Retailers come together to launch Retailers Association of India

Company release, September 28, 2004

Mumbai

In a historic development in the annals of Modern Indian Retail, leading retailers of the country today came together to form the Retailers Association of India - (RAI) the first independent body of retailers in India. The RAI will have a three charter aim of Retail Development, Facilitation and Propagation. The founder members of RAI are the people who led the retail revolution in this country - Pantaloon India, Shoppers' Stop, Trent, Globus, Piramyd, RPG Retail, Vivek's and Subhiksha.

The association was launched in the towering presence of leading retailers in the country like B A Kodandarama Setty, B S Nagesh, Kishore Biyani, Krish N Iyer, Noel Tata, Raghu Pillai, R Subramanian and Vinay Nadkarni. All of them along with other leading retailers of the country pledged to make RAI the leading voice of the retailers and a model association which will benefit the society and common man on the whole. RAI will organize activities such as conferences, seminars, training programs, interaction with Governmental and legislative decision makers to achieve the above goals.

The RAI has appointed Gibson G. Vedamani as the first CEO of the association; he has over two decades of rich experience in the Indian retail industry. Gibson has worked in senior positions with the leading retailers and headed the first retail specific management course in the country. Along the way, he has penned his experience in a book for retail which today is 'must read' in all leading business schools as also among retailers. Surely, his all rounded experience will be of immense use in building this association into a powerful and well directed effort.

The retail industry in India today stands at US$200bn and the share of organized retail currently is at 2% and this is expected to grow to 5% in the next 3 years. India is unique in this sector as it has the highest per capita density of retail outlets with 12million retailers.

A revolution in retailing is in the offing with the establishment of various formats by retailers and with many new organizations setting up shop via their own retail route.

Commenting on the above initiative, Mr. Gibson G. Vedamani, CEO said, "Retailers Association of India aims at being the voice of Indian retailers. RAI through its various efforts will aim at uplifting the standards of overall retailing in the country so as to offer the Indian customer a more enriching experience. It will be our endeavour to become a model association where retail companies will be joining hands and building a collective voice."

The RAI has already started getting tremendous support and response from retailers -big & small across the country as also other quarters like the government, bureaucracy, academicians, associations, students and society as a whole and surely hopes to create a movement which will inspire and be a role model for other industries to follow!

For further information please contact:

Integrated Brand-Comm

Biswadeep Gupta / Kanchan Singh

Tel: 022 55020056/57

M: 9820371385 / 31051221

Email: biswadeep@brand-comm.com / kanchan@brand-comm.com