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A DMart store in the suburbs of Udupi.. Incorporated in 2000 by Radhakishan Damani, DMart opened its first store in Powai, Mumbai, in 2002. [3] [4] In its early years, the company adopted everyday low price strategy [4] and pursued "slow expansion", growing to 29 stores across Maharashtra and Gujarat in 2010.
[16] [17] He quit stock market in 2000 to start his own hypermarket chain, DMart, setting up the first store in Powai in 2002. The chain had 25 stores in 2010, after which the company grew rapidly and went public in 2017. [15] [18] [19] In 2020, he became the fourth-richest Indian with a net worth of $16.5 billion.
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