Chennai, 29th of August, 2024 : The Retailers Association of India (RAI) held a landmark ‘Chennai Retail Summit 2024’ at the renowned ITC Grand Chola in Chennai, drawing together leading decision-makers and industry frontrunners from across the Indian retail sector. This year’s summit, centred on the theme “Changing World of Retail” provided an engaging platform for retail executives and service providers to explore emerging trends, share insights, and refine strategies in an ever-evolving retail landscape.

The summit featured a stellar lineup of speakers, including Chockalingam S, Co-Founder & Director of Opn Advertising Pvt. Ltd.; Balachandar R, Director of Junior Kuppanna; C K Kumaravel, Co-Founder & CMD of Naturals Salon; Saurabh Kumar, CEO – Retail at Kaleesuwari Group; Gautam Saraogi, CEO of Go Fashion (India) Ltd. (Go Colors); and Madhumitha Udaykumar, Co-Founder & COO of The Indus Valley. Each speaker brought a wealth of knowledge and experience, offering valuable insights into the challenges and opportunities faced by the retail industry today.

Speaking about the Chennai Retail Summit, Kumar Rajagopalan – Chief Executive Officer, Retailers Association of India (RAI), said, “Chennai Retail Summit highlights the strength of Chennai as a market that was one of the earliest adopters of the chain store model in India. Retailers from the region —across Tier 1 to Tier 3—have successfully navigated the complexities of modern retail while staying true to their cultural roots. In an industry marked by critical shifts such as time poverty and the growing demand for hyperlocal solutions, the region’s ability to retain tradition while embracing modernisation sets it apart. As consumers increasingly prioritise convenience and personalized experiences, retailers must pivot their strategies to meet these evolving needs. The ability to adapt quickly and innovate in response to these changes is what will define success in this dynamic market.”

Sonali Lalvani, CEO, Toniq Retail Brands, said, “The modern retail environment demands agility and an in-depth understanding of consumer behaviour. As retail shifts from traditional brick-and-mortar to omnichannel experiences, brands that prioritise seamless customer journeys and personalized interactions will thrive in this competitive market.“

Anand Bharadwaj, Co-Founder, Sweet Karam Coffee, said,“In today’s retail landscape, it’s not just about selling a product; it’s about creating a story that resonates with consumers along with the right value-added experiences. As we see a shift toward local and authentic preferences, brands that can harness the power of tradition with a contemporary twist and blend it with modern retail practices will find themselves leading the way.”

C K Kumaravel, Co-Founder & CMD, Naturals Salon, said, “The future of retail lies in the ability to innovate using technology while staying true to your brand’s core values. In the beauty and wellness sector, this means continuously evolving our services to meet the changing needs of our customers while maintaining the essence of what makes us unique. The key is to listen, adapt, and always put the customer first.”

Madhumitha Udaykumar, Co-Founder & COO, The Indus Valley, said, “Indians are more likely to choose a healthy product over an unhealthy one, with an increasing preference for toxin-free and safe options. This shift accompanies a trend toward premiumization. Thankfully, today’s customers are very vocal about their needs. For retailers, this means a significant opportunity to expand their sales pie and increase gross margins by introducing these new-age offerings driven by customer demand.”

The Chennai Retail Summit 2024 once again underscored RAI’s commitment to supporting the growth and advancement of the retail sector, offering a vibrant forum for industry leaders to collaborate, innovate, and drive the future of retail in India.

And the Winners of the India Retail Excellence Awards are: –

Category	Winners
Best Retailer of the Year APPAREL & LIFESTYLE – Ladies Ethnic Wear	Opus Fashion Pvt. Ltd (Maybell)
Best Retailer of the Year APPAREL & LIFESTYLE – Kids Wear	Kings Young
Best Retailer of the Year APPAREL & LIFESTYLE	Lucky Silks Retail Pvt. Ltd.
	Sundari Silks
Best Retailer of the Year BEAUTY & WELLNESS	Page3 Salon Pvt. Ltd.
	Vijaya Optical House
Best Retailer of the Year CONSUMER DURABLES & IT (CDIT)	Innokaiz India Limited
	Priyadarshini Mobiles
Best Retailer of the Year D2C	Sweet Karam Coffee India Pvt. Ltd.
Best Retailer of the Year FOOD & GENERAL RETAIL (Large Format)	Kanchi Super Market
Best Retailer of the Year FOOD & GENERAL RETAIL (Small Format)	Bestmummy Sweet N Cakes
	Browntree Retail Pvt. Ltd
Best Retailer of the Year FOOTWEAR	Koblerr Footwear & Accessories Pvt. Ltd.
Best Retailer of the Year HOME DECOR / HOME IMPROVEMENT	Woodpecker
Best Retailer of the Year JEWELLERY – Gold	Avr Swarnamahal Jewelry Ltd.
Best Retailer of the Year JEWELLERY – Diamond	Wondr Diamond
Best Retailer of the Year RESTAURANT & QSR	Milkyway Ice Cream
	Bon Fresh Foods Pvt. Ltd. (Chai Kings)
Best Retailer of the Year SPECIALITY RETAIL	Zimson Times Pvt. Ltd.
Best Retailer of the Year SPECIALITY RETAIL	Autofocus

About Chennai Retail Summit (CRS):Organised by the Retailers Association of India, the Chennai Retail Summit is considered one of the best platforms in the region for retail leaders and executives to engage in a lucid and focused dialogue about retail trends and issues with their industry friends and service providers in a vibrant environment.

About RAI

Retailers Association of India (RAI) is the unified voice of Indian retailers. RAI works with all stakeholders to create 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 to support employment growth and career opportunities in retail, promote and sustain retail investments in communities from coast to coast, and enhance consumer choice and industry competitiveness.

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