Do you know Radha Kishan Damani? He is the 12th richest person in India. An Indian investor and entrepreneur, best known as the owner of the India retail giant ‘DMart.’ The self-made billionaire is the owner of the country’s third-largest mega-retail stores’ chain.
Also, he is the only Indian business tycoon whose net worth is unaffected as the deadly covid-19 upset markets across the world.
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The net worth of Shri RadhKishan Damani, who owns Avenue supermarkets Ltd., has risen 5% this year to the whopping $10.2 billion.
Damani, who was born and raised in a one-room apartment, Mumbai has seen his net worth bloats when a stocks rout has shred around 32% off the wealth of his billionaire competitors Uday Kotak and Mukesh Ambani on fears that the coronavirus pandemic will upset economic growth.
Radhakrishnan’s supermarket chain, popularly recognized for its prudent cost structure, earned from panic buying of basic household essentials after Nation decided to lock its 1.3 billion population under a 21 days lockdown last month.
This made Damani’s businesses benefited as much under the lockdown circumstances. People have been buying in panic and hoarding during the lockdown that drove the sales, making the company’s share at Peaks!
About His Career And Success:
Radha Kishan Damani started his career as a business trader, but a financial crisis ath his home after his father’s death led him to become a stock-market investor. He began speculating and made his first stock-market investment at the age of 32.
However, Radhakishan soon realized that more speculation would not help him establish himself in this risky business.
He then began learning eays to invest and grow capital. During that phase, he was profoundly influnced by Chandrakant Sampat, a value investor whom he had met in the early 1990s.
From the late 1990s to the early 1990s, a period considred as the dark phase of the Indian stock market, Radha Kishan combated Harshad in the business.
During that time Radhakishan made his most of money by short selling which was not so popular at that time.
After quitting the stock-market business, Radhakishan founded ‘DMart’. zthis placed Radhakishn on the list of the top 20 Indian Billionaires. Following the March 2017 ‘IPO’ listing of ‘DMart’, Radhakishan become India’s retail King.
Secret Of His Success:
- Small is big
- Go local
- No frills
- Buy low, sell cheap
- value your people
- Ignore the herd
- Let your work speak
- Avoid credit
The success of ‘Dmart’ lies on its three pillars: its consumers, its sellers, and its employees.