Manyavar: Stitching Success with Ethnic Wear
Having its roots in the fundamentals of Indian tradition, Vedant Fashion Pvt Ltd has successfully built a sizeable business for itself by harnessing a gap in the Indian fashion retail industry—the presence of organized players (beyond high fashion) in the ethnic wear market.
Mr Ravi Modi with the seed capital of Rs 10,000/- started his journey back in 1999 when traditional wedding attires were sold through large format stores. VFPL established itself as a company in 2002 and opened their first exclusive outlet in Bhubaneshwar(2008). Now, Manyavar has its presence in 450+ stores, including 100 flagship stores amongst which a showroom in Lower Parel, Mumbai which is spread across 16000 sqft area.
Their consistent growth lies in understanding the basic pulse of the consumer and proactively adapting to the new trends from ethnic-wear for weddings to festive-wear for festivals like Rakhi, Holi, Diwali, etc and now has sought to popularise Indian wear for everyday use. VFPL has also launched ‘Mohey’, a women’s celebration-wear label, to sell the likes of lehengas and sarees.
One major factor that has rendered an unparalleled efficiency to the entire business flow, from the production unit churning out 3 million pieces per annum to the entire retail and supply chain network, is Technology. Manyavar handles their end-to-end operations, from point of sale to production, planning and analytics solution through Ginesys Retail ERP. As quoted by Mr Modi, “Our efficiency in maintaining strong data analytics helps us in tracking demand with supply. As a result, we never have any dead stock despite never going on sale”
Ginesys Retail Software is proud to be associated with Manyavar from the beginning and we hope that they accomplish their ambitious target of Rs 1000 Cr TN by FY18 and Rs 2000Cr TN by FY21.