From a single store in 2014 to a trailblazing expansion across Gujarat with 15 stores that today occupy 3,65,000 sq.ft. of trading area, the 5-year retail journey of Dhirendra Chopra, Managing Director, Osia Hyper Retail Ltd., is one for the management case studies. With plans to launch 8 more by fiscal 2020, it is indeed a remarkably epic success which even doughty entrepreneurs would take decades to accomplish.
How many of us can even dream of launching a business without counting the pennies in our pocket or bringing our dough to the project? But that’s exactly what Dhirendra Chopra of Osia Hyper Retail Ltd managed to pull off. The man started from scratch and single-handedly scaled his enterprise to unprecedented heights in the face of a tough fight from longstanding and established national supermarket/ hypermarket chains.
When Chopra launched his first Osia store in Ahmedabad in 2014, it was without bringing in any personal capital investment, thanks to his wonderful rapport with the vendors that he had cultivated over the years working for other retail stores. “All I had back then was the credit and fund of goodwill with the vendors that I had developed working for a regional store in the State. When I set out on my own, each of them came forward to extend a lot of support in making Osia the prominent name that it is today. With the goodwill I had earned over the preceding years, I was able to get a 10,000 sq.ft. space on rent. I thank the landlord who agreed to rent me the place without any deposit or advance.”
Dhirendra Chopra’s initial years in the retail industry were spent working the line at stores where he learned the ropes and picked up tricks of the trade. After slogging for 13 years in other stores, he decided it was time to move on and start something of his own. “Even though I was happy with my job, the entrepreneurial bug bit me, and I took a leaf of faith because I knew there was a lot more for me to achieve. I had held various jobs including that of General Manager in retail stores, which gave me the necessary experience I needed. So, when I quit my job in 2014, I moved quickly to open my first Osia store in Ahmedabad.”
Chopra has been part of the retail industry for almost 17 years now. For the first 10-12 years, he was primarily occupied with sourcing and also with running the management and operations of regional stores in Gujarat and Rajasthan. Over the years and in the course of his stints, he developed his core strength in sourcing, especially soucing different categories of non-food items – apparel, household products, handicrafts, home furnishing, gift articles, footwear, etc. “I succeeded in building a strong network of vendors from India and China and managed to grab the best deals for the stores,” he says.
By dint of his dedication and perseverance, Osia Hypermart has clocked excellent growth in the past 5 years and with an annual turnover of Rs. 250 crores in FY 2018-19 it emerged as a top retailer in Gujarat with a reputational edge in value retailing and offering products at competitive prices.
Osia Hyper Retail Ltd. had also debuted on the National Stock Exchange of India on 26th March this year. The stock has been able to generate investor interest with its performance on the bourse so far. The scrip closed at Rs. 267 at the end of the trading day on Dec. 5th and has been able to garner a healthy ROI compared with the industry average.
Today, with a bench strength of 700 dedicated and experienced employees, Osia Hypermart operates 15 stores spanning 3,65,000 sq.ft. of trading area across the state of Gujarat. And, there seems to be no looking back for this rising star as it speeds ahead “on the road to adding another 8 stores to its current count of 15 by the end of FY ’19-20,” Chopra shares!
To read the complete story, look up the December issue of Progressive Grocer.
The story explores Osia’s success journey, key milestones, capital strategy, growth plans, tech integration, its store setup and layouts, besides presenting a host of delightful insights on Osia’s focus on consumer centricity, engagement, and loyalty; and the winning tactics that made a difference in each area.