The second Economic Times Retail Awards,celebrating the best of global retail,were held last week in Mumbai in partnership with the Retailers Association of India (RAI) that brought together over 100 leaders from the retail industry to recognise the best and the most innovative. Bhaskar Bhat of Titan Industries won the Retail Personality of the Year award and Shoppers Stops vice-chairman BS Nagesh was awarded retails Hall of Fame award. Almost four years after the global consumer slowdown, the shadow of another crisis looms in parts of Europe and other developed markets.

Fittingly, therefore, the winners of ET Retail Awards were those whose pragmatism and confidence serve as examples for others in the consumer service industry. n the emerging retailer category, the award was given to Metro Shoes for aggressively building a pan-India operations profitably when most others are struggling to break-even. Yum! Restaurants India was feted for its success as a Responsible Retailer while Big Bazaar won the Fedex Most Trusted Retailer of the year award.

The awards ceremony also had a discussion on Sustainable growth of Modern Retail in Emerging Markets, moderated by BS Nagesh,who has recently founded TRRAIN,a non-profit retail training initiative. The discussion featured industry experts such as Dr Gordon Campbell, managing director of Spar International, Ivan Levy, chief executive officer, The Body Shop Switzerland and Bijou Kurien, president, Reliance Retail. The awards were also given on how well the retailers have embedded innovation into their business practices in terms of the innovation, its impact thereof and sustainability of the innovation.The award for Innovative operating idea of the year went to Tanishq and Innovative Store Design of the year was given to Raymond.TI Cycles of India was honoured with Excellence in Rural Retailing for reaching out to the countrys hinterland while the Retail Franchiser of the year award was presented to Cartridge World. The ET Retail Awards was presented in partnership with Martjack, Fedex, Image Consulting Business Institute,KSL and Jawed Habib while Ernst and Young was the process advisor and validator for the awards.