136 Case Studies in Business Ethics and Corporate Governance
included 11 Indian fi rms, according to a study conducted by the global consultancy fi rm Boston
Consultancy Group.
In March 1997, Subhiksha Trading opened its fi rst store in Chennai (Thiruvanmiyoor) with an in-
vestment of Rs 4–5 lakhs with a clear idea that it would be a part of a larger system. In the fi rst year,
it opened 10 stores in Chennai. Subhiksha also started selling medicines at a discounted price. By
2000, it had expanded to 50 stores in Chennai. In the next two years, it had around 130 stores across
Tamil Nadu. Until 2004, it focused on consolidation in Tamil Nadu. Subhiksha then looked at every
part of India that was literate and also a signifi cant consumption market. ...