Title:$6M gift from NRF Foundation establishes the NRF Business of Retail Initiative at McDonough School of Business

Thanks to a $6 million gift from the National Retail Federation and the NRF Foundation, Georgetown University’s McDonough School of Business has combined academic excellence with industry expertise by launching the NRF Business of Retail Initiative.

“We were inspired to partner with Georgetown McDonough because of its esteemed reputation among academics, researchers, elected leaders, and policymakers in Washington, DC, and around the world,” says Matthew Shay (EMBA’11), NRF president and chief executive officer. “Together, we believe we can deliver long-lasting research and results, elevate the significance of retail studies, and foster future generations of business leaders.”

The initiative endows the National Retail Federation Chair in Retail Studies, the National Retail Federation Summit, two National Retail Federation MBA Fellows, and research grants all under the umbrella of the NRF Business of Retail Initiative at Georgetown McDonough.

“We are pleased that the National Retail Federation has found a home in the McDonough School of Business, providing a generous gift to create the NRF Business of Retail Initiative,” says Paul Almeida, dean and William R. Berkley Chair of the McDonough School of Business. “This new initiative will work alongside our existing centers and initiatives to expose our students to new retail concepts in a key sector of the global economy, open doors to new career opportunities, and empower our community through impactful programming to do well and do good—here at Georgetown and beyond.” 

A new faculty-led initiative

The NRF Business of Retail Initiative joins McDonough’s existing faculty-led centers, initiatives, and institutes, which are designated to solve modern issues in emerging industries with forward-thinking solutions discovered through academic programming, co-curricular activities, and research opportunities.

“This partnership will ensure that the world-class business leaders Georgetown is known for educating will gain a clearer and more accurate understanding of the retail industry and a stronger interest in pursuing a career in retail,” says Adam Lukoskie (EMBA’16), the NRF Foundation’s executive director.

“Retail is the nation’s largest private sector employer, supporting 55 million jobs and contributing $5.3 trillion to annual GDP. As the largest retail trade organization representing every retailer and every retail job, we are constantly seeking opportunities to advocate, educate, and communicate about retail’s significant impact on local communities and global economies,” Shay says.

A ‘perfect fit’ for collaboration

Through its research, the NRF Business of Retail Initiative will engage retail industry leaders and create resources to share with NRF’s more than 125 university members and 3,500 high school, community college, and workforce development partners. 

“We have high-caliber faculty at McDonough with deep expertise in retail, a Global Retail Marketing course, and the Georgetown Retail and Luxury Association with active undergraduate and graduate student clubs,” says Rebecca Hamilton, Georgetown McDonough’s Michael G. and Robin Psaros Chair in Business Administration and professor of marketing. “The NRF Business of Retail Initiative will connect us with a wide range of leading experts and practitioners beyond the university, expanding opportunities for collaboration and insight.”

Each year, the faculty program director and faculty research director will determine themes to direct projects and events like the retail summit. The initiative aims to develop the next generation of retail visionaries, creating opportunities for students to engage with leading retailers, gain real-world experience, and contribute to shaping the future of the retail industry.

“We are honored by the trust the National Retail Federation and the NRF Foundation have placed in Georgetown through this gift. Their investment will create new opportunities for students to explore the retail sector, strengthen our capacity to educate principled leaders, and generate knowledge to support this vital industry in our economy,” says Robert M. Groves, interim president at Georgetown.

With NRF’s retail advocacy, events, resources, and expertise, the NRF Business of Retail Initiative will produce cross-disciplinary research and learning addressing the new challenges retail faces with changing artificial intelligence, technology, supply chains, law, and policy.

“At McDonough, I gained exposure to the business side of how companies operated, a first-class education from a world-renowned university, and a degree that had immediate application to my work as well as the lifelong benefit of an active and engaged alumni community,” says Shay. “I wanted to find a partner for NRF and our industry to create a collaboration like this initiative. Unquestionably, NRF—representing the largest private-sector industry employer in the country—is a perfect fit with McDonough’s curriculum.”

“My career at NRF started through connections I made while pursuing my Executive MBA at Georgetown. Now, my team at the NRF Foundation provides access to education and opportunities needed to help people pursue promising careers,” Lukoskie says. “The NRF Business of Retail Initiative is a full-circle moment for me. This partnership will help us work better together in the talent space, connecting employers to job seekers, and the organizations that help prepare them.”