In March 2019, a landmark event unfolded in Raipur, Chhattisgarh, as Vijay Kumar Kankariya, a seasoned businessman with deep roots in retail, inaugurated his first hypermarket, Shubham K Mart. This 11,000-square-foot store marked not only a significant business venture but also a personal milestone for Vijay, who had spent decades immersed in his family’s enterprises.
The Kankariya family, renowned in Chhattisgarh’s business circles for their reputation of quality and trust, began their entrepreneurial journey in 1984 with the launch of Sumeet Bazaar, now the state’s largest multi-brand fashion chain with 40 stores. By 2005, they expanded into the jewelry sector with Sumeet Jewellers, now operating five showrooms, and later diversified into real estate with Sumeet Infracon.
Vijay, driven by a vision to integrate all essential aspects of daily life—food, clothing, and shelter—saw the hypermarket as the next logical step, furthering the family’s legacy of innovation and expansion.
From Textile Beginnings to Bold Play in Grocery
The Kankariya family’s entry into the grocery retail market was both a strategic decision and a necessity, driven by the need for diversification within the joint family business structure, which includes five brothers and eleven nephews. Vijay Kumar Kankariya identified a gap in organized grocery retail in Raipur and saw an opportunity to make a significant impact. “The scarcity of organized retailers presented a promising opportunity,” says Vijay, who began his business journey at the age of 14 in a textile shop and now serves as Chairman of Shubham K Mart.
The launch of the 11,000-square-foot Shubham K Mart marked a major milestone for the family, with the store designed to meet every household need, from groceries and FMCG goods to fashion, home décor, and appliances. The store’s name honors Vijay’s eldest son, Shubham Kankariya, whose leadership as Director has been instrumental in its success. Shubham, a graduate of O.P. Jindal Global University, with further credentials from the University of Oxford and the London School of Economics, brings a global perspective to the family business.
Vijay is confident in the brand’s growth potential: “Shubham K Mart was founded with a mission to provide quality goods at everyday low prices while offering an enhanced customer experience, making us the preferred one-stop solution for all shopping needs in the region.”
From Inaugural Triumph to Rapid Expansion
The inaugural launch of Shubham K Mart in March 2019 was a resounding success, with the hypermarket quickly earning praise for its scale and comprehensive offerings. The event validated Vijay Kumar Kankariya’s strategic vision and set the stage for rapid expansion.
Following the success of the flagship store, Vijay and his son, Shubham Kankariya, accelerated their growth plans, opening three additional stores across Chhattisgarh. In April, a 5,000-square-foot store launched in Saraipali, followed by a 4,000-square-foot store in May. By September, they had unveiled their largest store, a 12,000-square-foot hypermarket, further solidifying their regional presence.
Throughout this expansion, Vijay and Shubham demonstrated a deep understanding of market needs and a strong commitment to their vision for growth.
Catchment Area Analysis and Choosing the Right Spot
When selecting locations for Shubham K Mart, Vijay, Shubham, and his younger siblings, Sanyam and Sumeet, follow a detailed approach to assess each catchment area’s viability. This process begins with site visits to evaluate local demographics, population size, and customer proximity.
After initial assessments, the team rigorously reviews potential locations. “Out of 100 proposed sites, only about 10 are chosen based on a thorough evaluation of their viability,” says Shubham. The selection criteria focus on whether the location can effectively serve the target customer base, ensuring only the most promising sites are pursued.
Product Mix and Strategic Focus
At Shubham K Mart, the product assortment is strategically curated to meet diverse customer needs. “The composition of our product basket is thoughtfully designed to ensure a comprehensive shopping experience,” says Shubham Kankariya.
Fast-Moving Consumer Goods (FMCG) make up 40% of the product range, ensuring customers have easy access to everyday necessities, which fosters repeat business and loyalty. Grocery items account for 25% of the total product range, including staple foods such as grains, pulses, and dairy, addressing core household needs.
General Merchandise comprises 15% of the assortment, featuring non-food items like home décor and kitchenware, while clothing also represents 15%, offering apparel for all ages. Electronics account for the remaining 5%, including small appliances and gadgets.
This strategic allocation reflects Shubham K Mart’s commitment to optimizing retail performance and customer satisfaction, positioning it as a comprehensive retail destination that drives both customer loyalty and business growth.
Retail Success Unveiled
Shubham K Mart’s remarkable journey from a single store to a robust chain of 35 locations, encompassing over 350,000 square feet of retail space in just five years, is a testament to the entrepreneurial spirit of Vijay Kankariya and his family.
Instead of retreating in the face of challenges, the Kankariyas seized the opportunity to enhance their business. They critically analyzed operations, expanded store footprints, diversified product offerings, and refined retail strategies. Their relentless efforts paid off; not only did they catch up to their competitors, but they also surpassed them.
Vijay’s philosophy of retail success revolves around three core principles: Rate, Relationship, and Range. Rate emphasizes competitive pricing, Relationship highlights the importance of building trust with customers, and Range signifies the necessity of a diverse product selection.
The hypermarket model of Shubham K Mart is designed to meet customers’ everyday needs with a wide assortment of products, from groceries and FMCG items to general merchandise and fashion, ensuring a one-stop shopping experience.
Looking ahead, the retailer plans to significantly expand its private label portfolio, introducing approximately 300 new products across various categories, including hand wash, soap, detergent, and packaged sweets. This initiative aims to provide high-quality, affordable alternatives while enhancing market presence and driving growth.
Shubham Kankariya emphasizes the company’s commitment to elevating the shopping experience: “Our goal is to delight customers with exceptional service and unbeatable deals.” To further enhance convenience, the stores feature ample parking space for a hassle-free experience.
Target Demographics and Customer Retention
Shubham K Mart’s success can be attributed to its unwavering focus on the 3 R’s: Rate, Relationship, and Range, which collectively attract shoppers from all walks of life. Vijay Kankariya explains, “Our core target demographic is the urban middle class, which serves as the foundation of our customer base and drives the majority of our business. However, our stores appeal to a broader audience due to the universal need for groceries and essential household items.”
By concentrating on the urban middle class, the retailer aligns its offerings with the preferences of a sizable and stable consumer group while ensuring it meets the needs of a diverse customer base.
Beyond attracting customers, Shubham K Mart aims to retain them through exceptional service and a superior shopping experience. Vijay highlights the importance of creating a positive first impression: “When customers enter our store, they are welcomed by our extensive product range, high-quality offerings, and professional staff. This experience encourages repeat visits and fosters loyalty.”
Shubham emphasizes the significance of ongoing investment in research and development (R&D), stating, “By prioritizing R&D, we can introduce novel products that resonate with our customers and enhance their shopping experience.” The introduction of new products is a strategic initiative aimed at stimulating interest and encouraging repeat visits. “When customers discover fresh offerings, their engagement with our stores increases.”
The principle is straightforward: “The greater the variety we offer, the more likely we are to attract customers seeking diverse options in a single shopping trip.” This strategic focus on the urban middle class, combined with a commitment to exceptional customer service and a superior shopping environment, has positioned Shubham K Mart as a leading retail destination in Chhattisgarh.
To further enhance customer engagement and streamline operations, the retailer is developing an innovative new app.
Future Plans
Shubham K Mart’s rapid ascent from a single store to a major retail chain in just five years is a testament to the vision, perseverance, and strategic execution of Vijay and Shubham Kankariya. Through a focus on core retail principles and a commitment to innovation, they have continuously adapted to meet changing consumer demands, making their brand a success story in the competitive retail sector.
Looking ahead, the Kankariya family aims to cement Shubham K Mart as a ubiquitous name in retail. Their ambitious target is to reach Rs. 1.5 lakh crore in revenue by the fiscal year 2025-26. To achieve this, they plan to open 19 new stores this year, expanding in Chhattisgarh, Gujarat, Odisha, Madhya Pradesh, Rajasthan, and beyond.
Vijay’s belief in the venture’s long-term success, combined with the family’s strategic foresight, sets a strong foundation for continued growth. The focus on brand visibility and operational expansion ensures Shubham K Mart is well-positioned to achieve its financial and market goals, strengthening its presence across the retail landscape.
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