Radhakrishna Damani Successful journey from Dalal Street to D-Mart

RK Damani Founder of D-Mart An inspiring Story from Dalal Street to Successful businessman.

RK Damani is also known as Mr. White & White. He is an investor, the founder of D-Mart, and will be the seventh-richest person in India by 2021.

However, his journey to a successful person is not easier but he Faced lots of struggles and hard work. So, let’s begin the inspiring story about a successful businessman.

Who is Radhakrishan Damani?

Radhakrishan Damani was born on 16 August 1954 in a small Marwari family in Bikaner, Rajasthan. His father was a stockbroker. He dropout his B.com degree from the University of Mumbai and started a ‘Ball- bearing’ Business.

However, after the death of his father RK Damani joined with his brother on his family business and started working as a stockbroker.

Soon after he entered the stock market, he understood that if he wanted to make money from the stock market, he have to trade with his own money rather than be a broker. And soon he decided to start trading in the Indian stock market.

Radhakrishan Damani Stock market Journey

RK Damani made a lot of profit in his trading career in the stock market.

He is very knowledgeable and knows how to take swing trades in different market situations. For example, during Harshad Mehta Scam he did “short sell” many stocks and made a good profit.

Mr. RK Damani made a lot of money from Harshad Mehta Scam and then start investing in different shares. For instance, in 1995, he made the largest investment in HDFC bank, VST Industries Limited, India Cement.

Career Changing point after D-Mart Store Opening

After a successful trading career, Radhakrishan Damani wanted to start his own business. So, in 1999, he opened a franchise of BIG BAZAR, but he ended the business because he didn't like the idea.

In 2002, he opened his own business D-Mart in Powai, Mumbai, and from there he began his successful business career.

As of March 2017, D-Mart went to IPO under the name of its parent company Avenue Supermarts. The IPO was a success. Avenue Supermart offers its IPO to the public at RS299 and gets listed at RS 604 after over-subscription.

Currently, the share of Avenue Supermart is Rs 4150 as per 22 February 2022.

Further, D-Mart will have more than 263 stores by 2022 across Maharashtra, Andhra Pradesh, Telangana, Gujarat, Madhya Pradesh, Chhattisgarh, Rajasthan, National Capital Region, Tamil Nadu, Karnataka, Daman and Diu, and Punjab. D-Mart stores generate total revenue of RS 23,787 Crores in the year ending March 2021.

SUCCESS STORY OF D-MART AND STRATEGIES & PLANNING OF RK DAMANI.

His initial focus has been on profit-making rather than expanding the business. At first, he focused on those franchises, so that he could control the supply chain of D-Mart. He is familiar with import & export prices and takes care of suppliers and vendors. Where other traders were holding payment for 2 to 3 Weeks, RK Damani has paid in 2 to 3 days to suppliers Also due to fast payments to suppliers he gets a special discount from suppliers and that discount he put to in Stores to their customers.

His second approach is long-term thinking whenever he selected any location for opening D-Mart stores he is not taking land as a lease, but he purchased the land because for long term he should not pay more rent for the same land and money which he had saved from buying the land he gives a discount to the customer so that he can capture more customers.

Last but not least, one of his strategies is simplicity. He knows that his customers come to the store for discounted products, not for shopping experiences. That's why Mr. RK Damani didn't trumpet D-Mart stores, but he put simple & easy limited good products.

With all these strategies and different analyses, only D-Mart has a total of 263 stores in India. In 2020 RK Damani has the 2^nd richest person in India.

FACTS ABOUT RK Damani (Founder Of D-Mart)

RK Damani considers himself both a trader and an investor, trading in market swings and investing when he sees long-term value.

Mr. RK Damani lives a simple life. He is also known as "Mr. White & White" because most of the time he wears a white shirt & white pants. Besides, he avoids media and public gatherings.

Thanks, you very much for reading my article till here I hope you had learned something from my article, and it motivate you for your successful journey.