Ravi Modi Success Story: What Made Him Built Vedant Fashions?

If you can afford it, but it – Ravi Modi.

When it comes to men’s or women’s classy ethnic wear, the first name that comes to mind is ‘Manyavar’ – India’s No.1 traditional wear brand. Whether it is a festival, wedding or any other special event, any traditional occasion is incomplete without Indian ethnic wear, especially from the Manyavar brand. With exceptional designs, affordable prices and top-class quality, Manyavar has become a household brand for Indian wear. But have you ever wondered who is behind the success of this brand and what took it to the limelight? Well, the person to do this is none other than Ravi Modi- Visionary Yesterday, Billionaire Today! Ravi Modi success story is no less than an inspiration for young entrepreneurs who have goals in their lives. So why wait? Let’s ponder Ravi Modi’s journey from humble beginning to high-flying success.

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From Where Ravi Modi Success Story Initiated?

Like any other average child, Ravi was also born into a modest business family. His father owned a garments retail shop inside the AC market in Kolkata—one of India’s first air-conditioned markets established some 50 years ago. Modi was a brilliant student who was good at mathematics. However, from a young age, he was exposed to the intricacies of running a business. He got a spark of traditional wear business from his father’s shop. This was an initiation to Ravi Modi success story.

Ravi used to spend after-school and weekends in his father’s shop, where he found a big opportunity. The shop only sold jeans, T-shirts, trousers, and shorts for men, and didn’t offer traditional wear. He asked his father to sell men’s kurtas and pyjamas, but he refused. One day, when his father went on an annual pilgrimage, Ravi got a chance to give his idea a try. He sourced 100 men’s kurta-pyjamas sets and sold 80 by the end of the week. It was just a start to Ravi Modi success story.

Thus began a foray into men’s ethnic Indian wear that has made Modi’s franchise-based apparel company – Vedant Fashions – a leading player in the traditional wear market for men, women and children.

The Birth Of Vedant Fashions

He started the company with just Rs 10,000 in 2002, which he had borrowed from his mother and named after his only son, Vedant. He decided to focus on Indian wear, which had been in his mind since childhood. Later, he understood that there was no particular brand that deals with ethnic wear. After some time, he entered the wedding sector and became a wedding brand in India, which undeniably contributed to Ravi Modi success story.

Manyavar’s, sub-brand Vendant Fashions, the foundation was established when he started producing Indian wedding clothes for everyone and established footholds nationwide. Ravi’s innovative strategies played a crucial role in Manyavar’s growth. He focused on understanding the customers’ needs, which helped him design products that resonated with them. Manyavar’s collection now features a blend of traditional and contemporary designs, which quickly gained popularity. Ravi Modi success story was only the result of his father’s harsh words for him. His father meant that – “initially hurtful, spurred him to seek new horizons”.

Success Mantra Behind The Growth?

The fashion world is competitive. You need innovative ideas and strategies to survive in such a demanding market. Ravi Modi understood this early on and incorporated it into his business. Manyavar’s success was not only due to meeting customers’ demand but also to the innovative strategies behind the brand’s expansion. One Ravi Modi success story mantra was to establish an extensive retail network. He opened exclusive Manyavar stores across India, ensuring customers can access a wide range of products. The brand presence expanded rapidly, and Manyavar became synonymous with high-quality ethnic wear for weddings, festivals, and special occasions. Today Manyavar has around 600 stores in 228 Indian cities and 13 international stores in countries like Canada, the United States of America and the United Arab Emirates. Isn’t it a big achievement for just an ordinary businessman?

Pushing The Boundaries!

Challenges and risks are often known as family members. No businessman can see the achievements without challenges. Ravi Modi success story is no exception. The Indian fashion industry is highly competitive, and when it comes to ethnic wear, people think emotionally. They connect with their outfits and live them throughout the occasion. Modi got this point of view of Indian customers soon and incorporated it into his business.

One of the major hurdles he faced was managing the supply chain and ensuring consistency in quality. For this, he invested in state-of-the-art manufacturing facilities and implemented stringent quality control measures because he knew delivering quality has always been the key to business growth. This commitment to quality earned Manyavar the trust of its customers and helped to build a loyal customer base, which contributed to Ravi Modi success story.

Diverse Venture: Unleashing New Opportunities

Ravi did not stop after Manyavar’s success. As Manyavar’s popularity grew, he realised the potential for expansion and diversification. Under Vedant Fashions, he introduced Mohey in 2015, a brand dedicated to women’s ethnic wear, which immediately became popular among female customers. This strategic diversification helped Vedant Fashions Limited cater to a broader audience and strengthened its market position. Apart from Mohey, another subsidiary that impacted Ravi Modi success story is Mebaz, which entered the fashion industry in 2020.

The Rise Of Ravi Modi: From Vision To Victory!

According to Forbes, Ravi Modi’s net worth is around $2.8 billion. He was 64th in India’s richest person list in 2023 and considered as one of the billionaires in the world, according to 2024 reports. Modi is the Chairman and Managing Director of Vedant Fashions, his wife has a board set, and his son is Chief Marketing Officer. The company sells around 3 million pieces per annum and caters to emerging customers’ demand. Moreover, it has also launched its IPO and currently its shares are valued at ₹1055 per equity share.

Ravi Modi: The Man Behind Fashion Empire

Ravi Modi success story is a remarkable example of how vision, innovation, and perseverance can transform dreams into reality. His journey from humble beginnings to becoming a fashion mogul inspires many. By revolutionising the ethnic wear market with Vedant Fashions, Ravi has not only built a successful business but also contributed to the fashion industry. His journey reminds us that success is within reachable with the right mindset, innovative strategies, and relentless efforts.

Frequently Asked Questions

Why is Manyavar successful?

Besides the quality and best prices, Manyavar’s growth is heavily attributed to strategic marketing and robust advertising.

Is Manyavar profitable?

The net profit of Manyavar or Vedant Fashions was Rs 4,291 million in FY23, 36.3% higher than the Rs 3,149 reported in FY22. The profit is increasing year-on-year, meaning Manyavar is a profitable brand.