ODEL conferred IGDS membership
ODEL has been conferred membership of the Intercontinental Group of
Department Stores (IGDS), the largest association of department stores
in the world.
This membership puts ODEL, the only IGDS member from Sri Lanka, in
the company of some of the leading and most prominent department stores
in the world including Selfridges, Saks 5th Avenue, Printemps, Parkson,
Beco, FEDS, Shopper's Stop, M&S and Woolworths.
By obtaining IGDS membership ODEL has the potential to further
enhance its operations, by utilising the services provided by the
organisation to its members, the company said. IGDS acts as a platform
for interaction between CEOs, senior managers and specialists of member
organisations, organises conferences and seminars on pressing issues;
explores and supports synergies between members and collects and
disseminates information on the latest industry practices.
"We are pleased with this membership as the screening process is
stringent and members are handpicked due to the strict requirements that
have to be met," ODEL founder and CEO Otara Gunewardene said.
"The IGDS membership positions ODEL as a leading department store
with a strong brand and retail presence in the region, and puts Sri
Lanka on the global shopping map." IGDS President and Shopwise and
Rustan, CEO Philippines Bienvenido Tantoco and IGDS Executive Director
Werner Studer in a joint statement said: "The Board is very proud to
welcome Odel in our group and we are convinced that the membership will
be of mutual benefit and prosperity in the years to come."
"Odel has convinced the IGDS Executive Board who is approving
membership by its clear business plan, unique positioning and solid
execution and implementation. IGDS is proud to accompany Odel on its
future growth path. In return, IGDS members are going to benefit from
the country specific know-how and information provided by Odel Limited
in particular when it comes to sourcing from Sri Lanka or exchanging
private label programs."