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Meet man who worked as salesman at 13, borrowed Rs 10000 to build Rs 32000 crore firm, now one of India’s richest with..
Vedant Fashions, the company that owns famous brands including "Manyavar," "Mohey," "Manthan," "Mebaz," and "Twamev," was established by Modi. After spearheading his company to a profitable initial public offering (IPO) in 2022, he became one of India's richest persons last year.
Updated : Sep 09, 2024, 05:35 PM IST
 "Meet man who worked as salesman at 13, borrowed Rs 10000 to build Rs 32000 crore firm, now one of India’s richest with..")
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Indian weddings and ethnic wear are synonymous to each other and the brand that we will remember first after thinking about them is ‘Manyavar’. The man behind this successful and iconic brand is Ravi Modi.
Vedant Fashions, the company that owns famous brands including "Manyavar," "Mohey," "Manthan," "Mebaz," and "Twamev," was established by Modi. After spearheading his company to a profitable initial public offering (IPO) in 2022, he became one of India's richest persons last year.
Modi started by working as a salesperson in his father's clothing store at 13. After a few years, he eventually led the company. In 2002, Ravi Modi started Vedant Fashions in Kolkata to produce traditional Indian clothing.
He started with just Rs 10,000 which he borrowed from his mother. Thereafter, he established manufacturing Indian clothing and entered big cities, laying the foundation for Manyavar.
Currently, Manyavar has become an extremely prestigious Indian wedding-wear brand, which is famous for its men's kurtas, sherwanis, and jackets, and women's lehengas, sarees, and dresses. The company’s popularity was accentuated by endorsements by celebrities like Virat Kohli, Anushka Sharma, Ranveer Singh, Alia Bhatt and Kartik Aaryan.
The company now has 662 stores across 248 cities in India and 16 international stores.
Due to the major growth of his business, Modi's net worth has exponentially risen from $2.5 billion to $3 billion by April 2023, placing him at number 1,238 on the Forbes World's Billionaires List of 2022. He is in the 64th position of India's richest people, with a net worth of Rs 28,000 crore, as per Forbes. While Vedant Fashions is now valued at Rs 32,000 crore
