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Investors are betting on the value retail chain’s franchise model to disrupt the retail market in small-town India. By the looks of it, the six-year-old startup seems to have gotten a lot of things right.

The 15-year-old company has bought one brand after another in the hope of growing fast. That plan has fallen flat on its face, but there’s no stopping Wingreens.
Surprisingly strong metrics alongside aggressive expansion mask a lurking balance-sheet risk. Moreover, competition is not going to be kind to the retail giant any time soon.
A little over a decade after it was founded, the company that introduced India to Greek yogurt has pulled off a turnaround. But competition is rising fast and Epigamia can’t afford to simply rest on its laurels.