1-India Family Mart

Last updated

1-India Family Mart
Type Private
Industry Retail
Founded
  • 2012;10 years ago (2012)
FounderJay Prakash Shukla and Ravinder Singh
Headquarters Delhi, India
Number of locations
100 Stores (21 November 2019) [1]
Area served
India
Key people
OwnerNysaa Retail Pvt. Ltd. [2]
Website 1indiafamilymart.com

1-India Family Mart is a chain of value retail stores in India operated by Nysaa Retail Pvt. Ltd. [3] [4] The chain has the total of 100 stores across 81 cities of East and North of India. [5] [6] 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. [7] [8]

Contents

History

1-India Family Mart was established in 2012 [9] [10] and began operations in 2013. The retail chain was co-founded by Jay Prakash Shukla and Ravinder Singh. [2] Nysaa Retail Pvt. Ltd. is the parent company of 1-India Family Mart. [2] 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. [12]

In 2022, a Mumbai-based ethnic apparel manufacturer Suumaya Industries bought a minority stake in its parent company Nysaa Retail. [12]

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. [2] [5] [7] [13] [14] In May 2019, company got its second round funding as external debt of amount 20 crore by a consortium led by APAC Financial Service. [15] [16]

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). [17] [12]

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References

  1. ↑ "Retail Chain 1-India Family Mart in talks with PE players for fund raising; eyes IPO in 2021". Moneycontrol. Retrieved 29 July 2019.
  2. 1 2 3 4 Kurup, Rajesh. "Nysaa Retail plans to invest 200 cr to open 100 more stores across India". Business Line . Retrieved 1 August 2018.
  3. ↑ "Retail Chain 1-India Family Mart in talks with PE players for fund raising; eyes IPO in 2021". Money Control. Retrieved 29 July 2019.
  4. ↑ "व्यावसायिक प्रगति की ओर बढ़ रहा लातेहार : भारती" (in Hindi). Dainik Jagran . Retrieved 1 August 2018.
  5. 1 2 "1-India Family Mart Launches the 50th Flagship Store in Ranchi". BusinessWorld . Retrieved 1 August 2018.
  6. ↑ "1-India Family Mart in talks to raise funds, to open 40 new stores". FashionNetwork.com. Retrieved 28 June 2020.
  7. 1 2 Dutta, Vishal. "Carpediem capital PE invests Rs 41.5 crore in 1-India Family Mart". The Economic Times . Retrieved 1 August 2018.
  8. ↑ "1-India Family Mart draws up 200 crore expansion plan". The Hindu . Retrieved 1 August 2018.
  9. ↑ 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 7 May 2020.
  10. ↑ Dutta, Vishal (26 February 2019). "Nysaa hires former ShopClues, V-Mart CFO to head group finance". The Economic Times. Retrieved 7 May 2020.
  11. ↑ Rebello, Maleeva. "1-India Family Mart CEO loves reading TS Eliot, feels his poems are complex, disruptive". The Economic Times. Retrieved 7 January 2021.
  12. 1 2 3 Bailay, Rasul. "1-India Family Mart raises Rs 50 crore in funding from Dubai-based Gulf Islamic Investments". The Economic Times. Retrieved 22 August 2022.
  13. ↑ "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.
  14. ↑ "Carpediem Capital invests USD 6.5 mn in 1-India Family Mart". Business Standard . Retrieved 1 August 2018.
  15. ↑ Dubey, Sandeep (2 May 2019). "1-India Family Mart raises debt funding of Rs 20 cr". ET Retail. Retrieved 30 July 2019.
  16. ↑ "1-India Family Mart raises Rs 20 cr". Business Standard India. Press Trust of India. 2 May 2019. Retrieved 30 July 2019.
  17. ↑ Roy, Debjyoti (25 February 2022). "GII invests ₹50 crore in 1-India Family Mart". mint. Retrieved 22 August 2022.


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