While Lifestyle was adjudged 'Retailer of the Year,' B S Nagesh, CEO of Shoppers' Stop walked away with the 'Retail Professional of the Year' award at the first ICICI Bank Retail Excellence Awards 2005 held in the Capital on Thursday.
Instituted along with the 7th KSA Retail Summit, the ICICI Bank Retail Excellence Awards was divided into 21 categories. It not only honoured top retailers and retail professionals, but also recognised innovations and best-in-class operations in the industry. "Retailing in India has seen a paradigm shift with a focus on providing better, efficient, faster and economical service to customers," said V Vaidyanathan, Senior General Manager & Head of Retail Business, ICICI Bank.
KV Kamath, Managing Director and CEO of ICICI Bank, handed over the 'Retailer of the Year' award to the Lifestyle team. Inorbit bagged the 'Mall of the Year' award, while this year's 'Fashion Retailer of the Year' award went to Madura Garments. Café Coffee Day bagged the 'Exclusive Brand Retailer of the Year' award.
Lifestyle also emerged as the winner of the 'Department Store of the Year'. Air Sahara was recognised for its 'Best Innovation in In-flight Marketing Programme,' while Rediff.com was recognised for its innovations in B2C segment. The portal was declared winner in the 'Best Innovation in B2C website' category. Bombay Dyeing was bestowed with the 'Home and Lifestyle Retailer of the Year' award.
The other categories for the award included Loyalty Programme of the Year, Global Operations of the Year, Fastest Growing Retailer of the Year, Luxury Retailer of the Year, E-Retailer of the Year, Home and Lifestyle Retailer of the Year and Exclusive Brand Retailer of the Year. "These awards provide a platform to recognise retailers who are consistently seeking to innovate to satisfy and retain customers, while increasing profits at the same time," said Vaidyanathan.