Manyavar sales up 22 per cent

During the year ended March 2016, Manyavar posted a 22 per cent rise in sales. Net profit was Rs 90 crores. Manyavar, which opened in 1999, never offers discounts on its merchandise. It either donates or destroys unsold stock. This is an apparel brand that mainly thrives on Indian cultural celebrations and festivities. Right now the brand has some 400 doors. It sells fusion clothing — a mix of modern and traditional wear — instead of just ethnic, which are reserved for special occasions.

The retailer is also trying to push its clothes as everyday wear instead of just weddings or social functions. Virat Kohli as brand ambassador is expected to appeal to a younger consumer base.

Ethnic wear, still mostly fed by the unorganised segment, has demonstrated steady growth over the past few years. In fact, leading department chain formats such as Shoppers Stop, Lifestyle and Westside are also increasing the width of their private label offerings and offering contemporary styling and designs in the ethnic space.

From local boutiques to established traditional retailers and regional brands, every ethnic wear retailer is vying for a share of the consumer wallet in a market that is governed more by design than brand.