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Meet man who started with Rs 10000, now runs Rs 33,374 crore market cap company, his net worth is...
Ravi Modi started his adventure with Vedant Fashions with just ₹10,000 which he borrowed from his mother and gave Indian weddings a classy touch.
Updated : Dec 01, 2023, 05:45 AM IST | Edited by : Maitry Kothari
 "Meet man who started with Rs 10,000, now runs Rs 33,374 crore market cap company, his net worth is... Ravi Modi")
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One of the top ethnic wear lifestyle businesses in the nation is owned by the media-averse business billionaire Ravi Modi. Vedant Fashions, the firm that owns well-known brands including "Manyavar," "Mohey," "Manthan," "Mebaz," and "Twamev," was founded by Modi. After leading his company to a profitable initial public offering (IPO) in 2022, he became one of India's wealthiest individuals last year.
Modi began working as a salesperson in his father's clothing store when he was 13. After gaining firsthand experience, he eventually assumed control of the company. In 2002, Ravi Modi founded Vedant Fashions—named after his only son—in Kolkata to manufacture traditional Indian clothing.
He started his adventure with Vedant Fashions with just ₹10,000 which he borrowed from his mother. He began producing Indian clothing and entered marketplaces in other Indian states, laying the groundwork for Manyavar. Modi's commercial presence was further enlarged by his strategic choices, which included opening exclusive brand locations and selling to large format stores.
Popular Indian wedding-wear brand Manyavar by Vedant is now best known for its men's kurtas, sherwanis, and jackets, as well as its women's lehengas, sarees, and dresses in the market.
The Kolkata company currently has 662 stores across 248 cities in India and 16 international stores.
While his company was reaching great heights, Modi fulfilled his desire to buy a high-end Mercedes vehicle since his legacy business had placed him in a favourable position. But a fatal focus made him realize that it would be wiser to use the profits to expand even more.
Modi's achievements are measured not only by quantity but also by influence. His net worth increased 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 in the 64th position of India's richest people with a net worth of $3.5 billion and the market cap of Vedant Fashions is Rs 33,274 crore.
