Over the past decade, India’s organised retail sector has been collapsing like a house of cards.
- 2009 – Most stores of Vishal Retail were closed down due to misallocation of capital by its management. It was eventually sold to investors in 2011.
- 2012 – Burdened with rising debt, Future Group was forced to sell its Pantaloons chain to the Aditya Birla Group.
- 2013 – Kishore Biyani’s Future Group had to shut 40% of its food and grocery chain of Food Bazaar stores.
And yet, D-Mart, a chain of hypermarkets and supermarkets, which has 155 stores at present, has not had to shut down a single store in 15 years.