Mumbai, Pantaloon Retail (India) Limited, a Future Group venture, was named the ‘Emerging Market Retailer of the Year 2007’, at the inaugural World Retail Congress held at the Palau Nacional, Barcelona, Spain. Held between March 28-30, the World Retail Congress attracted more than 1,000 leading retail figures from over 60 nations.
Among the finalists for the award were B&Q Asia (Hong Kong), Edgars Consolidated Stores (South Africa), Matahari (Indonesia) and Shufersal (Israel).The award, sponsored by SAS, was voted for by a Grand Jury that included many of the world's top retailers and senior industry experts.
Receiving the award, Pantaloon Retail (India) Ltd managing director Kishore Biyani said, "This award is a reflection of the huge potential that the Indian consumption market offers. It is a moment of pride not just for Pantaloon Retail, but for India. It would have been more appropriate if we had got the award after global retailers made their foray into India. We are in a no-competition scenario currently but we excel in what we do to delight our Indian consumers."
The World Retail Awards, in association with KSA, marks the first time the industry has come together to recognize excellence across formats, sectors and borders. Other awards included Retailer of the Year to Inditex, the owners of the Zara brand; Retail Destination of the Year to Mall of the Emirates, Dubai; Multi Market Retailer of the Year to IKEA; and Responsible Retailer of the Year to Marks & Spencer.
This award is yet another international recognition Pantaloon Retail has received in the past twelve months. Earlier this year, Pantaloon Retail was awarded International Retailer of the Year 2007 by the US-based National Retail Federation.
Pantaloon Retail has also received the Best of the Best Retailer at the Retail Asia Pacific Top 500 Awards held in Singapore in October, 2006. Asiamoney recognised Pantaloon Retail as the Best Managed Mid-Cap Company in India 2006.