Store Club

Jan 25, 2011 (LBO) - Sri Lanka's Odel a high end retailer said it had joined a global department store association founded in Switzerland which whose members have combined sales of 60 billion US dollars. Intercontinental Group of Department Stores (IGDS) has 33 members in 31 countries, Selfridges, Saks 5th Avenue, Printemps, Parkson, Beco, FEDS, Shopper™s Stop, M&S and Woolworths, Odel said in a statement.

"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," Odel founder Otara Gunewardene said in a statement.

The firm says the membership has the potential to further enhance its operations, by utilising the services provided by the organisation to its members.

IGDS acts as a platform for interaction between chief executives, senior managers and specialists of member organisations, organises conferences and collects and disseminates the latest industry practices.

Odel quoted IGDS as saying that its executive board has approved the membership based on its business plan, positioning and implementation.