Company aims to expand its reach with 1000 exclusive store including 250 flagship & 50 global stores at 300 cities across India and abroad.
COMPANY PROFILE :
Our products include men’s ethnic and celebration wear items such as Indo-western, sherwanis, kurtas, jackets and accessories such as jutti, safa, mala, and women’s ethnic and celebration wear items such as lehengas, sarees, stitched suits, gowns and kurtis.
Under the umbrella of Vedant Fashions Limited (formerly known as Vedant Fashions Pvt. Ltd.) and paving the path for a happier family, the brand introduced Mohey, Indian wedding and celebration wear for women, in 2015 and acquired one of the biggest fashion brands in southern India, Mebaz, in 2018, a one-stop heritage brand catering to the entire family, with an established presence in the states of Andhra Pradesh and Telangana.
Timeless and iconic attires have cemented Manyavar’s reputation across the world with a commanding retail presence of 600+ stores in over 200 cities and in 3 countries with 11 international stores in U.A.E & U.S.A.
We believe we have developed a strong brand identity through effective brand advertising with distinct targeted marketing campaigns through a variety of media such as digital and social media, billboards, multiplex cinemas, television, and live events. For such marketing campaigns, our brand ambassadors have included leading individuals from the sporting and film industries.
To share, celebrate and evolve the Manyavar movement. A reflection of Manyavar Ravi Modi’s grit, a global vision and a nurturing spirit, the creative spark of Manya Shilpi Modi, our Chief Visualizer of merchandise and design, together with sales, production and operation groups. Together we are driven by a collective mission: to be an authority in Celebration Wear.
Manyavar envisions leading the category towards a global perspective, beyond cultural and ethnic sensibilities. This means new sections, new products and new concepts for the world citizen.
Creating, enhancing, nurturing, inspiring and ornamenting Respect.
It all began in a 1000 square feet office space with Rs.10,000 as capital. Manyavar was conceptualized in 1999, since then Manyavar has expanded its reach to 200+ cities in India, U.A.E, U.S.A
2007-08 saw the launch of an Exclusive Business Outlet format as Manyavar opens its first EBO outlet outside Kolkata, in Bhubaneshwar.
2010 marked the inauguration of the 100th store in Santa Cruz, Mumbai.
2011 was a highlight with the establishment of Manas Foundation, a non-profit, charitable organization dedicated to support heart surgeries in children.
In the same year, we crossed borders with the opening of our first international store in Dubai, followed by Bangladesh.
2012 Hit the 200 stores mark. India’s largest EBO was inaugurated in Karol Bagh, New Delhi. Manyavar collaborates with Indian Premier Leaugue to partner Kolkata Knight Riders.
2013 we extended our reach to more than 100 cities. The 300th store opened in Quest Mall, Kolkata. Our association with IPL grew stronger with sponsoring Kolkata Knight Riders, Delhi Daredevils, and Sunrisers Hyderabad.
2014 started on a high with the opening of our 333rd store – the grandest Manyavar store in Mumbai. We partnered Indian Super League as Associate Sponsors. Our film advertisements aired across India making us a national brand.
2015 marked the opening of our 400th store in Hazrathanj, Lucknow
2016 will go down in history with the launch of our Women’s Celebration Wear label – Mohey. Launch of EBO in USA
2017 The addition of the brand Mebaz, one stop destination for family celebration wear retail chain across men’s, women’s and kid’s under one roof, accelerating the presence of the company in Southern part of India
2018 We opened our 500th store at Nagpur, Dharampet.
2019 Bollywood actors like Kartik Aryan, Ranveer Singh, and Amitabh Bachchan became the new faces of the brand
2019 Bollywood actress- Alia Bhatt became the brand ambassador of Mohey
2019 Launched 600th store in Mysore.
2019 Launch of our premium men’s wear brand- Twamev
5 countries, 160+ cities, 450+ stores and two new brands in 8 years.
It began as a dream, and the journey continues.
- 2021-Employer Branding Award for “Best Employer Branding Award” hosted by World HRD Congress and Stars Group
- 2021-Retail Award for the “Most Admired Retailer of the year- Marketing and Advertising campaign” granted by Mapic India
- 2020-ET Bengal Corporate Award for “Excellence in Business Performance-Turnover between INR 300 crore and 1,000 crore” granted by Association of Corporate Advisers & Executives, Kolkata and the Economic Times
- 2020-Global Award for Retail Excellence for “Retail Marketing Campaign of the Year #TaiyaarHokarAaiye” granted by ET Now
- 2020-Recognised as India’s Retail Champion (Winner) in Specialty Retail by Bhartiya City Centre
- 2020-Images Excellence Award for “Men’s Indian wear” granted by Images Fashion Awards
- 2019-Global Award for Retail Excellence for the “Retail Marketing Campaign of the Year” granted by ET Now
- 2019- Images Award for “Most Admired Fashion Brand of the year: Men’s Indian wear” granted by Images Fashion Awards
- 2019- Times Business Award for the “Best Men’s Ethnic Wear Brand (East)” granted by the Times Group
- 2019- Dare to Dream Award for “Company of the Year-Retail” granted by Zee Business
- 2019- Indian Retail Award for “Ethnic Fashion Retailer of the Year” granted by Shop X
- 2019 – Transforming India Retail Award for “Transformational Contribution to Indian Apparel and Retail Industry” granted by the Ministry of Textiles and the Clothing Manufacturers Association of India
- 2018 – Images Award for “Most Admired Retailer of the Year Marketing & Promotions Campaign” granted by Images Retail Awards
- 2017 – Images Award for “Most Admired Fashion Brand of the year: Men’s Indian Wear” granted by Images Fashion Awards
- 2016 – Ravi Modi recognized as “Entrepreneur of the Year in Trading Business – Retailer” at the Entrepreneur Awards organized by ET Now and Franchise India
- 2015 – Ravi Modi awarded the “Bravery and Entrepreneur Award” and Certificate of Honor as the “Top Entrepreneur of India” by the Parwaz Media Group
- 2015 – Ravi Modi recognized as “Emerging Leader” at the CMA Management Excellence Awards
- 2015 – ET Bengal Corporate Award for the “Highest Job Creator- Above INR 300 crore to INR 1,000 crore” granted by Association of Corporate Advisers & Executives, Kolkata and the Economic Times
- 2015 – Recognized as the “National Retailer of the Year” at the 4th Annual Indian Retail & Indian e-Retail Awards
- 2015 – Images Award for “Excellence in Supply Chain Management & Fulfillment” granted by Images Retail Tech Awards
- 2014 – Award for Retail Excellence for being the “Pioneer in Ethnic Retail Business” granted by ABP News
- 2014 – ET Bengal Corporate Award for the “Fastest Growing Company-Maximum Turnover of INR 300 crore” granted by Association of Corporate Advisers & Executives, Kolkata and the Economic Times
- 2013 – Ravi Modi awarded for “Retail Excellence” at the Asia Retail Congress organized by ET Now
- 2012 – Ravi Modi awarded the “Young Retailer of the Year” award at the Asia Retail Congress
- 2012 – Ravi Modi awarded the “Jewels of Rajasthan” award presented by Maneesh Media Agency
- 2008-2010 – Recognized as “Iconic Men’s Ethnic Brand” by Central Icons
- 2004-2008 – Recognized as “Best Men’s Ethnic Wear Brand” by Central Icons.
Company intends to raise 3149 Crs through the IPO which will be an Offer for sale by promoters.
website : https://www.vedantfashions.com/
Brands Under vedant Fashions :
“Manyavar”, “Mohey”, “Mebaz”.
Company has delivered good profit growth of 23.5% CAGR over last 5 years.
Debtor days have improved from 182 to 143 days.
ROCE : Consistently Increasing above 33 % YOY.
Its products include men’s ethnic and celebration wear items such as Indo-western, sherwanis, kurtas, jackets, and accessories such as jutti, safa, mala, and women’s ethnic and celebration wear items such as lehengas, sarees, stitched suits, gowns, and Kurtis.
Omni Channel Network : Company operates its business through franchise-owned exclusive brand outlets (EBOs), with the remaining by multi-brand outlets (MBOs), large format stores (LFSs), and online platforms, including its website.
Sales through stores – 90% of FY21 sales was through its exclusive brand outlets (EBOs). It operates through 546 EBOs which are operated on the basis of lease or franchisee, 145 large format stores (LFS), and 825 multi-brand outlets (MBOs). Almost 300 of its EBOs are franchisees in India and 11 EBOs overseas across the United States, Canada, and the UAE.
Online network : It operates through its own website, mobile application, and leading e-commerce platforms. Sales to customers from its online channel rose from Rs. 83m for FY19 to Rs187m in FY21. Also, EBOs can place orders for any products, not in stock and requested by customers; as a result, the company can service customers’ orders at short notice at the EBOs of their choice.
Advertisement: In FY20 company spent 8% of its sales towards advertisement and is one of the sponsors of Kolkata Knight Riders, Delhi Daredevils, and Sunrisers Hyderabad and several Bollywood stars including Kartik Aryan, Ranveer Singh, and Amitabh Bachchan became the new faces of the brand.
The company has built a strong brand identity through effective advertising with targeted marketing campaigns through a variety of formats such as digital and social media, billboards, multiplexes, etc.
Manyavar : (80% of revenues) is their flagship brand, is in the mid-premium Indian wedding and celebration-wear price range with a comprehensive product range.
Twamev : is their premium brand in men’s Indian wedding and celebration wear, is priced between Manyavar and other luxury boutique brands.
Manthan : is their value brand offering Indian wedding and celebration wear clothing for men. Following a refreshed launch in 2018, products are sold primarily through MBOs, LFSs, and online platforms. Management expects to cater to the sizable number of mid-market weddings and other celebrations through this brand.
Mohey : is their mid-premium flagship women’s brand, launched in 2015, and is the largest brand (by number of stores in FY20) across India, focusing on women’s Indian wedding and celebration wear. It offers a range of attires (lehengas, sarees, gowns), aiming to establish a leading position as Manyavar in men’s Indian wedding and celebration wear.
Mebaz : is a established one-stop-shop, heritage brand with a strong legacy, acquired in FY18. In FY21, it was strong in Andhra Pradesh and Telangana.
Product Offerings: Its products include men’s ethnic and celebration wear items such as Indo-western, sherwanis, kurtas, jackets, and accessories such as jutti, safa, mala, and women’s ethnic and celebration wear items such as lehengas, sarees, stitched suits, gowns, and Kurtis.
Supply Chain : Large portion of manufacturing process is carried out by third-party manufacturers. However, it retains control of manufacturing by ensuring that at various stages of production, incl. design conceptualization and finalization, fabric procurement, work allocation, quality control, testing, and review of the allocation of job orders are managed by it.
Co. has in-house manufacturing processes (cutting, embroidery, stitching, and finishing). It also has ~0.26m sq. ft. central warehouse at Kolkata that houses all its finished products.
Company Name : Vedant Fashions Limited
Cmp : 1431.00 (on 29.10.2022)
52 Weeks High/low : 1502/790.
Target : 2500-4500 ++
Time Frame : 3 Years to 5 Years
Based on Technical Charts
Source of Data :
https://vedantfashions.com/
https://www.screener.in/
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