Radhakishan Damani Biography – The name Radhakishan Damani, who is called the king of retail business and the founder of D-Mart, comes on the list of richest people in the country. According to the list released by Forbes India, Radhakishan Damani is the seventh richest man in India and his net worth is $ 14.3 billion. Although very few people would know that Radhakishan Damani, the king of retail business, started his career as an investor in the stock market. But an idea from D-Mart has made him the king of retail business. Due to this idea, Radhakishan Damani became one of the richest people in India overnight. So let’s start the biography of Radhakishan Damani.
The career of Radhakishan Damani
Radhakishan Damani started his career as an investor in the stock market in the year 1980. Based on his hard work and understanding, Radhakishan Damani soon established himself as a big investor in the stock market.
How D-Mart started
Radhakishan Damani was greatly influenced by Walmart, the world’s largest retail company. He also went to America to understand the retail theory of Walmart founder Sam Walton. After thorough research, Radha Krishnan Damani opened the first store of D-Mart, a new chain of his company Avenue Supermart in the year 2002. D-Mart completely changed the career of Radhakishan Damani. At present, the market cap of the company has reached Rs 1.5 lakh crore in the last 18 years. Presently, D-Mart has 196 stores, 36 distribution centers, and 7 packing centers across the country. A total of 9,780 people work in these.
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100% property increased overnight
The IPO of Radhakishan Damani’s company D-Mart was listed on the stock market on March 21, 2017. As soon as the stock market opened in the morning on March 21, the issue price of D-Mart increased from Rs 299 to Rs 604.40. This is a return of 102%, which is a record in itself. Due to this, there was a huge increase in the wealth of Radhakishan Damani.
The secret of D-Mart’s success:-
- Radha Krishnan Damani does not rent a building to open a D-Mart store, but buys it.
- Even if the building is taken on lease, then this period is more than 30 years.
- Apart from this, the average time to liquidate stock in most companies is 70 days, but in D-Mart this time is 30 days.
- Radhakishan Damani opens D-Mart stores in middle-class residential areas.
- Apart from this, he keeps some main brand products apart from his brand at the D-Mart store. This does not confuse customers.
Radhakishan Damani’s family
Radhakishan Damani’s father’s name is Shiv Kishan Damani and he was a stockbroker. Damani came into the stock market broking business only after his father’s death. Radhakishan Damani has three daughters. His elder daughter Madhu is married to Abhay Chandak and his second daughter Manjari is married to Aditya Chandak. The business of D-Mart stores is under the supervision of elder daughter Madhu and second daughter Manjari.
Where does Radhakishan Damani live?
Radhakishan Damani, who hails from Bikaner in Rajasthan, has a personality that speaks less and listens more. He is fond of reading books. He is not fond of appearing in the media. He doesn’t even broadcast himself much. Radha Krishnan believes more in doing Damani’s work.
Radhakishan Damani’s property
In the year 2021, Radhakishan Damani was included in the list of 100 richest people in the world by Bloomberg Billionaires Index. According to the Billionaires Index, Radhakishan Damani’s net worth is $1920 million.
Friends, that’s all in today’s post. Today we know Radhakishan Damani became the king of retail business through D-Mart, know the success story. Friends, if you liked this post, then share it with your friends. See you in the next post.