RK Damani, the founder of D-Mart, is considered to be the king of the retail business. Radhakishan Damani made his debut in the stock market in the 1980s. According to Forbes, Damani’s Real Time Net worth was about $ 1000 million on October 4, 2018. According to Forbes Gist, Damani is the 12th richest person in India.
Damani always tries to stay away from headlines. He always wears white clothes and is famous among the stock market’s legendary investors, ‘Mr. Wight and White’. He started a retail business in 1999, this was the time when Ambani, Kumar Mangalam Birla and Kishore Biyani’s move to the Future Group were not even in the sector.
Damani knows very well what he and his retail firm is doing. They offer daily consumption product to the consumer on heavy discounts. One of his methods of working is that he tries to pay the suppliers and sellers within one day, while according to the industry’s norms, this period is almost a week. Damani knows very well that the purpose behind his enterprise is to supply consumer goods at low prices and they do so without wasting their time in the business. The limited-range products are neatly decorated in D-mart stores.
Damani’s Wealth has become more than Anil Agarwal, Anil Ambani, Godrej family, and Rahul Bajaj. Seeing the performance of the first day of Avenue, he became the 12th richest businessman of the country. Significantly, the Avenue is owned by the Avenue on the country’s most profitable retail chain, D-mart.
Damani made a small start and did not show any hesitation for the expansion. Due to the small scale, they have been able to control the supply chain and they are able to concentrate on profits from the beginning. In 15 years of its existence, D-Mart has made a profit each year. Damani has learned this very well and tested that never as an investor should follow the flock. He has this view as an entrepreneur too.