Vishal Mega Mart is one of the most recognised brands in India. The name holds a special place in the hearts of millennials, who have seen the rise and fall of this popular fashion-led hypermarket chain. Ram Chandra Agarwal founded the company in 2001-2002, and it is now one of the fastest-growing retail markets in India. One of the biggest factors behind the success of Vishal Mega Mart in India is the brand's commitment to providing high-quality products at reasonable prices.
It wasn't a cakewalk for Ram Chandra Agarwal to build Vishal Mega Mart, which belongs to the ever-so-challenging textile and apparel industry. Even after so many years, Vishal Mega Mart continues to attract consumers to India's top-tier cities. The company broke headlines when it made its Bombay Stock Exchange and National Stock Exchange on December 18, 2024. Vishal Mega Mart surged 41 percent on its debut trade, creating a stir in India's hypermarket industry.
For the uninitiated, Ram Chandra Agarwal was born into a poverty-stricken family, due to which he even fell prey to polio, which made him handicapped for all his life. It was a heartbreaking moment for Ram Chandra, who was just a mere teen when he lost his ability to walk without crutches. However, he didn't give up, and with his parent's constant support, Ram Chandra completed his schooling and even pursued graduation.
Due to his family's poor financial condition, Ram Chandra Agarwal reportedly decided to start his own business as soon as possible to support his family. After graduating, Ram Chandra Agarwal took out a loan to open his photocopy shop. The entrepreneur had learnt the business basics while running his shop and closed it after almost a year. The reason behind it was his ambition to create something big, and in order to achieve it, Ram Chandra Agarwal opened a retail clothing outlet in Kolkata's Lal Bazaar.
Fifteen years as a garment shop owner in Kolkata, Ram Chandra Agarwal understood many things about Indian consumers and how the retail clothing industry works. Chandra Agarwal gained a lot of knowledge about consumers' needs because he interacted with buyers directly and saw a lot of trends and changes in consumers' tastes. Finally, it was in 2001 that he decided to take the leap of faith, closing his garment shop in Kolkata to open his retail business in Delhi.
Continue reading below
Ram Chandra Agarwal kickstarted his journey as an entrepreneur after he opened the first store of his retail business, Vishal Retail, in Delhi in 2002. After his hypermarket concept gained enough attention and success, Ram Chandra Agarwal popularised and expanded it under the name of Vishal Mega Mart. In the following years, he witnessed massive success, and to open more stores, he took hefty loans from the bank.
It was the year 2008, and a major fall in the stock market resulted in Vishal Retail suffering from a huge loss of Rs. 750 crores. The company was on the edge of being bankrupt, but Ram Chandra Agarwal finalised a deal with Shriram Group and TPG Capital and sold the 'Vishal' brand for Rs. 70 crore. After this, he embarked on a new journey and laid the foundation of V2 Retail. It was a masterstroke by the business tycoon, who made V2 Retail one of India's fastest-growing retail brands.
V2 Retail's first store opened in Jamshedpur, and in 2013, the company's turnover exceeded Rs. 100 crore mark. How Ram Chandra Agarwal sold Vishal and introduced V2 Retail in the Indian retail industry, the complete incident shocked everyone in the business world to the core. In 2014, V2 Retail scaled rapidly, and the turnover crossed the Rs. 225 crore mark. Fast forward to 2024, and V2 Retail has over 150 stores across India. Talking about Ram Chandra Agarwal's net worth, the exact figure is unknown, but he is the owner of a Rs. 1000 crore company, V2 Retail Limited.
Talking about Ram Chandra Agarwal's personal life, he is married to Uma Agarwal, who is the whole time director of V2 Retail Limited. The couple has two children, Akash Agarwal and Shreya Agarwal. While Akash is also the full-time director of V2 Retail Limited, not much is known about Shreya's role in the company.
Ram Chandra Agarwal's daughter, Shreya Agarwal, is reportedly studying at USC Marshall School of Business, US. She has 21.7K followers on her Instagram handle and never misses a chance to impress everyone with her stunning pictures. Talking about her brother, Akash Agarwal, he is working with his father to expand their family business and is reportedly dating a stunning speech and language therapist named Ines Knani.
We have often seen Ines Knani attending Akash Agarwal's family events and even posing with her parents, Ram Chandra Agarwal and Uma Agarwal. If the reports are to be believed, Akash also owns or co-owns Kolkata's famous Aquatica: Water Park Resort Banquet. The family of four is leading a happy life, and we hope Ram Chandra Agarwal continues to inspire generations with his entrepreneurial decisions and vision.
What are your thoughts on Ram Chandra Agarwal's entrepreneurial journey? Let us know.
Also Read: Meet Ashneer Grover's Wife, Madhuri Jain: Investor Who Is Among India's Highest Female Taxpayers
advertisement
advertisement
advertisement
