Meet Ram Chandra Agarwal, the man behind Vishal Mega Mart, the brand that broke the internet with viral memes
The aura of India's social media has found a new obsession, no, it is not a movie star or a political drama, or a Ghibli Studio art, but a security guard. Not just any guard, mind you, one at Vishal Mega Mart. The internet is buzzing with memes, fake coaching centres, and mock motivational reels about cracking the supposedly elite entrance exam for the role. What started as a company assessment on April Fool's Day has now become a full-blown meme movement. But beneath the humour lies the tale of a man who built a brand so influential, it turned into a cultural punchline, and that man is Ram Chandra Agarwal.
Vishal Mega Mart pic.twitter.com/dKfl8rCXIY
Vishal Mega Mart is getting free marketing on the internet and their socials are just posting outfits as usual.They need to kick out their marketing manager pic.twitter.com/E1i0TMmIQh
Who is Ram Chandra Agarwal? The owner of Vishal Mega Mart
Born into a middle-class family with no access to prestigious degrees or financial backup, Agarwal's journey began in the garment trade. He supplied clothing to local shops and built his network from the ground up. With an eye for opportunity and unmatched street wisdom, he introduced India's first 'value retail' chain in 2001, Vishal Mega Mart. The idea was simple yet revolutionary: provide quality essentials at affordable prices, especially targeting tier-2 and tier-3 cities.
Vishal Mega Mart owner https://t.co/8eGnyzd1Dp
About the success of Vishal Mega Mart
The stores grew fast. By the late 2000s, there were over 170 locations across India. Vishal Mega Mart became a household name, a beacon for budget-conscious shoppers looking for clothing and groceries under one roof.
However, the dream faltered. Financial mismanagement and ballooning debts hit the business hard during 2008-09, eventually forcing Agarwal to declare bankruptcy. In 2011, the original chain was sold to TPG and Shriram Group. Most thought this was the end of Agarwal's retail journey.
But Agarwal was far from done. Learning from his earlier missteps, he launched V2 Retail Limited, a leaner, smarter, and sharper version of his original vision. It focused again on the masses but with tighter control and better financial discipline. As of May 2025, V2 Retail boasts a market capitalisation of ₹6,530 crore.
Vishal Mega Mart meme
As Vishal Mega Mart enjoys a second life as the internet's favourite meme subject, its origin story deserves the spotlight too. A retail mogul turned meme kingpin, albeit unintentionally, Ram Chandra Agarwal's tale is one of grit, fall, and comeback.
He may not be posting memes himself, but Agarwal has built a brand that India cannot stop talking (or laughing) about.
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Time of India
a day ago
- Time of India
Health-focused food brands clock revenue gains on back of quick commerce, wider reach
HighlightsHealth-focused brands in India see rapid growth with rising incomes. Investment in health-centric snacks surged to $65 million in H1 2025. Quick commerce fuels demand for healthier snack options across cities. Rising consumer awareness in India, higher disposable incomes and expansion of quick commerce are driving growth for health-focused food brands such as Farmley, Yoga Bar, The Whole Truth Foods and SuperYou, multiple founders and investors told momentum has helped several players improve financial performance and attract investments, as healthier snack options gain popularity across urban and smaller 'healthy snacking' market is estimated to be worth about $4 billion and is projected to grow at a pace 3.5 times faster than that of traditional packaged snacks, according to estimates by investors. In FY25, Farmley, backed by DSG Consumer Partners, reported a 60 per cent jump in operating revenue from the previous year to Rs 370 crore. It was Rs 170 crore in FY23. The company became Ebitda profitable in FY25, cofounder Abhishek Agarwal told ET. The Whole Truth, backed by Peak XV Partners, is learnt to have ended FY25 with revenue of around Rs 200 crore, up by over 200 per cent from FY24, when it had registered an 80 per cent increase from the previous year, according to regulatory filings sourced from business intelligence platform Tofler. The company is operating at an annualised revenue run rate (ARR) of Rs 250–300 crore, a person aware of the financials said. SuperYou, launched in November 2024 and cofounded by actor Ranveer Singh, is growing at 25–30 per cent month-on-month and is operating at an ARR of around Rs 80 crore. Rising VC interest This year, investor interest in health-focused food brands has increased. The segment received about $65 million in funding in the first half of 2025, compared with $15 million in all of 2024 and about $20 million in 2023, according to data from Tracxn. In May, Farmley raised $40 million in a round led by global consumer-focused investment firm L Catterton, with participation from DSG Consumer Partners. In February, The Whole Truth secured $15 million in a funding round led by Belgian investment fund Sofina. Salad Days, another emerging player, raised $3.5 million in its maiden institutional round, led by V3 Ventures and Client Associates Alternate Fund (CAAF). Agarwal of Farmley said nearly 40 per cent of the company's overall business now comes from quick commerce platforms. 'The segment is really heating up across price ranges and categories. Consumers are actively seeking good options in the healthy segment that deliver on taste and nutrition,' he said. Growth in quick commerce channels and increasing disposable incomes, he said, are prompting more consumers to experiment with better-for-you snacks. 'How we tap into demand from tier-III cities will define how we scale offline distribution,' Agarwal said. According to data from Unicommerce, online orders for healthy staples and snacks in FY25 increased by 60 per cent from the previous year, with tier-III cities showing a 90 per cent jump. Mass brands gain Executives said investors are favouring companies that balance affordability with health-focused positioning. 'When you're Ebitda profitable, targeting a larger TAM and offering a health-plus product at Rs 30–40, you tend to attract significantly more investor interest,' said Suhasini Sampath, cofounder of Yoga Bar, which is operating at an ARR of Rs 300–400 crore. 'By contrast, premium brands with niche audiences and high valuations are facing more scrutiny.' Peak XV's principal Abhishek Mohan said quick commerce has transformed how consumers discover and access food brands. 'Impulse categories like snacks are ideally suited to the format, and healthy brands that deliver on convenience are seeing a strong lift,' he said. Peak XV has backed The Whole Truth and Mumbai-based The Health Factory, which makes high-protein breads. The growing preference for clean-label and additive-free foods is no longer limited to the metros and tier-II cities. Fireside Ventures vice president Ankita Balotia said the key challenges now lie in improving access, affordability and taste. 'Consumers today are far more conscious about what they and their families consume. But price sensitivity and taste parity with mainstream snacks are still important,' she said. Among larger incumbents, Marico-backed True Elements' revenue in FY24 grew by 33 per cent from the previous year to Rs 76 crore, while Tata Consumer's Soulfull business posted a 48 per cent increase to Rs 95 crore.
Time of India
a day ago
- Time of India
Health-focused food brands clock revenue gains on back of quick commerce, wider reach
Rising consumer awareness in India, higher disposable incomes and expansion of quick commerce are driving growth for health-focused food brands such as Farmley , Yoga Bar , The Whole Truth Foods and SuperYou, multiple founders and investors told ET. This momentum has helped several players improve financial performance and attract investments, as healthier snack options gain popularity across urban and smaller markets. India's 'healthy snacking' market is estimated to be worth about $4 billion and is projected to grow at a pace 3.5 times faster than that of traditional packaged snacks, according to estimates by investors. In FY25, Farmley, backed by DSG Consumer Partners, reported a 60 per cent jump in operating revenue from the previous year to Rs 370 crore. It was Rs 170 crore in FY23. The company became Ebitda profitable in FY25, cofounder Abhishek Agarwal told ET. The Whole Truth, backed by Peak XV Partners, is learnt to have ended FY25 with revenue of around Rs 200 crore, up by over 200 per cent from FY24, when it had registered an 80 per cent increase from the previous year, according to regulatory filings sourced from business intelligence platform Tofler. The company is operating at an annualised revenue run rate (ARR) of Rs 250–300 crore, a person aware of the financials said. SuperYou, launched in November 2024 and cofounded by actor Ranveer Singh , is growing at 25–30 per cent month-on-month and is operating at an ARR of around Rs 80 crore. Rising VC interest This year, investor interest in health-focused food brands has increased. The segment received about $65 million in funding in the first half of 2025, compared with $15 million in all of 2024 and about $20 million in 2023, according to data from Tracxn. In May, Farmley raised $40 million in a round led by global consumer-focused investment firm L Catterton, with participation from DSG Consumer Partners. In February, The Whole Truth secured $15 million in a funding round led by Belgian investment fund Sofina. Salad Days, another emerging player, raised $3.5 million in its maiden institutional round, led by V3 Ventures and Client Associates Alternate Fund (CAAF). Agarwal of Farmley said nearly 40 per cent of the company's overall business now comes from quick commerce platforms. 'The segment is really heating up across price ranges and categories. Consumers are actively seeking good options in the healthy segment that deliver on taste and nutrition,' he said. Growth in quick commerce channels and increasing disposable incomes, he said, are prompting more consumers to experiment with better-for-you snacks. 'How we tap into demand from tier-III cities will define how we scale offline distribution,' Agarwal said. According to data from Unicommerce, online orders for healthy staples and snacks in FY25 increased by 60 per cent from the previous year, with tier-III cities showing a 90 per cent jump. Mass brands gain Executives said investors are favouring companies that balance affordability with health-focused positioning. 'When you're Ebitda profitable, targeting a larger TAM and offering a health-plus product at Rs 30–40, you tend to attract significantly more investor interest,' said Suhasini Sampath, cofounder of Yoga Bar, which is operating at an ARR of Rs 300–400 crore. 'By contrast, premium brands with niche audiences and high valuations are facing more scrutiny.' Peak XV's principal Abhishek Mohan said quick commerce has transformed how consumers discover and access food brands. 'Impulse categories like snacks are ideally suited to the format, and healthy brands that deliver on convenience are seeing a strong lift,' he said. Peak XV has backed The Whole Truth and Mumbai-based The Health Factory, which makes high-protein breads. The growing preference for clean-label and additive-free foods is no longer limited to the metros and tier-II cities. Fireside Ventures vice president Ankita Balotia said the key challenges now lie in improving access, affordability and taste. 'Consumers today are far more conscious about what they and their families consume. But price sensitivity and taste parity with mainstream snacks are still important,' she said. Among larger incumbents, Marico-backed True Elements' revenue in FY24 grew by 33 per cent from the previous year to Rs 76 crore, while Tata Consumer's Soulfull business posted a 48 per cent increase to Rs 95 crore.
Economic Times
a day ago
- Economic Times
Health-focused food brands clock revenue gains on back of quick commerce, wider reach
Rising consumer awareness in India, higher disposable incomes and expansion of quick commerce are driving growth for health-focused food brands such as Farmley, Yoga Bar, The Whole Truth Foods and SuperYou, multiple founders and investors told momentum has helped several players improve financial performance and attract investments, as healthier snack options gain popularity across urban and smaller 'healthy snacking' market is estimated to be worth about $4 billion and is projected to grow at a pace 3.5 times faster than that of traditional packaged snacks, according to estimates by FY25, Farmley, backed by DSG Consumer Partners, reported a 60% jump in operating revenue from the previous year to Rs 370 crore. It was Rs 170 crore in FY23. The company became Ebitda profitable in FY25, cofounder Abhishek Agarwal told Whole Truth, backed by Peak XV Partners, is learnt to have ended FY25 with revenue of around Rs 200 crore, up by over 200% from FY24, when it had registered an 80% increase from the previous year, according to regulatory filings sourced from business intelligence platform Tofler. The company is operating at an annualised revenue run rate (ARR) of Rs 250–300 crore, a person aware of the financials said. SuperYou, launched in November 2024 and cofounded by actor Ranveer Singh, is growing at 25–30% month-on-month and is operating at an ARR of around Rs 80 crore. Rising VC interest This year, investor interest in health-focused food brands has increased. The segment received about $65 million in funding in the first half of 2025, compared with $15 million in all of 2024 and about $20 million in 2023, according to data from May, Farmley raised $40 million in a round led by global consumer-focused investment firm L Catterton, with participation from DSG Consumer Partners. In February, The Whole Truth secured $15 million in a funding round led by Belgian investment fund Sofina. Salad Days, another emerging player, raised $3.5 million in its maiden institutional round, led by V3 Ventures and Client Associates Alternate Fund (CAAF). Agarwal of Farmley said nearly 40% of the company's overall business now comes from quick commerce platforms. 'The segment is really heating up across price ranges and categories. Consumers are actively seeking good options in the healthy segment that deliver on taste and nutrition,' he in quick commerce channels and increasing disposable incomes, he said, are prompting more consumers to experiment with better-for-you snacks. 'How we tap into demand from tier-III cities will define how we scale offline distribution,' Agarwal to data from Unicommerce, online orders for healthy staples and snacks in FY25 increased by 60% from the previous year, with tier-III cities showing a 90% jump. Mass brands gain Executives said investors are favouring companies that balance affordability with health-focused positioning. 'When you're Ebitda profitable, targeting a larger TAM and offering a health-plus product at Rs 30–40, you tend to attract significantly more investor interest,' said Suhasini Sampath, cofounder of Yoga Bar, which is operating at an ARR of Rs 300–400 crore. 'By contrast, premium brands with niche audiences and high valuations are facing more scrutiny.'Peak XV's principal Abhishek Mohan said quick commerce has transformed how consumers discover and access food brands. 'Impulse categories like snacks are ideally suited to the format, and healthy brands that deliver on convenience are seeing a strong lift,' he said. Peak XV has backed The Whole Truth and Mumbai-based The Health Factory, which makes high-protein growing preference for clean-label and additive-free foods is no longer limited to the metros and tier-II Ventures vice president Ankita Balotia said the key challenges now lie in improving access, affordability and taste.'Consumers today are far more conscious about what they and their families consume. But price sensitivity and taste parity with mainstream snacks are still important,' she larger incumbents, Marico-backed True Elements' revenue in FY24 grew by 33% from the previous year to Rs 76 crore, while Tata Consumer's Soulfull business posted a 48% increase to Rs 95 crore.
