1-India Family Mart Explained

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

Notes and References

1. Web site: Retail Chain 1-India Family Mart in talks with PE players for fund raising; eyes IPO in 2021. Moneycontrol. 29 July 2019.
2. News: Retail Chain 1-India Family Mart in talks with PE players for fund raising; eyes IPO in 2021. Money Control. 29 July 2019.
3. News: व्यावसायिक प्रगति की ओर बढ़ रहा लातेहार : भारती. Dainik Jagran. hi. 1 August 2018.
4. News: 1-India Family Mart Launches the 50th Flagship Store in Ranchi. BusinessWorld. 1 August 2018.
5. Web site: 1-India Family Mart in talks to raise funds, to open 40 new stores. 2020-06-28. FashionNetwork.com. en-IN.
6. News: Dutta. Vishal . Carpediem capital PE invests Rs 41.5 crore in 1-India Family Mart. The Economic Times. 1 August 2018.
7. News: 1-India Family Mart draws up 200 crore expansion plan. The Hindu. 1 August 2018.
8. Web site: Apparel makers ring in an early festive season thanks to tax sops; consumer spend set to rise - ET BrandEquity. www.ETBrandEquity.com. ETBrandEquity.com. en. 2020-05-07.
9. News: Dutta. Vishal. 2019-02-26. Nysaa hires former ShopClues, V-Mart CFO to head group finance. The Economic Times. 2020-05-07.
10. News: Kurup. Rajesh . Nysaa Retail plans to invest 200 cr to open 100 more stores across India. Business Line. 1 August 2018.
11. News: Rebello. Maleeva. 1-India Family Mart CEO loves reading TS Eliot, feels his poems are complex, disruptive. The Economic Times. 2021-01-07.
12. News: Carpediem Capital invests USD 6.5 mn in 1-India Family Mart - Asian News International . Asian News International. 18 January 2018. 1 August 2018.
13. News: Carpediem Capital invests USD 6.5 mn in 1-India Family Mart. Business Standard. 1 August 2018.
14. Web site: 1-India Family Mart raises debt funding of Rs 20 cr. Dubey. Sandeep. 2019-05-02. ET Retail. en. 2019-07-30.
15. News: 1-India Family Mart raises Rs 20 cr. Press Trust of India. 2019-05-02. Business Standard India. 2019-07-30.
16. Web site: Roy . Debjyoti . 2022-02-25 . GII invests ₹50 crore in 1-India Family Mart . 2022-08-22 . mint . en.
17. News: Bailay . Rasul . 1-India Family Mart raises Rs 50 crore in funding from Dubai-based Gulf Islamic Investments . The Economic Times . 2022-08-22.