Radhakishan Damani represents one of India’s most remarkable rags-to-riches stories, transforming from a small-time stock trader to building India’s largest retail chain DMart. Known for his simple white attire and reclusive nature, Damani’s journey exemplifies strategic business acumen and long-term vision.
Personal Information Tables
Personal Details
Attribute | Details |
---|---|
Full Name | Radhakishan Shivkishan Damani |
Known As | Mr. White and White, Retail King of India |
Date of Birth | March 15, 1954 |
Birthplace | Mumbai, India |
Nationality | Indian |
Education | Dropped out after one year of B.Com (University of Mumbai) |
Net Worth | $23.7 billion (August 2024) |
Occupation | Businessman, Investor, Retailer |
Family Information
Relation | Details |
---|---|
Father | Shivkishan Damani (Stockbroker) |
Spouse | Married |
Children | Three (Manjri, Jyoti, and Madhu) |
Timeline of Major Events
1954: Born in Mumbai
1976: Dropped out of college
1986: Entered stock market at age 32
1992: Made significant profits during Harshad Mehta scam
1995: Became largest individual shareholder in HDFC Bank IPO
1999: Started Apna Bazaar franchise
2002: Opened first DMart store in Powai
2010: Expanded to 25 DMart stores
2017: DMart IPO launch
2024: Owns 366 stores across 12 states
Career Evolution
Stock Market Journey
- Started as a broker after father’s death
- Learned from mentor Chandrakant Sampat
- Made fortune shorting during Harshad Mehta scam
- Known for value investing approach
Retail Empire
- Founded Avenue Supermarts (DMart)
- Focused on ownership model rather than rental
- Implemented low-cost, high-volume strategy
- Achieved 22% market share in Indian retail
Business Philosophy
- Focus on long-term value creation
- Ownership of store properties
- Low-cost operations
- Customer-centric approach
- Conservative expansion strategy
Philanthropy
- Donated ₹100 crore to PM-CARES Fund
- Contributed ₹55 crore to state relief funds
- Runs Shivkishan Mindaram Damani Charitable Trust
- Provides affordable lodging for patients’ families
Legacy and Impact
- Mentored famous investors like Rakesh Jhunjhunwala
- Revolutionized Indian retail sector
- Created successful business model
- Inspired new generation of entrepreneurs
Personal Traits
- Known for wearing white clothes
- Maintains low profile
- Rarely gives interviews
- Focus on disciplined business approach