Understanding the Business: MANYAVAR

Name: Understanding the Business: MANYAVAR
Uploaded: 2022-05-24T10:47:18.000+00:00
Description: In this video, Siddhant teaches you about understanding business: MANYAVAR. We will walk you through the basics of how the MANYAVAR platform works, explaining in simple terms what it is and how it can help your business.

In this video, Siddhant teaches you about understanding business: MANYAVAR. We will walk you through the basics of how the MANYAVAR platform works, explaining in simple terms what it is and how it can help your business.

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By Siddhant Kaushik Co-founder @ Tutorate India

Understanding the Business: MANYAVAR

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By Siddhant Kaushik Co-founder @ Tutorate India

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Some Brands enter so quietly into our lifestyle that we don’t even realize it. Call it Organic growth, or a consumer’s pull towards those brands, some companies manage to pull it off! Manyavar is one such brand. Hi, I am <speaker name> and in today’s video we are going to talk about Manyavar founder Ravi Modi, then 22, who used to work at his family’s garments store in Kolkata’s AC Market. He’d graduated from St. Xavier’s College, and realized that there were no players in the ethnic men’s fashion space in the country. “We are the only brand in the country that does not have an EOSS (end of season sale). This is our USP,” says Modi. Manyavar instead relies on data analytics to manage inventory, including unique merchandise ownership of stock, automatic stock replenishment at stores, and even inter-store stock transfer depending on demand. The company also keeps its costs in check by running operations out of its home base in Kolkata, where it has a network of reasonably-priced craftsmen who dish out delicately embroidered clothes for the world to buy. It all began in a 1000 square feet office space with Rs.10,000 as capital. Manyavar was conceptualized in 1999, since then Manyavar has expanded its reach to 200+ cities in India, U.A.E, and U.S.A. Today, Manyavar has become an ethnic wear behemoth — The brand has 450 stores spread across 170 locations in India, Bangladesh, UAE, Nepal, and the US. It has 100 flagship stores—along the lines of an expansive 16,000 sq ft showroom in Mumbai’s Lower Parel—and 12 international stores. What’s really helped Manyavar stand out from the competition is its Marketing! Manyavar had had Virat Kohli as a brand ambassador since 2015; it brought Anushka Sharma along for a viral campaign in late 2017. When Virat and Anushka got married in a breathlessly-watched ceremony, Manyavar managed to position its wedding apparel business in a way no conventional marketing campaign possibly could. This is how Manyavar marked its unique dent in the fashion industry and changed its own destiny. I hope you enjoyed watching this video, so meet me in the next video to understand the business model of Nike! See you there, bye:)

Understanding the Business: MANYAVAR

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