionising women’s workwear. Our designs have been celebrated for their elegance, sophistication, and empowering ethos, resonating with women who prioritise both style and professionalism in their daily lives.

Join the Third March Movement

We invite women to join the Third March movement and experience the transformative power of sophisticated workwear. With a commitment to excellence, empowerment, and timeless elegance, Third March is more than a fashion brand—it’s a celebration of the modern woman.

Polish Businesses Explore Collaborations in Gurugram

Gurugram, March 2nd: A recent event, organized in collaboration with PHD Chambers of Commerce, aimed to foster connections between Polish and Gurugram businesses. This initiative included the participation of Mr. Tomasz Szypula, Chairman of PTAK WARSAW Expo (Poland), and Mr. Kazimierz Cwikla, Vice President (Head of Development and Expansion).

During the gathering, Gurugram and Polish entrepreneurs engaged in a productive discussion focused on advancing and developing their respective industries. Notably, at the request of Mr. Gunjan Mehta, Chairman of the National Human Welfare Council and founder of the Gurugram Industrial Expo, Polish businesses agreed to sign a Memorandum of Understanding (MoU) with Gurugram’s industrial organizations. Additionally, a delegation of Gurugram businessmen was invited to visit Poland.

Gurugram: A Hub for Industry

Mr. Gunjan Mehta emphasized Gurugram’s position as a prominent center for the automotive, IT, and apparel industries. He highlighted that Poland hosts approximately 75 international fairs showcasing these very products annually. Recognizing the potential for collaboration, Mr. Mehta, who actively engages with businesses in India and abroad, facilitated this meeting to connect Indian exporters and manufacturers with Polish counterparts seeking raw materials for their garment industry.

Meeting Attendees and Significance of the MoU

The gathering featured representatives from various sectors, including entrepreneurs associated with the Udyog Vihar garment sector, Chief Pattern Colonel Raj Singhla, PHDCCI Deputy Secretary General Naveen Seth, Shri Rajneesh, President of the Chambers of Commerce Udyog Vihar Association, Shri AK Kohli, and Col. Raj Singhla.

Commenting on the signed MoU, Mr. Gunjan Mehta declared, “This agreement will act as a catalyst for industrial growth in both countries, propelling their economies towards sustained progress.” Furthermore, he extended an invitation to Gurugram industry leaders to visit Poland as a delegation to gain insights into both nations’ businesses, demand trends, and product and service quality. This initiative, readily accepted by the Polish Chairman of PTAK WARSAW EXPO, underscores the commitment to fostering meaningful collaboration between these two regions.