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In 1997, R. Subramanian, an IIT Madras and IIM Ahmedabad alumnus, opened the first Subhiksha store in Chennai to sell mobile phones and electronics. The business quickly expanded to 19 stores by 1999 and nearly 50 stores in Chennai by 2000. Subhiksha continued its rapid growth, opening 140 stores across 30 towns in Tamil Nadu by 2002-2003 and expanding nationally in 2004. At its peak in 2008, Subhiksha had over 1650 stores across India and was valued at Rs. 2300 crore, but overexpansion and lack of focus on

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