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Manyavar opening large stores across India

By FashionUnited

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Fashion

Ethnic wear label, Manyavar from Vedant Fashion is expanding its retail presence in metros by opening large stores. The company recently launched its second largest, a 16,000 square foot store in Mumbai after opening the first such store in New Delhi. While Sushil Agarwal, Vice Prseidentof Manyavar

says that retail is slow, he believes the future is bright. “October to January is the peak season for our kind of business. Right now it’s slow all over, except the south. May is a strong month for the south,” he asserts. Apart from introducing premium clothing range, the company also aims to launch women’s ethnic wear in the near future.

Expandin
g retail horizon

Elaborating on the new store launch, Agarwal says, “This is our second largest store in India. Customers in Mumbai prefer different clothes. Their taste is different from Delhi. Mumbai is the most fashionable city in the country. With Bollywood presence, ethnic wear enjoys a bigger share here. So Mumbai required a space like this, where one can experience Indian fashion. Mumbai also receives a large share of foreign visitors, who like to shop for ethnic wear.”

They have 18 stores in Kolkata and other parts of West Bengal. It recently opened a store in Ahmedabad. “In Delhi and Bangalore, we have five flagship stores each. We have 40 stores in Delhi and 12 in Mumbai. By 2016, we plan to open 500 stores. There will be one flagship in every Tier I, II city. Metros will have at least three or four stores,” explains Agarwal. The brand is also present beyond Indian shores, as there are seven stores outside India in Bangladesh and Dubai. The aim is to open more stores abroad.

New offerings

The new flagship in Mumbai has about 7,000 SKUs and the plan is to increase the number to 10,000. The company plans to introduce a premium range with a price tag of Rs 5,00,000 in Mumbai and Delhi markets. “We will broaden the men’s wear range. The focus is largely on ethnics. There is good demand for basic suits as well, so we may add those as well. Two years later, we plan to introduce women’s ethnic,” opines Agarwal.

Agarwal reiterates that the brand is not exactly designer wear as that is a different space with a different target customer. “Their customer base is smaller. Our target is to cater to everyone’s needs. We use fabrics like linen and silk jacquards. There is also a mix of handmade fabrics,” states Agarwal. Manyavar has a 50,000 square foot manufacturing set-up. For the last five years, it has been growing at 50 percent CAGR. “This year too we expect to keep this pace. By 2016, we should have a turnover of Rs 700 crores,” sums up Agarwal.
Manyavar