From a Bakery Shop to Rs 200 Crore turnover; Success Story of Delhi’s ‘Modern Bazaar’
Established in 1971 by Late Shri Vishwant Kumar, Modern Bazaar was set up as India’s First Supermarket selling imported food products in the C Block Market, Vasant Vihar, New Delhi. In the last 5 decades, Modern Bazaar has created itself a name as the One Stop place for all essential and exclusive grocery and food products in Delhi and NCR. From a single outlet to having spread into 14 sprawling outlets in Delhi, Gurgaon & Noida, Mr Kunaal Kumar, current Director has taken Modern Bazaar to new heights.
Kunaal Kumar was an engineering grad who wanted to pursue an MBA in the 90s to brush up his management skills. However, his father owned a bakery business in Delhi’s Vasant Vihar and was sure that he could teach his son business lessons better than any MBA college. The bakery business was established since 1971, which meant his father has had his fair share of experience in the trade business. Kunaal graduated in 1991 and started working in his father’s bakery.
It was in 2005 when Kunaal felt prepared to try his hand in the business himself, he decided to relaunch Modern Bazaar. However, this time he planned to launch it as a chain of retail outlets in the Delhi-NCR region rather than just a bakery business. The bakery business was doing very well for the Kumar family. However, one night a tragedy occurred that pulled their dreams back for a while. Their bakery shop caught fire which forced them to shut it down. After the incident, Kunaal’s father decided to retire and that is when he decided to relaunch his business. He did start with a small bakery shop but soon turned it around by providing its customers with more than just baked goods. Soon he turned towards the business of retail outlet and has never looked back since.
Modern Bazaar today has become a huge name in the retail sector and employs over 900 people and serves more than 25000 products. The outlets witness over 5000 daily footfall and it has gone online as well.