Manyavar's Wedding Wardrobe Dominance!

Ravi Modi grew up in his father’s small 140 sq ft store in Kolkata’s AC Market.

After school, he’d spend hours selling shirts, pants, and jeans. By 22, he was running the store himself.

He noticed a gap in the market for Indian ethnic wear and started manufacturing kurta-pajama sets.

A pivotal moment came when a ₹20,000 decision clashed with his father’s vision.

Determined to prove himself, Ravi borrowed ₹10,000 from his mother and started his own business with just 100 kurta-pajama sets.

That was the start of Manyavar.

Fast forward to today, Manyavar is India’s largest player in men’s wedding and celebration wear by both revenue and profit.

It’s a market leader in an industry that hosts between 80 lakh to 1 crore weddings every year.

The industry is valued at $130 billion. Middle-class families, on average, spend ₹12 lakh per wedding, making it one of the biggest drivers of India’s economy.

This growth isn’t going to slow down anytime soon.

By 2025, the wedding industry is projected to hit ₹10 trillion, fueled by higher incomes and an increasing focus on grand celebrations.

When Manyavar first entered the market, Indian ethnic wear was mostly unbranded, with tailored clothing dominating the segment.

Over the past decade, this landscape has shifted significantly.

Today, branded ethnic wear makes up around 28-32% of the market.

Manyavar played a big role in driving this shift.

It expanded beyond metro cities and focused on Tier 2 and Tier 3 towns.

Currently, the brand operates 653 exclusive stores across 248 cities in India. Globally, it has 16 outlets across the USA, UAE, UK, and Canada.

In FY 2023-24, Manyavar reported revenues of ₹13,675 million and a net profit margin of 30%.

Profit after tax stood at ₹4,142 million, while the company’s market capitalisation reached ₹32,821 crore.

Its retail network spans 1.67 million sq ft in India and 1.7 million sq ft globally.

The brand’s success also reflects changing trends in Indian weddings.

More people are moving from tailored clothing to ready-to-wear ethnic fashion.

Manyavar has positioned itself as a one-stop destination for men, women, and children, offering products across a wide range of price points.

Despite its dominance, Manyavar faces tough competition.

Fabindia has over 357 stores across India and international markets. Sabyasachi rules the luxury segment, while Raymond produces 10 million garments annually.

However, Manyavar’s focus on affordability, variety, and an integrated online-offline presence keeps it ahead.

Manyavar’s journey from a small shop in Kolkata to becoming a market leader reflects sharp business acumen and a deep understanding of consumer needs.

Weddings in India are only getting grander, and the spending is only going to climb higher.

As this industry continues to expand, Manyavar is poised to remain a leader, defining style and tradition for years to come.