Radhakishan Damani

Radhakishan Shivkishan Damani (born 1954) is an Indian billionaire businessman and the founder of Avenue Supermarts, which operates the popular DMart retail chain. Known as the "Retail King of India," Damani is one of the most successful value investors in India and has built DMart into one of the most profitable retail chains in the country. Damani comes from a Marwari family in Mumbai. Before entering retail, he was a successful stock market investor and trader. He is known for his reclusive personality and avoids public appearances, making him one of the most mysterious billionaires in India. He reportedly started investing in the stock market in the 1980s and built significant wealth through value investing. Damani founded Avenue Supermarts in 2002 and opened the first DMart store in Andheri, Mumbai, in 2002. DMart follows a low-cost, high-volume business model, offering groceries and household products at discounted prices. The chain focuses on middle-class Indian families and is known for its "Everyday Low Cost — Everyday Low Price" philosophy. DMart has grown to over 350 stores across India, with the company's IPO in 2017 being one of the most successful in Indian history — the stock price multiplied several times within months. Avenue Supermarts' market capitalization has exceeded $60 billion, making Damani one of India's richest people with a net worth of over $25 billion. His investment style, inspired by Warren Buffett, focuses on buying quality businesses at reasonable prices and holding them for the long term.