Ravi Modi is the name behind the iconic Indian ethnic wear brand, Manyavar, a true testament to success. He is the founder of Vedant Fashions, the company behind renowned brands like Manyavar, Mohey, Manthan, Mebaz, and Twamev. Modi’s journey began at the age of 13, working as a salesperson in his father’s clothing store. He eventually took the reins of the company, leading it towards a successful initial public offering (IPO) in 2022. This success catapulted him to the ranks of India’s wealthiest individuals.
In 2002, Modi founded Vedant Fashions – named after his son – in Kolkata, with the aim of manufacturing traditional Indian clothing. He started with a modest loan of Rs 10,000 from his mother. From this humble beginning, he began creating Indian clothing, venturing into major markets across numerous Indian states, laying the groundwork for Manyavar. His company’s strategic approach, which included opening exclusive brand locations, helped them gain recognition and achieve success.
Today, Manyavar stands as a renowned and iconic Indian wedding-wear brand, celebrated for its men’s kurtas, sherwanis, and jackets. The brand’s popularity extends to women’s lehengas, sarees, and dresses, known for their trendy designs and patterns. Manyavar’s popularity surged further with endorsements from prominent celebrities such as Virat Kohli, Anushka Sharma, Ranveer Singh, Alia Bhatt, and Kartik Aaryan.
Vedant Fashions has expanded to encompass 662 stores across 248 cities in India and 16 international stores. Modi’s business success has been remarkable, leading to a significant rise in his net worth. From $2.5 billion in 2022, his net worth reached $3 billion by April 2023, placing him at number 1,238 on the Forbes World’s Billionaires List. Forbes also ranks him as the 64th richest person in India with a net worth of Rs 28,000 crore. Vedant Fashions itself is currently valued at Rs 32,000 crore, highlighting the remarkable journey of Ravi Modi and his successful business venture.
