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D-Mart Winning Strategy
Damani has over 25 years of experience in the securities market . He began his career in the ball bearing business . Thereafter, he began his business in stock trading and he was granted registration as a stock broker by SEBI in the year 1992. Subsequently,in the year 1997, his membership was converted into corporate membership in the name of Damani Shares and Stock Brokers Private Limited.
After raking in the moolah in the stock market during the ’80s and ’90s, Radhakishan Damani suddenly quit after the crash of 2001. Over the next few years he focused on his other passion: retail. He slowly built DMart into a chain, and it has around 70 stores across Gujarat, Maharashtra, Karnataka, and Andhra Pradesh. At a time when the Birlas, Mukesh Ambani and Kishore Biyani are struggling to get the retail recipe right, Radhakishan Damani seems to have perfected it. His model is simple and differs from that of others.
1. Damani doesn’t go to upmarket malls to set up outlets; dense residential complexes is where D-Mart prefers to plant its flag.
2. He buys his own real estate rather than leaving the business to the whims of owners who can hike rents at will.
3. D-Mart keeps the store size small, stocking only fast selling products. This reduces write offs on clogged inventory.
4. D-Mart pays its vendors within two days unlike other retailers, who pay after 1530 days. So vendors give discounts to D-Mart for prompt payment and these discounts are passed on to buyers, improving footfalls and customer loyalty.
Radhakishan Damani now wants to take DMart pan India, but at his own pace. For him, profitability comes before scalability. That approach has made D-Mart the brightest star on the retail horizon in India.
Radhakishan Damani | Latest News on Radhakishan Damani
Mar 2017: D-Mart shares surge 115% to Rs640.75 on listing day
Feb 2017: D Mart IPO coming soon
Jun-2016: RK Damani gets into Man Infracon
Jun-2015: RK Damani gets into India Cements
Last updated on March 2019