Retail Parley

Sri Lankan President Maithripala Sirisena (L) and Sri Lankan Prime Minister Ranil Wickremasinghe gesture as Sri Lankan Finance Minister Ravi Karunanayake (unseen) presents a supplementary budget to parliament, marking the first economic policy statement of the new government which came to power earlier in the month in Colombo on January 29, 2015. Sri Lanka's new government announced hefty taxes on top companies in a bid to raise revenue, accusing the previous regime of fudging the figures and leaving the economy in a "sad state". AFP PHOTO / Ishara S. KODIKARA (Photo credit should read Ishara S.KODIKARA/AFP/Getty Images)

Feb 17, 2012 (LBO) – Retail professionals from some of the world™s top department stores are due in Sri Lanka this month for a three-day conference that is expected to generate valuable exposure for the island’s retail sector. Among the association™s members are some of the top department stores in the world including Selfridges, Saks 5th Avenue, Printemps, Parkson, Beco, FEDS, Shopper™s Stop, M&S, Woolworths, Central, Lotte, Matahari, Ruston, and Tangs.

Last year™s IGDS Commercial Director Conference Asia was hosted by Central Retail Corporation in Bangkok, Thailand.

The organisation has 33 members from 31 countries, with total sales of over 60 billion US dollars.

Membership is reserved to leading department stores worldwide and limited, normally, to one member per country or region, the statement said.

“The admission of a new member is subject to the acceptance of a majority of existing members.” The meeting of the Intercontinental Group of Department Stores (IGDS) presents a big opportunity for innovative home grown brands, said Otara Gunewardene, chief executive of retail chain ODEL, which is hosting the event.

It will facilitate the establishment of business links that could help th