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History of Vedant Fashions Limited

Incorporated in 2002, Vedant Fashions Limited is engaged in the business of manufacturing and trading of textile, leather, and other apparel products. The company is into both wholesale and retail trading. The company began its operations with a capital of ₹10,000. In 1999, they conceptualised the idea of Manyavar, a men's celebration wear brand. Between 2007 and 2008, the first Exclusive Business Outlet (EBO) of Manyavar opened in Bhubaneswar. This was the first outlet that was opened outside Kolkata. By 2010, the company had 100 stores in India. In two years, i.e., in 2012, Vedant Fashions Limited had 200 stores in the country. In 2016, the company launched its first EBO in the USA and in the same year, it launched a women's wear celebration label, Mohey. In 2018, the company acquired another premium brand, Mebaz, the one-stop destination for families for celebration wear. Mebaz is a well-established brand in South India. In 2019, Vedant Fashions Limited launched Twamev, a premium men’s wear brand and in the same year, they opened their 600th store in Mysore. Vedant Fashions Limited went public in February 2022 and was listed on the stock exchanges in India. As of March 2023, the company has more than 630 stores in India spread across 245 cities and towns. They also have their brand stores located overseas in regions, including the USA, the UK, the UAE and Canada. They have got popular Bollywood celebrities as the face of their brand.

Business Segments of Vedant Fashions Limited 

The brands offered by the company are as follows:

• Manyavar: This is a flagship brand of Vedant Fashions Limited that provides mid-premium priced celebration wear clothing for men and kids. The products include kurta, indo-western, jackets, accessories, etc.
• Mebaz: This brand caters to men, women and children and offers mid-premium to premium-priced celebration wear clothing. Mebaz has a strong presence in Telangana and Andhra Pradesh regions.

• Mohey: This brand from the company serves women, where the products offered are lehenga, sarees, gowns and accessories. The price range of these products is mid-premium.

• Manthan: This brand focuses on mid-market weddings and the products are value-priced. They offer only men’s celebration wear.

• Twamev: This is a men’s brand that offers premium priced celebration wear. This brand was established to bridge the gap between Manyavar and luxury boutique brands.

As of March 31, 2023, the one subsidiary of Vedant Fashions Limited is as follows:

• Manyavar Creations Private Limited: This is a wholly-owned subsidiary of the company involved in the business of trading branded fashion apparel and accessories.

Key Personalities of Vedant Fashions Limited

Ravi Modi, Chairman and Managing Director Ravi Modi is the Chairman and Managing Director of Vedant Fashions Limited. He has about 20 years of experience in the garment industry. Ravi Modi supervises the design and marketing operations of the company and is also involved in the implementation of business strategies along with the senior management of the company. He has been associated with the company since its inception.