Vendant fashion’s division of ethnic wear, Manyavar, is planning to make a strong network of EBOs and online retailing, in order to reach larger section of population in India. The brand has been witnessing a good growth light ethnic wear moves beyond marriages and festivals.
The plan is to launch a women’s wear line next year called ‘Manya’. It will consist of occasion wear like ghagras, saris and salwar suits.
Ever since entering the ethnic wear space in 2002, the company has opened 270 EBOs. “We prefer high streets to malls as this ensures profitability. We aim to have 600 EBOs by 2016, covering one million sq. ft. We have two store formats: the first is around 800 to 1,200 sq. ft. and second is our flagship format spread over 3,000 sq. ft. We have 30 flagship stores across India. Flagships are one-stop destinations so these will have a wider product range,” explains Ravi Modi, MD, Vedant Fashion, makers of the brand Manyavar.
The company also has more than 20 franchise partners operating more than five stores each; and more than 10 franchise partners operating more than 10 stores each. “We will open pure franchise models in Tier II, III and IV cities. MBOs can’t help you grow beyond a point. EBOs are a better bet,” he opines.
The company will also start its own online business this September, since it believes that the online business will evolve in the next decade.