Ravi Modi’s journey from a small family business to creating one of India’s biggest ethnic wear brands, Manyavar, is a remarkable tale of perseverance and vision. Manyavar is the flagship brand of Vedant Fashions, which has a revenue of over $3.5 billion today. This article will dive into the untold story of how Ravi Modi built Vedant Fashions and Manyavar.
Modi’s family had been in the textile business for generations, but it wasn’t until 1999 that he decided to start his own business. He began with a small store in Kolkata, selling women’s wear. However, his real break came when he shifted his focus to men’s ethnic wear. He noticed a gap in the market for stylish ethnic wear for men, and he was determined to fill that gap.
Modi’s first venture into men’s ethnic wear was with the brand Mebaz, which he launched in Hyderabad. Although the brand could have done better than he had hoped, it gave him the experience he needed to launch Manyavar. Manyavar was established in 2002, and it was an instant hit. The brand’s focus on creating traditional yet stylish ethnic wear for men struck a chord with consumers, and the brand quickly became popular across India.
Modi’s vision was to make Manyavar a one-stop-shop for men’s ethnic wear. He wanted to create a brand that offered everything from kurtas and sherwanis to Indo-western wear and accessories. He invested heavily in building a solid supply chain and distribution network to achieve this. He also focused on creating a brand that was affordable yet aspirational.One of the critical reasons for Manyavar’s success was its ability to tap into India’s wedding market. India has a huge wedding industry, and Modi realized that there was a huge demand for stylish ethnic wear for grooms. Manyavar’s range of sherwanis and other wedding wear quickly became popular among grooms across India. The brand’s catchy advertising campaigns featuring Bollywood stars such as Amitabh Bachchan and Virat Kohli also helped to attract customers.
However, Manyavar’s success was not without its challenges. One of the brand’s most significant challenges was the need for more skilled labor in the textile industry. Modi realized that he needed to invest in creating skilled labor to create a world-class brand. He started Manyavar’s training institute to train young people in textile design and production. The institute called the Vedant Fashion Institute, has trained over 3,000 students to date.
Another challenge Modi faced was the rise of e-commerce. Manyavar had initially relied on its brick-and-mortar stores to attract customers, but the brand had to adapt as more people started shopping online. Modi invested heavily in creating Manyavar’s e-commerce platform, which has helped the brand reach customers in even the most remote parts of India.
Despite these challenges, Manyavar continued to grow, and today it is one of India’s most successful ethnic wear brands. In 2016, Vedant Fashions acquired the ethnic wear brand, Mohey, to further expand its product offerings. The brand also expanded internationally, with stores in the UAE, Bangladesh, Nepal, and the USA.
Modi’s success with Vedant Fashions and Manyavar has not gone unnoticed. He has been recognized as one of India’s most successful entrepreneurs and has received several awards for his contributions to the textile industry. He has also been featured in Forbes India’s list of billionaires.
n conclusion, Ravi Modi’s story is a testament to the power of vision and perseverance. From a small store in Kolkata to a $3.5 billion behemoth, Modi’s journey is a remarkable tale of how
One man’s determination and hard work can turn a small business into a global enterprise. Through his innovative approach and unwavering commitment to quality, Ravi Modi transformed Vedant Fashions into a leading player in the Indian ethnic wear market. His ability to adapt to changing consumer trends and create unique customer experiences has helped him stay ahead of the competition. His focus on creating a culture of excellence and empowering his employees has allowed him to build a loyal and dedicated team that shares his vision for success. As Modi continues to expand the Manyavar brand and explore new opportunities in the global market, his story serves as an inspiration to entrepreneurs around the world.