Indian Business Podcast How did Manyavar become a 30,000 crore company? : ft. Vedant Modi CRO Vedant fashions
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Nov 25, 2024 In this discussion, Vedant Modi, the Chief Revenue Officer of Vedant Fashions Limited, reveals the secrets behind Manyavar's meteoric rise to a ₹30,000 crore enterprise. He shares how they utilize data to define products and keep deadstock below 3%. The strategy of leasing prime locations versus purchasing is examined, along with innovative training for fashion advisors. Modi also reflects on the challenges faced by family-run businesses scaling up, and the importance of a unique no-discount sales model in a highly competitive market.
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Early Start
- Vedant Modi's father, Ravi Modi, started working at his grandfather's retail store at 13.
- This early experience shaped his understanding of customer preferences and supply chain management.
Data-Driven Profitability
- Manyavar's profitability comes from understanding customer preferences at a pin code level.
- This data-driven approach helps them design and supply the right products, leading to less than 3% deadstock.
Curated Store Experience
- Ganesh cites a personal shopping experience at Manyavar where his fiancee insisted on a specific store.
- This store had a curated selection, leading to a quick and satisfying purchase, demonstrating Manyavar's store-specific inventory strategy.