Radhakishan Damani, one of the most astute investors and entrepreneurs, over the years, has surpassed many prominent Indian Billionaires like Ajay Piramal, Rahul Bajaj, and Anil Agarwal in terms of wealth.
Damani is the founder Avenue Supermarts Limited, which runs the DMart hypermarket chain of stores. The businessman reached the pinnacles of success after he launched the IPO of his Supermarket Chain DMart in 2017. The company has grown to more than 300 stores of supermarkets and hypermarkets across the 14 states.
The immense success of the model should be credited to Damani’s pioneering vision and business acumen. His unique, effective, and relentless execution led the company to be the toast of its investors. On the other hand, for the consumers, DMart is known for offering the best discounts and other potential competitors can’t match in terms of cost and value proposition.
So, how does the retail company manage to give such huge discounts throughout the year? Well, the approach is clear. If the rental costs account for around three per cent of total turnover, the benefits will be higher in comparison to those operating at an EBITDA margin of 3 - 4 per cent. EBITDA refers to earnings before interest, taxes, depreciation, and amortisation and indicates the operating profit.
Source: News 18
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I'm always impressed by how Discount Store manages to offer heavy discounts consistently. The discount store concept is a brilliant way to make quality products accessible to a larger audience. It's a brand that understands the importance of providing value to its customers.