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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Detailed Product Categorization
- Manyavar's data-driven approach extends to details like collar type, button type, embroidery, and fabric.
- They categorize each product in 30-40 ways to understand regional preferences and reduce deadstock.
Store Location Strategy
- Manyavar chooses store locations scientifically using tools to analyze footfall and target audience presence.
- They prioritize high-visibility properties in wedding markets and areas with their target demographic.
Childhood at Work
- Vedant Modi grew up immersed in the family business, going to the office after school and even creating email IDs at a young age.
- His father incentivized his involvement by linking rewards to store performance.