Last Updated:
Ravi Modi founded Manyavar after a disagreement with his father regarding their clothing store in Kolkata.
Manyavar is now among India’s most well-known brands. (Photo Credits: Instagram)
When it comes to wedding outfits and ethnic wear, Manyavar is one of the leading brands in the sector. But few know how Manyavar was established. The story behind the company serves as an inspiration to many budding entrepreneurs. A video going viral on Instagram highlights how the company was started and slowly became a big name in India.
Shankar Bhalla, the host of the podcast shankar_unravelled, explained Manyavar’s rise.
Manyavar: How The Brand Was Founded
The owner of the company, Ravi Modi, was a teenager when he started visiting his father’s retail clothing store in Kolkata. While understanding the ins and outs of the business, he had an idea – Ravi believed that selling kurtas could be a big opportunity for the shop to earn more profits. His father disagreed.
Modi decided to branch out and leave his father’s business. He founded Manyavar with only Rs 10,000. One of his strategies to increase sales was not to open his own store, but to convince chains like Big Bazaar to stock his products. The plan worked. Sales increased, and Modi earned over Rs 4 crore in three years.
How Manyavar Overcame Problems
Soon, Modi realised that companies were not sharing data on changing tastes in attire with him, leaving him with no clarity about what worked and what did not. He then decided to open exclusive Manyavar outlets that collected data by state, city and even pin code. The result? Manyavar became a leading business in the retail sector.
Mod has focused on four key values in his business ꟷ the use of technology, transparency, efficiency, and inclusive growth of all stakeholders. According to Forbes, Ravi Modi started Vedant Fashions, the conglomerate under which Manyavar falls, in 2002 in Kolkata. Named after his son, the company manufactured traditional Indian garments.
The company has over 660 stores in India and 17 international stores in countries like Canada, the UAE and the US. Modi took Vedant Fashions public in 2022, but being media-shy, did not attend the listing ceremony at the National Stock Exchange. In 2023, he sold 10 per cent of his stake to boost the public holding in Vedant Fashions to 25 per cent, as required by the stock market regulator. Modi has a net worth of $2.1 billion. He was listed at the 96th position in the Forbes list of India’s richest in 2024.
A team of writers at News18.com bring you stories on what’s creating the buzz on the Internet while exploring science, cricket, tech, gender, Bollywood, and culture.
A team of writers at News18.com bring you stories on what’s creating the buzz on the Internet while exploring science, cricket, tech, gender, Bollywood, and culture.
Click here to add News18 as your preferred news source on Google, News18’s viral page features trending stories, videos, and memes, covering quirky incidents, social media buzz from india and around the world, Also Download the News18 App to stay updated!
view comments
- Location :
Delhi, India, India
Read More
