One of the most well-known retail chains in India is Vishal Mega Mart. The middle class in India accounted for the majority of the brand’s customers, which helped it become a household name. This popular hypermarket chain was a one-stop solution for food, grocery, fashion, everyday, and lifestyle essentials on a budget.
But did you know who laid the basis of Vishal Mega Mart? In 2001–2002, Ram Chandra Agarwal was the company’s founder. Despite experiencing several ups and downs in its early years, Vishal Mega Mart is currently the nation’s fastest-growing retail market chain.
You will remain captivated by the retail chain’s success story and the inspirational path of Ram Chandra Agarwal’s entrepreneurship:
Vishal Mega Mart was founded by Ram Chandra Agarwal. Despite having polio, his spirit has never been affected.
Ram Chandra Agarwal’s achievement is the result of his unwavering diligence. He comes from a low-income household and contracted polio, which left him permanently unable. Ram had been on crutches since he was a teenager. However, his perseverance and diligence prevented his impairment from affecting his destiny. With his parents’ help, Ram finished his education and graduated.
Ram Chandra Agarwal’s entrepreneurial journey started with a little copying shop:
To provide for his family, Ram Chandra Agarwal started a small photocopying business. Ram took out a loan immediately after graduation to start his copying shop in order to help his family’s financial situation. His first company endeavour taught him the fundamentals of the industry, which enabled him to recognise his entrepreneurial impulses.
After nearly a year, he shuttered the store because he had more ambitious intentions. Ram then launched a retail clothes store in Lal Bazaar, Kolkata. Ram Chandra Agarwal did everything in his power to keep his business viable in the fiercely competitive and difficult textile and clothing sector. For fifteen years, he operated his shop in Lal Bazaar.
He gained knowledge about Indian consumers and the retail apparel sector during this time, which helped him comprehend the target market. He used to engage directly with customers, keeping an eye on shifts in consumer preferences and trends.
After closing his Lal Bazaar store, which prospered for 15 years, Vishal Mega Mart was born.
In 2001, fifteen years later, he made the decision to make the big move. He launched his retail store in Delhi after closing his clothing store in Kolkata. Vishal Mega Mart was eventually born out of this. Ram Chandra Agarwal launched Vishal Retail, his retail company, in 2002. After his hypermarket concept gained enough traction, he made the decision to enlarge it under the name Vishal Mega Mart.
In 2001, fifteen years later, he made the decision to make the big move. He launched his retail store in Delhi after closing his clothing store in Kolkata. Vishal Mega Mart was eventually born out of this. Ram Chandra Agarwal launched Vishal Retail, his retail company, in 2002. After his hypermarket concept gained enough traction, he made the decision to enlarge it under the name Vishal Mega Mart.
Vishal Mega Mart was sold for Rs 70 crores after suffering a huge loss of Rs 750 crores:
The 2008 stock market and economic crisis severely hampered Ram Chandra Agarwal’s ambitions for Vishal Mega Mart. His profitable company lost 750 crores of rupees. Ram Chandra Agarwal reportedly had to sell the “Vishal” trademark, which was valued at Rs 2000 crore, to Shriram Group and TPG Capital for just Rs 70 crore when the company was on the verge of going bankrupt.
Ram Chandra Agarwal recovered with his new venture, V2 Retail, so this was not the end.
When Ram Chandra Agarwal was given another chance, he made sure to take full use of it. He founded V2 Retail and returned stronger than before. V2 Retail is currently one of the retail brands with the quickest rate of growth in India. As of right now, they operate more than 150 locations in India.
A Screener analysis states that as of May 2025, V2 Retail Limited has a market value of Rs. 6,572 crores, with ROCE and ROE at 10.8% and 10.4%, respectively. The first V2 Retail location opened in Jamshedpur, and the company’s revenue exceeded Rs. 100 crore in 2013.
When Ram went from selling his company at a loss to creating V2, the business community was taken aback. Although Ram Chandra Agarwal’s exact net worth is unknown, his retail company is reportedly worth an incredible Rs. 6,572 crore.
In the retail apparel industry, Ram Chandra Agarwal once again demonstrated his ability to take on industry titans like Ratan Tata and Mukesh Ambani.
Uma Agarwal, the wife of Ram Chandra Agarwal, is the director of V2 Retail.
Uma Agarwal and Ram Chandra Agarwal are wed. She currently works with V2 Retail Limited as a full-time director. Akash and Shreya Agarwal, the couple’s two children, are a blessing. Additionally, Akash serves as V2 Retail Limited’s full-time director. It is unknown where Shreya Agarwal works for the company. Their daughter is reportedly enrolled in the USC Marshall School of Business in the United States, though.
Reports state that Akash Agarwal is assisting his father in growing the family business. According to reports, the young entrepreneur is seeing Ines Knani, a speech and language therapist.
Ines Knani is frequently seen with Akash Agarwal’s parents, Ram Chandra Agarwal and Uma Agarwal, as well as during his family gatherings. Although there is currently no proof, there have been rumours that Akash also owns or co-owns the well-known Aquatica: Water Park Resort Banquet in Kolkata.
The journey of Ram Chandra Agarwal is incredibly motivating. Please share your opinions about his trip in the comments section below.
