Meet man, who worked as a salesman at 13, borrowed Rs 10000 from mother to build Rs 32000 crore company, Virat Kohli is his…

With a vision to create a brand that celebrates Indian culture and traditions, he borrowed Rs. 10000 from his mother and embarked on a journey that would change the landscape of the Indian fashion industry.

The wedding season is in full swing across the nation, and traditional attire remains an integral part of Indian weddings. When it comes to wedding wear, Manyavar is a name that instantly comes to mind. This renowned brand is the brainchild of Ravi Modi, who established a thriving empire in the traditional Indian fashion industry through his company, Vedant Fashions. Established in 2002 in Kolkata, Vedant Fashions is the parent company of well-known brands like Manyavar, Mohey, Manthan, Mebaz, and Twamev. Under Modi’s visionary leadership, the company achieved remarkable growth, highlighted by a successful IPO in 2022. This milestone not only enhanced the brand’s stature but also positioned Modi among India’s wealthiest individuals.

Starting at the age of 13

Ravi Modi’s entrepreneurial journey began in the most humble way. At just 13, he started working as a salesperson in his father’s clothing store in Kolkata. As a teenager in the mid-1990s, Ravi Modi immersed himself in the family clothing store, gaining valuable experience in sales and retail operations. The store primarily sold modern men’s clothing like jeans, T-shirts, trousers, and shorts, but lacked traditional Indian attire. Despite Ravi’s persistent suggestions to include men’s kurtas and pajamas in the inventory, his father was reluctant to make the change.

At 19, while his father was away on an annual pilgrimage, Ravi seized the opportunity to test his idea. He sourced 100 sets of men’s kurta-pajamas and managed to sell 80 within a week, uncovering a significant demand for ethnic wear. By 22, he had taken charge of the store, introducing Indian ethnic wear and embarking on his first venture into manufacturing.

With a vision to create a brand that celebrates Indian culture and traditions, Ravi Modi founded Vedant Fashions. Armed with a meager sum of Rs 10,000 borrowed from his mother, he embarked on a journey that would change the landscape of the Indian fashion industry.

His vision gave rise to ‘Manyavar,’ now a household name for wedding and festive attire. Manyavar is renowned for its exquisite kurtas, sherwanis, jackets, lehengas, and sarees. The brand’s popularity has soared even further, after endorsements from Bollywood stars like Virat Kohli, Anushka Sharma, Ranveer Singh, Alia Bhatt, and Kartik Aaryan.

Ranked 64th among India’s richest

Today, Vedant Fashions operates 662 stores across 248 cities in India, along with 16 international outlets. In 2015, he also founded Mohey, celebration wear for women. In 2017, he acquired one of southern India’s biggest fashion brands Mebaz, and has recently launched a premium label Twamev.

The company is currently valued at Rs. 32,000 crore. As of April 2023, he ranks 64th among India’s richest individuals and holds the 1,238th position on Forbes’ World Billionaires List.

In 2022, Ravi Modi made his debut on the Forbes World’s Billionaires List with a net worth of USD 2.5 billion. As of February 2023, Ravi Modi had an estimated net worth of USD 3.1 billion. As of July, 2024, Ravi Modi’s net worth was reported at USD 2.8 billion (over Rs 23,000 crore).