Make way for the new king of retail

With a ₹38,000 crore market cap, the Radhakishan Damani-owned D-Mart is now India’s most valued retailer

Soumik Kar

Avenue Supermarts is not yet in the league of Wal-Mart. But Radhakishan Damani, the astute stock market investor who owns it, was deeply inspired by Sam Walton, the legendary founder of America’s biggest retail chain, when he entered the retail business in 1999. It all began in 1999 when Damani decided to test the waters by taking up a 5,000 sq ft Apna Bazar franchisee in Nerul. After gaining hands-on experience of how the retail trade worked, Damani took the plunge by setting up D-Mart in 2002.