He laid its foundation with just Rs 10,000 which he borrowed from his mother. Thereafter, he began manufacturing Indian clothing and ventured into big markets in various Indian states.
Whenever we think of fancy and heavy sarees and lehengas for Indian weddings then the first thing we will think of is the brand ‘Manyavar’. This is a symbol of true success. The man behind this famous and iconic ethnic wear brand is Ravi Modi.
Vedant Fashions, the company that owns well-known brands including "Manyavar," "Mohey," "Manthan," "Mebaz," and "Twamev," was established by Modi. After spearheading his company to a profitable initial public offering (IPO) in 2022, he became one of India's richest persons last year.
Modi started by working as a salesperson in his father's clothing store at 13. After a few years, he eventually gained control of the company. In 2002, Ravi Modi established Vedant Fashions—named after his son—in Kolkata to create traditional Indian clothing.
He laid its foundation with just Rs 10,000 which he borrowed from his mother. Thereafter, he began manufacturing Indian clothing and ventured into big markets in various Indian states, laying the foundation for Manyavar. Modi's commercial growth was further extended by his targetted strategies, which included opening exclusive brand locations and selling to format stores.
Currently, Manyavar has become an extremely famous and iconic Indian wedding-wear brand, which is popular for its men's kurtas, sherwanis, and jackets, along with women's lehengas, sarees, and dresses with modern designs and patterns. The brand’s popularity is accentuated by endorsements by popular celebrities like Virat Kohli, Anushka Sharma, Ranveer Singh, Alia Bhatt and Kartik Aaryan.
The company has expanded to 662 stores across 248 cities in India and 16 international stores.
Due to the skyrocketing success of his business, Modi's net worth has significantly risen from $2.5 billion to $3 billion by April 2023, placing him at number 1,238 on the Forbes World's Billionaires List of 2022. He is positioned in the 64th position of India's richest people with a net worth of Rs 28,000 crore, as per Forbes. While Vedant Fashions is now valued at Rs 32,000 crore
With an immense market presence and growing innovation, Vedant Fashions and Manyavar are poised for sustained growth and to bring revolution to the Indian fashion industry.
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