Ethnic wear accounted for about 32% of the overall apparel retail market in India as of fiscal 2020. Women\u2019s ethnic wear was the largest segment, followed by menswear in the second place representing approximately10% of the total ethnic wear market.<\/p>\n\n\n\n
A recent study has shown that the estimated value of the ethnic apparel retail market was \u20b91.8 trillion in fiscal 2020. It contracted sharply by 38-40% in fiscal 2021 owing to the pandemic. But the ethnic apparel industry is expected to grow at a combined annual rate of14-15% and reach \u20b92.35-2.40 trillion by fiscal 2025.<\/p>\n\n\n\n
Ethnic wear company Vedant Fashions Ltd, popularly known as Manyavar, has filed a draft red herring prospectus with the Securities and Exchange Board of India to raise funds via an initial public offering. The issue comprises a pure offer for sale of up to 36.36 million shares by existing promoters and shareholders.<\/p>\n\n\n\n
Vedant Fashions is the largest company in the men\u2019s wedding and celebration wear segment in the country. Brand Manyavar<\/em> is a category leader with a pan-India presence. The company\u2019s other brands include Twamev<\/em>, Manthan<\/em>, Mohey<\/em>, and Mebaz<\/em>.<\/p>\n\n\n\n The Kolkata-based company has a retail footprint of 1.1 million square feet, covering 525 exclusive brand outlets including 55 shop-in-shop. It has a presence in 207 cities and towns in India and operates 12 exclusive brand outlets in the US, Canada, and the UAE as of June 2021. The firm aims to double its national footprint over the next few years.<\/p>\n\n\n\n In fiscal 2021, the company\u2019s revenue from operations was at \u20b95.6 billion, against \u20b99.15 billion a year ago. Net profit for the period stood at \u20b91.32 billion, versus \u20b92.36 billion last year.<\/p>\n\n\n\n The primary risk to the business is that demand for the company\u2019s wedding and celebration wear is dependent on the volume and frequency at which weddings, festivals, and other celebrations are organized. Also, the business is vulnerable to seasonal variations, which may cause fluctuations in revenues.<\/p>\n\n\n\n Regulations imposed by the government during the pandemic, including restrictions on the conduct of large-scale weddings and celebrations, curbs on travel and business operations, and curfews, affected the demand for Vedant\u2019s products even as store traffic decreased sharply. Therefore, quarterly operating results and cash flows for the financial year may not be comparable.<\/p>\n","protected":false},"excerpt":{"rendered":" Ethnic wear accounted for about 32% of the overall apparel retail market in India as of fiscal 2020. Women\u2019s ethnic wear was the largest segment, followed by menswear in the second place representing approximately10% of the total ethnic wear market. A recent study has shown that the estimated value of the ethnic apparel retail market […]<\/p>\n","protected":false},"author":83,"featured_media":124093,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[5748,12,10444],"tags":[8155,145,8687],"class_list":["post-124938","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ipo","category-other-industries","category-others","tag-accessories","tag-clothing","tag-fashion"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2021\/07\/iStock-649278704.jpg","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":142658,"url":"https:\/\/alphastreet.com\/india\/vedant-fashions-q3fy23-net-profit-rises-by-18-per-cent\/","url_meta":{"origin":124938,"position":0},"title":"Vedant Fashions Q3FY23 net profit rises by 18 per cent","author":"Chirag Gupta","date":"February 23, 2023","format":false,"excerpt":"Vedant Fashions, which owns the ethnic wear brand Manyavar, has recorded a 17.6 percent rise in consolidated net profit at Rs 150.35 crore in the third quarter (Q3) ended December 31 of the current fiscal 2022-23 as against the profit of Rs 127.80 crore in the same period of the\u2026","rel":"","context":"In "Earnings"","block_context":{"text":"Earnings","link":"https:\/\/alphastreet.com\/india\/category\/earnings\/"},"img":{"alt_text":"earnings preview","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2019\/04\/Earnings-preview-1.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2019\/04\/Earnings-preview-1.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2019\/04\/Earnings-preview-1.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2019\/04\/Earnings-preview-1.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2019\/04\/Earnings-preview-1.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":124759,"url":"https:\/\/alphastreet.com\/india\/ipo-alert-womens-wear-brand-gocolors-files-papers-for-a-public-issue\/","url_meta":{"origin":124938,"position":1},"title":"IPO Alert: Women’s wear brand GoColors files papers for a public issue","author":"Nishadkishore","date":"August 26, 2021","format":false,"excerpt":"The retail market in India was valued at \u20b959.7 trillion in fiscal 2020 and is expected to grow at a CAGR of 6.23% to reach \u20b980.7 trillion by fiscal 2025. The apparel and accessories industry accounted for 7.9% of retail in 2020. Moreover, the woman\u2019s apparel segment increased from 19%\u2026","rel":"","context":"In "IPO"","block_context":{"text":"IPO","link":"https:\/\/alphastreet.com\/india\/category\/ipo\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/07\/iStock-649278704.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/07\/iStock-649278704.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/07\/iStock-649278704.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/07\/iStock-649278704.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/07\/iStock-649278704.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":128159,"url":"https:\/\/alphastreet.com\/india\/ipo-alert-fabindia-limited-files-for-initial-public-offering\/","url_meta":{"origin":124938,"position":2},"title":"IPO Alert: FabIndia Limited files for initial public offering","author":"Nishad","date":"March 8, 2022","format":false,"excerpt":"The apparel industry in India is estimated to have grown at a compound annual rate of 10.6% over the past five years and reached \u20b95,561 billion in fiscal 2020. Menswear accounted for 41% of the total apparel market, followed by women\u2019s wear at 37%. Kidswear accounted for the remaining 22%.\u2026","rel":"","context":"In "IPO"","block_context":{"text":"IPO","link":"https:\/\/alphastreet.com\/india\/category\/ipo\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/07\/iStock-649278704.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/07\/iStock-649278704.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/07\/iStock-649278704.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/07\/iStock-649278704.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/07\/iStock-649278704.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":160703,"url":"https:\/\/alphastreet.com\/india\/vedant-fashions-ltd-q4fy24-6-rise-in-profits\/","url_meta":{"origin":124938,"position":3},"title":"Vedant Fashions Ltd Q4FY24; 6% rise in Profits","author":"Chirag Gupta","date":"April 30, 2024","format":false,"excerpt":"Vedant Fashions Limited caters to the Indian celebration wear market with a diverse portfolio of brands. 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Financial\u2026","rel":"","context":"In "AlphaGraphs"","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2024\/04\/image-86.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2024\/04\/image-86.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2024\/04\/image-86.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2024\/04\/image-86.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2024\/04\/image-86.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2024\/04\/image-86.png?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":144539,"url":"https:\/\/alphastreet.com\/india\/vedant-fashions-ltd-q4fy23-results-out-revenue-soars-by-16\/","url_meta":{"origin":124938,"position":4},"title":"Vedant Fashions Ltd Q4FY23 results out, Revenue soars by 16%","author":"Chirag Gupta","date":"April 28, 2023","format":false,"excerpt":"Vedant Fashions Limited caters to the Indian celebration wear market with a diverse portfolio of brands. The company offers a one-stop destination with a wide spectrum of product offerings for every celebratory occasion to its customers and the largest men's Indian wedding and celebration wear segment. Vedant Fashions Ltd reported\u2026","rel":"","context":"In "Earnings"","block_context":{"text":"Earnings","link":"https:\/\/alphastreet.com\/india\/category\/earnings\/"},"img":{"alt_text":"earnings preview","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2019\/04\/Earnings-preview-1.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2019\/04\/Earnings-preview-1.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2019\/04\/Earnings-preview-1.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2019\/04\/Earnings-preview-1.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2019\/04\/Earnings-preview-1.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":167838,"url":"https:\/\/alphastreet.com\/india\/vedant-fashions-ltd-q3fy25-8-rise-in-revenue\/","url_meta":{"origin":124938,"position":5},"title":"Vedant Fashions Ltd Q3FY25; 8% rise in Revenue","author":"Chirag Gupta","date":"April 9, 2025","format":false,"excerpt":"Vedant Fashions Limited caters to the Indian celebration wear market with a diverse portfolio of brands. The company offers its customers a one-stop destination for every celebratory occasion and the largest men's Indian wedding and celebration wear by revenue. VFL commands a dominant position in conventionally unorganized market segment. 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