Radhakishan Damani is renowned as one of India’s most successful entrepreneurs, primarily known for founding the D’mart chain of supermarkets. With a staggering net worth of $23 billion, he has earned the title of “India’s retail king.” Beyond his business acumen, Damani’s legacy is carried forward by his three daughters: Madhu Chandak, Manjri Chandak, and Jyoti Kabra. Each of them plays a vital role in the family business, further strengthening the foundation laid by their father.
Radhakishan Damani: A Brief Overview
Before diving into the lives of his daughters, it’s essential to understand the man behind the success. Radhakishan Damani is not just a retail mogul; he is also a savvy stock market investor. As the founder and chairman of Avenue Supermarts Limited, he has revolutionized the retail landscape in India. The D’mart chain has become a household name, known for its affordability and quality, drawing customers from all walks of life.
The Daughters of Radhakishan Damani
Madhu Chandak
Madhu Chandak holds a master’s degree in finance from Cardiff University, equipping her with the knowledge and skills necessary for the family’s business ventures. She actively represents her father’s interests on the board of trustees of the Bombay Swadeshi Stores, an iconic retail establishment in India.
Community Engagement
In addition to her corporate responsibilities, Madhu is instrumental in managing D-Mart’s Corporate Social Responsibility (CSR) activities. Her focus on CSR reflects the family’s commitment to giving back to society and fostering a positive impact through their business operations.
Manjri Chandak
Manjri Chandak serves as a director of Avenue Supermarts Limited and is currently involved with seven different companies, including her family’s retail venture. Her hands-on approach in the business allows her to engage with day-to-day operations, especially in merchandising.
Focus on Consumer Businesses
With a keen interest in consumer businesses, Manjri benefits from her father’s guidance, learning the intricacies of operations within the sector. Her strategic involvement has helped D’mart refine its product offerings and maintain its competitive edge in the market.
Jyoti Kabra
Like her sister Manjri, Jyoti Kabra is also deeply engaged in the daily operations of D’mart, focusing on merchandising and consumer business operations. Her involvement ensures that the family maintains a strong presence in the retail market.
Learning from a Legacy
Guided by her father, Jyoti is learning to navigate the complexities of the retail industry. Her hands-on experience positions her well for future leadership roles within the family business.
A Historic Investment: Bombay Swadeshi Stores
In 2015, Madhu, Manjri, and Jyoti made headlines when they acquired half the stake in the 115-year-old Bombay Swadeshi Stores for Rs 42 crore. This historic retailer was founded by prominent freedom fighters and industrialists, including Bal Gangadhar Tilak and JRD Tata. The sisters’ investment signifies not just financial interest but also a commitment to preserving and modernizing a significant piece of India’s retail history.
