Radhakishan Damani is a prominent businessman and founder of the supermarket chain D Mart. With a net worth of 14 billion dollars, he has established himself as a business leader. But his journey from a dropout to India’s eighth richest man was never a cakewalk. So in this article, we will read the inspiring story of Radha Kishan Damani and learn what traits helped him become a self-made billionaire.
Radha Kishan Damani was born on 15 Mar 1954 in Bikaner in a Maheshwari family. He lived in a one-room flat in Mumbai. He was sent to Mumbai College to study Commerce, but he dropped out in his first year.
Radha Kishan had a natural inclination towards business. After dropping out of college, he started a ball bearing business. But he was not satisfied with it. Therefore, he ventured into stock marketing and created an investment firm named Bright Star in 1989.
After the death of his father, Damani joined his brother in stock marketing broking. This led to the foundation of his stock broking career. Radha Kishan Damani made profits by short selling stocks in 1990. After the Harshad Mehta scam, his income further rose due to these short selling stocks.
He took inspiration from legendary investor Chandrakant Sampat. He had understood that investment is more critical than stock broking to earn money. Therefore he ventured into stock marketing, which proved to be very profitable. He started investing in multi-bagger stocks like Indian Cement, Century textiles, VST Industries, Sundaram Finance, TV today network, Jubilant FoodWorks, 3M India, etc.
Radha Kishan never restricted himself to one business. He started a franchise of a department store named Apnaa Bazaar. This gave him the idea of creating his supermarket chain, Dmart.
He set up a supermarket and hypermarket chain named Dmart in Powai in 2002 after quitting the stock market in 2000. The company expanded rapidly, and today, it has almost 214 stores spread across various Indian cities. Headquartered in Mumbai, D Mart offers multiple personal and home products like stationery, beauty, food, toys, kitchenware, etc. In 2017, the IPO of D Mart was announced, and the company became the 18th most valuable company.
Radha Kishan Damani owns stakes in:
The value of his stocks is approx. 10.20 US billion Dollars, presently.
Challenges are an inseparable part of human life. No matter how successful you become, there will be challenges in your way. Similarly, Radhakishan Damani’s Dmart faces a stiff challenge from Mukesh Ambani’s Reliance retail. As Reliance is set to acquire Future Retail and Big Bazaar, DMart fears a downfall.
In the first quarter of this financial year, Dmart’s parent company Avenue Supermarket recorded a fall in profits. Therefore, Radhakishan Damani has to devise an appropriate strategy to maintain D Mart’s present position.
Radha Kishan Damani’s life from Dalal Street to D-Mart, from a dropout to a billionaire, is an inspiration for everyone. Even after becoming a successful businessman, he never left his simple lifestyle. He successfully broke this notion that degrees are essential for a successful business. To sum up, one should learn from his business skills and understand that ups and downs are natural but how you deal with them determines your fate.
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