1-India Family Mart is a chain of value retail stores in India operated by Nysaa Retail Pvt. Ltd.[2][3] The chain has the total of 100 stores across 81 cities of East and North of India.[4][5] 1-India Family Mart has established the first store in Uttar Pradesh and later has expanded operations across Bihar, Chhattisgarh, Uttrakhand, Jharkhand, Madhya Pradesh, Odisha and the North East.[6][7]
History
1-India Family Mart was established in 2012[8][9] and began operations in 2013. The retail chain was co-founded by Jay Prakash Shukla and Ravinder Singh.[10] Nysaa Retail Pvt. Ltd. is the parent company of 1-India Family Mart.[10] JP Shukla CEO and co founder of family mart is also known to be very fond of poetry and is a fan of T. S. Eliot's work[11]
It is engaged in the business of selling fashion apparel, lifestyle products and general merchandise through stores.
In 2022, a Mumbai-based ethnic apparel manufacturer Suumaya Industries bought a minority stake in its parent company Nysaa Retail.
Funding
In 2017, 1-India Family Mart has raised a funding of $6.5 million (42.5 crore) from domestic private equity fund Carpediem Capital.[10][4][6][12][13] In May 2019, company got its second round funding as external debt of amount 20 crore by a consortium led by APAC Financial Service.[14][15]
In 2022 the company raised INR 50 crore as a part of Series B round of funding. The round was led by the Dubai-based Gulf Islamic Investments (GII).[16][17]
See also
- Retailing in India
- List of supermarket chains in India
- Big Bazaar
External links
References
- Retail Chain 1-India Family Mart in talks with PE players for fund raising; eyes IPO in 2021 Moneycontrol, retrieved 29 July 2019^
- Retail Chain 1-India Family Mart in talks with PE players for fund raising; eyes IPO in 2021 Money Control, retrieved 29 July 2019^
- व्यावसायिक प्रगति की ओर बढ़ रहा लातेहार : भारती Dainik Jagran, retrieved 1 August 2018^
- 1-India Family Mart Launches the 50th Flagship Store in Ranchi BusinessWorld, retrieved 1 August 2018^
- 1-India Family Mart in talks to raise funds, to open 40 new stores FashionNetwork.com, 30 July 2019, retrieved 2020-06-28^
- Vishal Dutta. Carpediem capital PE invests Rs 41.5 crore in 1-India Family Mart The Economic Times, retrieved 1 August 2018^
- 1-India Family Mart draws up 200 crore expansion plan The Hindu, retrieved 1 August 2018^
- www.ETBrandEquity.com. Apparel makers ring in an early festive season thanks to tax sops; consumer spend set to rise - ET BrandEquity ETBrandEquity.com, retrieved 2020-05-07^
- Vishal Dutta. Nysaa hires former ShopClues, V-Mart CFO to head group finance The Economic Times, 2019-02-26, retrieved 2020-05-07^
- Rajesh Kurup. Nysaa Retail plans to invest 200 cr to open 100 more stores across India Business Line, retrieved 1 August 2018^
- Maleeva Rebello. 1-India Family Mart CEO loves reading TS Eliot, feels his poems are complex, disruptive The Economic Times, retrieved 2021-01-07^
- Carpediem Capital invests USD 6.5 mn in 1-India Family Mart - Asian News International Asian News International, 18 January 2018, retrieved 1 August 2018^
- Carpediem Capital invests USD 6.5 mn in 1-India Family Mart Business Standard, retrieved 1 August 2018^
- Sandeep Dubey. 1-India Family Mart raises debt funding of Rs 20 cr ET Retail, 2019-05-02, retrieved 2019-07-30^
- 1-India Family Mart raises Rs 20 cr Business Standard India, 2019-05-02, retrieved 2019-07-30^
- Debjyoti Roy. GII invests ₹50 crore in 1-India Family Mart mint, 2022-02-25, retrieved 2022-08-22^
- Rasul Bailay. 1-India Family Mart raises Rs 50 crore in funding from Dubai-based Gulf Islamic Investments The Economic Times, retrieved 2022-08-22^