In Just 15 Years, D-Mart Owner Overtakes Anil Ambani To Enter Forbes List Of Richest Indians

Remember that classmate who sat in the middle row, did not attract any attention, and somehow suddenly topped your class one fine day. No one expected them to top the class because they never stood out.

Radhakishan Damani, the founder of D-Mart is that classmate. In just over 15 years, R Damani has overtaken billionaire giants like Anil Ambani, Rahul Bajaj, and Ajay Piramal to become one of the richest Indians in the world.

D-Mart
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His net worth is about $5.4 billion or Rs. 35,775 crores. He is among the top 15 richest Indians in the world too. D-Mart is valued at over Rs. 40,000 crores in the market – more than all the other retailers put together. Their first store was opened in Mumbai in 2002.

 

The college dropout ex-stock broker played the strengths and established D-Mart in only suburbs and not in city centers. He also focused on the middle-class as primary target customers.

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This also meant that he was not fighting competition at all. And that helped him secure a very satisfied and niche customer base. D-Mart also concentrated at value-retailing and concentrating in West and South India.

D-Mart has over 118 stores all over India today and is growing at a rate of almost 40% annually.

It competes against Future Group and Reliance and still is the second largest player in the retail business in India today.

There are many lessons in this success story – play your strengths instead of competing outright with the big players, keep your head down and work hard because success is a long-term thing, and never, ever give up.

News Source – Times Of India

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