The Singapore Management University recently launched a Retail Centre of Excellence (RCoE) to help retailers in the republic raise their productivity and innovation levels.
The RCoE aims to do so by providing actionable knowledge through research by SMU faculty experts and insights from retail experts, knowledge partners and retailers.
The centre will also seek to attract and develop a talent pipeline through leadership training and internships for SMU undergraduate and post-graduate students, and masterclasses for industry stakeholders, managers and C-suite executives.
"Through the work of the new RCoE, we will be able to nurture a pipeline of young talent who will be excited to make retail their career and to contribute fresh ideas and perspectives. Retail organisations will also benefit from research by our faculty experts, offering evidence-based insights of relevance to business and industry," said Professor Lily Kong, SMU Provost.
She added that SMU recently launched a new Retail Services Management Track too. Offered at the Lee Kong Chian School of Business under its Marketing Major, the track is open to students from SMU's business, accountancy, economic, social sciences and information system schools. The first cohort of students from this track is expected to graduate by April 2019.
The RCoE is a joint initiative between SMU, SPRING Singapore and the Singapore Economic Development Board (EDB). It will be headed by Kapil R Tuli, SMU Professor of Marketing. Its founding members include DFS Venture, Microsoft, Harvey Norma, IKEA, Popular Holdings, Decathlon and Tiffany and Co.
Ted Tan, Deputy Chief Executive, SPRING Singapore, said: "The RCoE [is one of the] key partners of the Retail Industry to promote a community of knowledge sharing amongst our SMEs. Through RCoE, retailers will be able to gain deeper insights through retail-centric research which we hope will enable them to pioneer more innovative concepts and solutions. SPRING will continue to work closely with industry partners to drive transformation and support retail businesses in capturing new opportunities."
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