Singapore Management University (SMU) officially launched the Retail Centre of Excellence (RCoE) yesterday.
A joint initiative between SMU, SPRING Singapore and the Singapore Economic Development Board (EDB), it is the first and only retail insight-sharing hub in Singapore focusing on generating and disseminating actionable knowledge for retailers in Singapore, Asia and beyond.
The RCoE aims to empower retailers with the know-how through research and insights and build an ecosystem (comprising retailers, retail experts, knowledge partners, SMU faculty and student talent) to tackle key industry challenges and help retailers raise their productivity and innovation levels.
The centre, helmed by SMU Professor of Marketing, Kapil R. Tuli, is joined by a group of founding members – the first being DFS Venture. The other founding members collaborating with RCoE are Microsoft, Harvey Norman, IKEA, Popular Holdings, Decathlon and Tiffany and Co.
The centre also seeks to attract and develop a talent pipeline through academic curriculum. These include leadership training and internships for SMU undergraduate and postgraduate students, and masterclasses for industry stakeholders, managers and C-suite executives. Research by SMU faculty experts will be also shared with retailers to enhance industry knowhow, enabling them to grow their retail businesses locally and abroad.
Professor Lily Kong, SMU Provost, said: “Through the work of the new Retail Centre of Excellence, 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.”