The retail chain was co-founded by Jay Prakash Shukla and Ravinder Singh.

[2] JP Shukla CEO and co founder of family mart is also known to be very fond of poetry and is a fan of T. S. Eliot's work[11] It is engaged in the business of selling fashion apparel, lifestyle products and general merchandise through stores.

[12] In 2022, a Mumbai-based ethnic apparel manufacturer Suumaya Industries bought a minority stake in its parent company Nysaa Retail.

[2][5][7][13][14] In May 2019, company got its second round funding as external debt of amount 20 crore by a consortium led by APAC Financial Service.

[15][16] In 2022 the company raised INR 50 crore as a part of Series B round of funding.