Written By: Yukta Palekar

Vedant Fashions Ltd Franchise

• Company Overview: dyed in the wool in 2002 in Kolkata, Vedant Fashions Ltd. put into practice in Indian wedding and salute to wear. Its dreadnought identifying mark, Manyavar, discipline the men's Indian and salute to wear bazaar.
• Brand Portfolio and Global Reach: In addition to Manyavar, Vedant Fashions has expanded its portfolio with brands such as Mohey, Twamev, Mebaz, and Manthan. The company’s global presence includes markets in the USA, Canada, the UK, and the UAE, making Indian ethnic wear accessible worldwide.
• Commitment to Cultural Connection and Market Growth: Vedant Fashions is dedicated to enhancing cultural ties and driving the popularity of Indian celebration wear. The company’s strategy focuses on fostering long-term business growth while staying rooted in Indian traditions.
• Corporate Social Responsibility (CSR) Vision: Vedant Fashions' CSR vision accentuate quality, welfare, defensible development, and acquiescence with corporate criterion. The company actively supports less-privileged communities, working towards inclusive growth and development.
• Fusion of Tradition and Modernity: Vedant Fashions merges traditional Indian elements with contemporary trends in its product offerings. The company showcases the richness of Indian ethnic garments, with a strong emphasis on craftsmanship and artistic finesse.

Manyavar's Vivaham Collection Launch: Embracing Southern Heritage with Panchakacham and Veshti

• Launch of Vivaham Collection: Manyavar, India’s leading men's wedding and occasion wear brand, has introduced its new Vivaham Collection featuring traditional Panchakacham and Veshti attire. This launch celebrates Manyavar's commitment to South Indian heritage, adding to its distinguished collection.
• #TaiyaarHokarAiye Campaign Film: To commemorate the launch, Manyavar released a captivating campaign film under the banner of #TaiyaarHokarAiye, specifically crafted for the South Indian audience. The film stars brand ambassador Ram Charan in Panchakacham as the groom, alongside Sobhita Dhulipala, portraying a joyous wedding couple.
• Portrayal of South Indian Wedding Tradition: The expression “Taiyaar Hoke Aaiye” gains a especial meaning as the groom (Ram Charan) arrives deceased to his wedding, commandment the bride to ask his preparedness. His heartwarming response reflects South Indian cultural elegance and showcases the Panchakacham as a symbol of celebration and tradition.
• Endorsement by Vedant Fashions Limited: Vedant Modi, Chief Revenue Officer of Vedant Fashions Limited, expressed excitement, highlighting this collection’s strategic aim to deepen Manyavar's presence in the vibrant South Indian market. Partnering with Ram Charan, an iconic figure in the South, reinforces Manyavar’s dedication to embracing regional diversity and cultural inclusivity.
• Sophisticated Craftsmanship and Design: Manyavar’s Vivaham Collection combines sophisticated embroidery, expert craftsmanship, and elegant designs to offer a stylish makeover for grooms on their special day. This collection enhances Manyavar’s reputation for premium wedding and occasion wear, ideal for grooms looking to elevate their style.

Vedant Fashions (Manyavar) Franchise - Key Highlights - FranchiseBAZAR's Overview

Brand Overview

Vedant Fashions Franchise is a most significant Indian brand in the identify Indian wedding and celebration wear offer for sale. Moreover, oversees under the identifying mark "Manyavar," which accounts for thereabout 80% of the company's earnings. Offers a wide range of attire and accessories designed by experienced designers. Holds a dominant position in an otherwise unorganized market through strong vendor and artisan relationships.

Key Acquisitions and Retail Footprint

Acquired "Mebaz" in FY 2018, a from one region to another brand provide food for to the entire family. buy and sell character there range 1.2 million square paws as of September 30, 2021. Customer sales dealing out: The dealing out is 44.76% from Tier I cities. 38.64% from Tier II cities. 13% from Tier III cities.

Expansion Plans

By FY 2025, aims to: amplify to 1.5 million square feet of Manyavar sales spaciousness. Add 500,000 square feet of Mohey (women’s wedding wear) retail space. Open 100 exclusive stores, including 250 flagship stores and 50 global stores in 30 cities across India and abroad.

Indian Wedding and Celebration Wear Market

Roughly 9.5 to 10 million weddings appear each year in India. Branded segment of the market is projected to grow by 18-20% between FY 2020 and FY 2025, fueled by demand for consistent quality, attractive designs, uniform pricing, and enhanced customer experience.

Product Portfolio

many and various range of price points to cater to large number of customer segments. evenness aspirational identify with moral principles for money.

Asset-Light Business Model

Operates primarily through Exclusive Brand Outlets (EBOs) on a franchise basis. FY 2021 customer sales distribution: Over 90% through EBOs. 6% via Multi Brand Outlets and shop-in-shops. 1% through Large Format Stores. 2% via online channels.

Marketing and Brand Identity

Strong brand identity built through targeted advertising across digital and social media, billboards, cinemas, television, and live events. Engages with customers through an omni-channel network that integrates online and offline platforms.

Operational Strengths

Technology-driven infrastructure and established systems and processes support the business model. Maintains long-term vendor relationships. Despite revenue challenges during FY 2021 due to the pandemic, the operating margin remained strong at around 43% over the past three fiscal years.

Vedant Fashions Franchise: Commitment to Indian Pride, Sustainability, and Inclusive Growth

Mission and Brand Philosophy

• Instilling Pride in Indian Attire: Vedant Fashions aims to foster pride in wearing Indian clothing across all genders and age groups. Promotes Indian culture and ethnic wear, enhancing happiness and a connection to one's roots.
• Transparency and Ethical Practices: Ensures transparency through fair and ethical business operations. Focuses on efficiency in all aspects of its operations to maintain high standards.

Inclusive Growth and Stakeholder Engagement

• Fostering Inclusive Growth: Committed to engaging all stakeholders within the vibrant fashion ecosystem. Promotes an inclusive environment that supports diverse groups and communities.
• Stakeholder Involvement: Actively involves stakeholders in decision-making processes to ensure mutual growth and success.

Innovation and Efficiency

• Continuous Innovation: Strives to stay ahead in fashion trends by continuously innovating its product offerings. Enhances operational efficiency to deliver high-quality products and services.
• Positive Impact: Aims to make a positive difference for people and the planet through innovative practices.

Sustainability and Environmental Responsibility

• Commitment to Sustainability: Recognizes the responsibility to conserve the environment and contribute value to communities. Integrates sustainability into its core mission and business strategies.
• Sustainable Practices: Implements eco-friendly practices in production, supply chain, and overall operations. Focuses on reducing the environmental footprint and promoting sustainable fashion.

Corporate Social Responsibility (CSR) and ESG Initiatives

• CSR Vision and Implementation: Aligns CSR initiatives with the company's purpose and vision to support long-term commitments. Focuses on empowering communities and enhancing the quality of life for marginalized groups.
• ESG Supervision and Execution: Business operations and Environmental, Social, and Governance (ESG) initiatives are overseen by the Board. Executed by the senior leadership team to ensure effective implementation and accountability.

Future Focus and Long-Term Commitment

• Building a Sustainable Future: Dedicated to creating a sustainable future for all stakeholders through responsible business practices. Continuously works towards fulfilling its vision by balancing growth with sustainability.
• Long-Term Vision: Committed to delivering value to customers and stakeholders while maintaining environmental and social responsibilities.

Insights into India's Wedding Clothing Industry: CMAI Survey Findings

• Sales Performance During May-June 2023: Wedding clothing manufacturers in India reported average to weak sales during May-June due to an economic slowdown, according to a survey by the Clothing Manufacturing Association of India (CMAI). 77% of the 110 manufacturers surveyed indicated average to poor sales. Over 60% attributed weak sales to the general economic slowdown, while 14% cited high prices, and 13% felt fewer auspicious dates were a factor.
• Market Slowdown and Inflation Impact: The industry is experiencing a significant slowdown due to inflationary conditions. The first quarter of the current financial year is anticipated to be disappointing for the wedding clothing sector. 83% of respondents give an account of no ballooning side by side to the wedding season in 2022, with 40% commonsensical a sales drop of 10-25% contrast to the previous add flavouring to.
• Shifts in Consumer Demand: Economically priced products performed better than higher-end varieties. Lighter embroideries and pastel colors were more popular, indicating a shift toward simpler and more affordable designs.
• Industry Growth and Challenges: The apparel industry in India has seen consistent growth of 8-10% per annum. After a revival in 2022 post-pandemic, the industry grew by an estimated 15-20% in FY 22-23, though this growth was driven primarily by price increases due to higher raw material and production costs.
• Changing Fashion Trends Among Youth: Growing exposure to western culture and easy access to social media are influencing dressing patterns and fashion choices among younger consumers. This trend is leading to a gradual shift from traditional clothing to western attire among Indian youth, impacting demand in the traditional wedding clothing segment.

Indian Apparel Retailers' Outlook on the Upcoming Wedding Season

• Optimism for Wedding Season Sales: Apparel retailers in India are optimistic about the upcoming wedding season, expecting a significant boost in spending. Estimated spending of Rs 4.74 lakh crore is projected for gold jewelry, clothing, and other consumer goods and services during this period.
• Consumer Sentiment and Regional Expectations: Consumer sentiment remains cautious, with uncertainty especially noted in metro cities. A survey of 166 apparel manufacturers found that nearly 80% expect stronger performance in tier 2 and tier 3 cities compared to metro areas.
• Expectations for a Grand Wedding Season: About 67% of surveyed manufacturers anticipate a “big fat Indian wedding” season post-Diwali, forecasting higher sales and spending during this festive period.

FREQUENTLY ASKED QUESTION

What is the business model of Vedant fashions franchise?

Vedant Fashions follows an asset-light business strategy, which allows a substantial percentage of manufacturing to be outsourced to external manufacturers, including cutting, embroidery, sewing, and finishing.

What brands are owned by Vedant fashions?

Vedant Fashions Franchise Limited, an India-based firm, manufactures, trades, and sells readymade ethnic apparel for men, women, and children under the labels Manyavar, Mohey, Mebaz, Twamev, and Manthan.

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