Kirit J Maganlal
Founder and CEO
A retail pioneer from West India, Kirit Maganlal launched Magsons in 1990 at Miramar, Goa. Apart from a supermarket, the first Magsons outlet housed a 10-room hotel, an ice cream parlour, and restaurant & bar. From 2002 onward, Maganlal began focusing on supermarket offerings.
“Goa has a strong Portuguese and western influence and the demand for cold meats and gourmet products was growing. So, we redesigned our supermarket and introduced an exclusive range in gourmet categories,” Maganlal says.
Magsons is now a 10-store-strong chain with outlets across Goa (six in North Goa, four in South). All Magsons stores are of different formats and cater specifically to the surrounding catchments. The chain was awarded the Coca Cola Golden Spoon Award for the Most Admired Foreign Food Retailer of the Year: West India by FIFI (Forum of Indian Food Importers) in 2012.
“The underlying and motivating factor in the growth story of Magsons is the passion for providing innovation in services and offerings. We cater to a wide consumer base, especially to those that have a passion and understanding of good food,” he elaborates. “The locals have a natural understanding of fine meats, fine wines and premium food products. This prompted us to venture into niche categories of exhaustive varieties of locally sourced and international quality food products such as Spanish and Italian meats, French cheese, Swiss chocolates, and Australian, South African, Chilean and French wines, to name a few. Moreover, unlike many other grocery stores, all Magsons outlets are equipped with state-of-the-art refrigeration and display equipment, shelving and merchandising tools and more.”
“The future is food; there’s no denying this fact. The difference between the leader and the ‘also ran’ will lie in the understanding of the consumer’s needs, adapting offerings to satisfy that need, and making the customer so dependent on your service offering that he sees no other choice,” says Maganlal.
“To achieve full potential, Indian retailers must capture complete the mind share of Indian consumers. It’s challenging but that’s what will make the difference. And that’s what we are striving to achieve!”
Being with customers is what drives his ever growing passion for retail, Maganlal notes. “I enjoy being in retail because it brings me face to face with my customer, thousands of them!”
Maganlal’s remarkable achievements in propelling the evolution of retail in Goa have been acknowledged by peers and industry bodies alike. He is the chairman of the Confederation on Indian Industry (CII) – Goa State Council, a Board Member of Goa Chamber of Commerce & Industry and ITI Management Committee, Panaji. He also been Past Chairman of the Retail & Consumer Affairs Committee, GCCI Goa, Past President of the Travel & Tourism Association of Goa, and Hon Trustee of Asha Deep School for Children with Special Needs, Sada, Vasco.
His many honours include being the Kamal Patra Awardee of the Junior Chamber International, and Magsons being adjudged “Business of the Year 2012” by Business Goa.