1-India Family Mart targets Rs 6 billion revenues by 2029
16 May, Mumbai 2025
Value retail chain 1-India Family Mart aims to achieve revenues worth Rs 6 billion besides expanding to 100 stores by 2029.
In its recently held Series D funding round, the company secured investments worth $12 million from both current and new supporters. Investors who attended this funding round included Gulf Islamic Investments, Singapore-based Foundation Private Equity, Carpediem Capital Partners, Capri Global Holdings, a group of high-net-worth individuals, and the company's promoter, JP Shukla.
1-India Family Mart had previously raised Rs 500 million ($6 million) in Series B funding from Dubai-based Gulf Islamic Investments (GII). Mumbai-based ethnic apparel manufacturer Suumaya Industries also acquired a minority stake in its parent company, Nysaa Retail. These new funds raised by 1-India Family Mart will be used to support its next phase of growth, including expanding its retail presence across India’s rapidly developing value retail sector.
Co-founded in 2012 by Jay Prakash Shukla and Ravinder Singh, 1-India Family Mart serves under-served markets through mid-sized stores in tier III and IV towns and villages throughout India. The brand focuses on tier II, III, and IV cities, enabling it to connect with India’s aspirational consumer base by offering affordable fashion, lifestyle products, and general merchandise through an organized retail format.
Currently, 1-India Family Mart operates 65 stores across 10 states and is continuing to expand its presence, particularly in North and East India. Its operations are supported by a centralized warehouse in Gurugram and a zero-reverse logistics policy, which ensures that all shipped inventory is sold, minimizing waste and maximizing operational efficiency.
