Thread by @vivekraju93

Manyavar has been an under-discussed success story
It is is the most profitable apparel brand in the country, more than even Zara and Levi's
22% net income on Rs 820 cr in FY19

1/

Positioned themselves as celebration wear, not just ethnic wear allowing them to buck the trend during economic slowdown. Growth numbers prove that.
20% CAGR in last 5 years
600 stores opened in last 10 years across India, US, Canada, UAE

Great insight from the founder
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Initially focussed on only weddings, expanded to other celebrations to fix seasonality issue

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Rest of strategy was just sticking to basics and keeping things simple

Check on expenses - HQ is a modest nondescript building in Dhulagarh (outskirts of Kolkata). Moved to own stores only after rentals crashed after 2008 crisis (sold through multi-brand sotres till then)

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Tight ops - 90% of merch made in-house with just 25 designers on payroll.

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Simple use of data & tech to keep inventory lean & pricing tight - Designs based on consumer insight. <4% stock is slow moving removing need for end of season sale. Zero discount policy, even for employees. Unsold stock is donated/destroyed forcing to keep designs relevant

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Branding done right - Signed up Virat and Anushka signed up just before they tied the knot. Campaign created history and revenue more than doubled since

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Source: “India likes to dress up for weddings and festivals”: why the party never stopped at Manyavar

prime.economictimes.indiatimes.com/news/73076902/…