The Hindu Business Line : Lifestyle is Retailer of the Year; B.S. Nagesh Retail Professional

MR B.S.NAGESH of Shoppers' Stop has been chosen as the `Retail Professional of the Year' and Lifestyle as the `Retailer of the Year' during the first ICICI Bank Retail Excellence Awards 2005.

The awards have been instituted by ICICI Bank with retail consultancy KSA Technopak as the knowledge partner.

Among the other awardees are InOrbit as Mall of the Year, and Reliance Webworld as both the Fastest Growing Retailer of the Year and the Launch of the Year. While Trinethra was chosen as the Food & Grocery Retailer of the Year, slimming chain VLCC was christened Health & Beauty Retailer of the Year.

"Retailing in India has seen a paradigm shift with a focus on providing better, efficient, faster and economical service to customers. 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," the Senior General Manager and Head of Retail Business for ICICI Bank, Mr V. Vaidyanathan, said in a release.

KSA Technopak Chairman, Mr Arvind Singhal, said, "Although organised retail is expanding rapidly across India, it needs to factor in the changing dynamics of consumer buying behaviour very sensitively at every stage. Our evaluation of the awards has focused on consumer satisfaction and retention."

The awards were given away in a ceremony held to coincide with the ongoing seventh KSA Retail Summit 2005.

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