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Vishal Mega Mart is one of the most popular and recognised brands in India with a major share of its customers coming from the Indian middle class. If you are looking for good food, home grocery or fashion in your budget, Vishal Mega Mart is one of the stores that you must visit. However, do you know that the founder of the Vishal Mega Mart has a story that can inspire generations.
Ram Chandra Agarwal is the founder of Vishal Mega Mart. He founded the company in 2001-2002, which has now become one of the fastest-growing retail markets in India. Readers who have followed the business of Vishal Mega mart should know that one of the biggest reasons behind the brand’s success is the fact that they provide high-quality products at reasonable prices.
The entrepreneurial journey of Ram Chandra Agarwal began with a small photocopy shop, which he had to open in order to support his family. Though the shop did not last very long, it helped Ram Chandra identify his business instincts.
In his second business innings, he opened a cloth store in Kolkata’s Lal Bazaar and ran it for 15 years. After giving 15 years to the business, he decided to take the next step. He decided to close his garment shop in Kolkata and open his retail business in Delhi, which he later renamed into Vishal Mega Mart.
However, the real challenge for Ram Chandra Agarwal was yet to come as the 2008 economic crisis brought a huge setback for Vishal Mega Mart. Due to a massive loss of Rs 750 crores, Ram Chandra Agarwal had to sell the ‘Vishal’ brand reportedly worth Rs 2000 crore to Shriram Group and TPG Capital just for Rs 70 crore.
Also, it is worth mentioning that Ram Chandra Agarwal was born in a very poor family, due to which he even fell prey to polio, making him handicapped for all his life. Life gave a second chance to Ram Chandra Agarwal when he laid the foundation of V2 Retail, which is one of India’s fastest-growing retail brands with more than 150 stores across India as of date. So, this was the story of a man who once challenged Mukesh Ambani, Ratan Tata in the retail clothing sector, now growing up to beat them all over again.
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