Vedant Fashions is the owner of Manyavar brand. Manyavar is the market leader in the branded wedding and festive wear market. This is quite a lucrative market segment in India. Manyavar’s net profit margin in 2021-22 financial year was around 29%. Manyavar has built a strong competency in manufacturing of these wedding and celebratory wear. It is not easy to imitate this competency for potential competitors. This makes this stock one with strong fundamentals in the medium and long term.
Manyavar has five brands under its umbrella. These brands are Manyavar, Twamev, Mohey, Mebaz and Manthan. Competition for Manyavar is currently not strong because most of its competitors do not exclusively focus on wedding and celebratory wear. For instance, Fab India is a competitor of Vedant. But Fab India is not exclusively focussed on wedding wear and celebratory wear. It sells an entire range of clothing from semi-formals to celebratory wear. The company’s business model also benefits from the low labor costs in India when it comes to apparel manufacturing.
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