Chris Igwe Founder & President Chris Igwe International, Paris, France
Chris Igwe is one of the world’s leading authorities on global retail, highly sought after for his passionate views, deep knowledge, and great insights. His leadership and global network inspires.
Based in Paris, he is special advisor on strategic matters to global brands, owners, and investors. He runs his own retail consultancy, Chris Igwe International. He is also Managing Partner, More Or Less, exclusively representing brands, Managing Director, Karine Augis, a French luxury leather handbag brand, Chairman, The ForeverGreen Group, SVP, REIT Innovations, and Co-Founder, Squarefeet, an innovative revolutionary leasing software.
Chris is past Co-Chair of leading global trade association, ULI (Urban Land Institute) Europe Retail and Entertainment Council and member of ULI’s European leadership, and a former Global Governing Trustee, but still in a Trustee with a leadership role.
You are one of the world’s leading authorities on global retail. Tell us about what 2024 looked like for you.
For me, every year is an exciting one. Even during the pandemic, as challenging as it was for a boutique firm like ours, we continued to service our clients as best we could. Specifically, 2024 was even more interesting as we secured an advisory role for the creation of a premium shopping destination in India. I have never worked in India, but the fundamentals of retail and shopping malls are the same the world over. I have been able to share with my client my huge experience in the industry to respond to the requirements of this incredible project.
At the other end of the spectrum, I have been able to continue to advise brands on their current problems of having an excess number of stores, repositioning of the brand, and renegotiating terms and conditions for retail clients.
Beyond this, I have been involved in having C-Suite roles in different businesses, from immersive entertainment with an American start-up, to a French emerging luxury handbag brand, to acquiring businesses with a UK company focused on building women’s health and wellness, hair and lifestyle businesses, as well as a French start-up that has developed a remarkable software that will revolutionize the leasing, specialty leasing and retail media process for landlords.
However, the highlight is being named as a Retail Voice by the leading global trade show organization in the US, the National Retail Federation (NRF) in partnership with RETHINK Retail. I was selected as one of only 50 ambassadors and influencers worldwide who are seen as global leaders. In conjunction with this recognition, I was recognized for the third consecutive year as a Top Retail Expert by RETHINK Retail. I am very proud and honoured.
What trends are seeing in global retail markets?
There are so many. One that has been going on for many years is the optimization by many retailers and brands of their store portfolio. In other words, less is more, by reducing the number of stores, but, where necessary, opening stores that represent the complete range of the brand, with exceptional customer service and remarkable store design. However, the main theme is how to engage the customer with the brand and respond to her needs. This requires a closer awareness to detail of how the brand connects with its customers.
Meanwhile, the physical retail spaces have evolved. With the exception of certain parts of the world, there are few or no new shopping malls being developed and built, as a result of the point above regarding tenant’s appetite for new space.
Online shopping is no longer seen as an alternative to physical stores, but a complementary form of shopping, allowing brands the opportunity to offer a seamless process to engage with the brand.
Entertainment, leisure, food and beverage continue to be the essential mix of shopping destinations, with consumers needing to get out and have experiences of different types, but not necessarily making any purchases.
Technology as a tool to service the customer is a big focus, from inventory management to easy payment methods. The customer must be offered the most seamless and efficient experience.
As a special advisor on strategic matters to global brands, owners, and investors, how is AI changing the landscape?
Inevitably the focus on AI is coming predominantly from the retailers and brands, rather than from the owners and investors.
The former group are using it to assess anything from inventory management, supply chain management, product sourcing, optimization of supply chains, sales forecasting, etc., but the main focus is to use AI to understand their consumers to be able to offer personalization for that consumer. They are using generative AI to offer targeted advertising directly online or through loyalty programmes. The objective is to increase sales and minimize costs, by offering a more fluid experience at all stages of the purchasing process.
Having said all that, not every retailer has the same issues or focus. Each has to determine what is important for them and focus on that, without trying to solve all the problems simultaneously using AI, which is a costly exercise.
Can you share a few client success stories?
One of the wonderful aspects of running one’s business is being able to treat each client individually. I have had so many amazing clients, it is hard to select the ones which have been the biggest success.
One great client, Build-A-Bear Workshop who I helped to secure their first three locations in Paris in record time, working closely with the Founder and CEO, Maxine Clark. Despite the challenges, this was such an enriching experience for both of us, showing the power of collaborative working and listening to each other.
Assisting Esprit over a five year period working as exclusive advisor in growing their portfolio in their two toughest markets, France and United Kingdom, and securing some of the most highly desired deals, including a flagship on the Champs Elysées in Paris.
When I was hired to assist TUMI in their pan European expansion, locations were secured in France, Italy, Spain and The Netherlands. Working closely with the global CEO and European Managing Director, enabled me to provide them with a detailed understanding of the European retail market.
After several years of advisory services leading up to securing their first deals in France, both Costco and Michael Kors were special moments given the complexity of each deal, and meeting the demands of the CEOs.
There is always the less glamorous, but equally important work assisting clients in their most difficult projects, such as supporting brands in renegotiating their terms and conditions to get financial improvements. Such clients included global brands Disney, Fossil, Gap, PAUL and TESCO.
Tell us about your book, Breaking Down Barriers.
The subtitle of the book is “My journey from a small African village to the world stage.” The intention was to create in the reader’s mind, the awareness that we can start from nowhere and arrive somewhere. I am the living proof that starting out from a small, unknown village in Eastern Nigeria, I have studied extensively, worked hard, and made sacrifices to achieve the success I enjoy today. The reader does not need to have ambitions to be on stages like me, but more to get to the highest levels possible that they set their eyes on.
Through the fifty chapters and their focused questions, offering a unique style to the book, I wanted to have a workbook through which I could express my philosophies and ideas that the reader, whether young or old, can find ideas for themselves to include and wrestle with in their own personal life to achieve happiness and success.
I often say that the book took me thirty-five years to create, and eighteen months to write and publish. It is a personal development book written in an easy style for all readers starting from a young age. My key objective is to get people to think about how they want to live their own life. I want everyone to see that through my path there are endless possibilities, but we need to work on ourselves, and do so on a regular basis.
I have had some phenomenal feedback and testimonials, including professionals who have been inspired to make changes in their own careers and leave current jobs, chasing their dream, both personal and professional.
You are a renowned keynote speaker. Please share your topics and upcoming engagements.
This year my main focus is on creating and organizing the tenth and final edition of a pan European Outlet conference called MAGDUS, with my business partner, Caroline Lamy. This will be held in Paris in April, where we want to give this part of the retail industry a farewell through the conference. I will be speaking and moderating sessions.
In November I will be conference MC for about the fifteenth consecutive year at the internationally acclaimed annual conference in Cannes, MAPIC.
Otherwise I am presently in discussions for keynote speeches this year in Istanbul, Delhi, and Paris.
The topics I cover are Global Retail, Working Successfully Across Borders, Successfully Leading Global Teams, Entrepreneurial Mindset in a complex world.
Reflecting on your career, what has been your proudest moment?
There are two proud moments.
The first is having a strong family bond with my wife, four children and two grandchildren. Given the fact that I have travelled three or four times a week, every week, commitment to family was, and still is, non-negotiable.
The second and most challenging was working on what became known as the MI6 Building in London, featured in James Bond movies.
In Switzerland, when working as a Civil Engineer, my previous career before moving into Retail, my team designed and installed the external structure of that building, which had huge technical design constraints, and which the company had never done before. It was cutting edge technology. The project required huge physical, mental and emotional stamina to achieve the outcome desired, without endangering the financial position of the company. Leading this international team was by far the biggest challenge in my career, and which taught me so much, along with so many of the skills I have used throughout my career.
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Website: www.igweinternational.com
