A man running a small clothes shop in Calcutta got angry that his son was wasting money unnecessarily in the business and one day he ate hard A small business has become a 30 thousand crore rupees company today the name of the company is manyavar the name of the person who founded it is Ravi Modi when he starts any business he has no background and no investment At least he does not have people to support him personally but all he has is an idea to do business and today the idea is doing a few thousand crores of business. But what is that idea How did a man who deals in clothes in a small market in Calcutta grow to the point where today he has made top celebrities like Amita Bachchan, Virat Kohli, Ramcharan, Ranveer Singh and Alia Bhatt as brand ambassadors for his company and what are the genius marketing strategies implemented by him I am going to tell you today that Ravi Modi’s father had a small clothes shop in Kolkata where he was doing business for the last 20 years but Ravi Modi used to spend most of his time in his father clothes shop since his childhood so Ravi Modi spent most of his life from the age of 13 to the age of 22. He spent time in the clothes shop and he noticed one thing that most of the companies dealing in clothes in the market are selling more shirts, pants and t-shirts because there is a demand for them but no one is selling Indian wear which has the same amount of demand new models like Sherwanis but the point here is that there is a demand. They are doing their best but no one is focusing much on Indian wear
So Ravi Modi noticed this and saw a good opportunity to do business in the market and to implement this he took 20,000 from his father’s shop and bought these Indian designs and started selling them in his fathers shop and they also got a good response from the customers but the problem here is that the shop 20,000 from Ravi Modi but he was selling new models but Ravi Modi did not tell his father so without telling him that his son was taking his own decisions and wasting money. Ravi Modi on hearing that scolding said that he will not step in this shop from tomorrow and left in anger. But a misunderstanding happened here is that how much Ravi Modi has researched the market and how much value his idea has their father did not care that they are wasting money by doing business without telling him. He scolded Ravi Modi but Ravi Modi went out in anger and took ten fingers from his mother and started working on his believed idea that is if all the best friends clothes are sold in the market Ravi Modi sells Indian style clothes. While supplying to multi brand outlets like pantaloons and shopper stop as he thought the Indian wear made by him gets good demand from the customers so now he has to establish a brand name of his own to get recognition in the market for the clothes he is making. But at that time he did not have that much money to undertake the design of brand name and logos with a marketing agency or he followed a simple idea and Ravi Modi established his company and branding.
Like most of us when we do any business, we name it after our children yes he also named his son Vedanta. He started a company named Vedanta Fashions Ltd. So now he needs a branding to represent his company and for that he knows what he is doing. If he didn’t get any respect from his father he made it his life. But the clothes made by Ravi Modi on Manyavar branding are sold in a different format. A common thing that happens in business is that immediately after the supply the companies do not pay them after a few days they pay the money. Money is used and it is called working capital but why am I saying this because at that time Ravi Modi did not have this working capital so if there is a company that gives money immediately but he is not able to run his business so the business strategy he followed for this is that out of the total stock he made 20 % of the stock was sold to a company called Vishal Mega Mart in Kolkata at 10% less than the normal selling price. Because of this even if he gets a loss the company will pay the money immediately so he can use it to run his business without stopping, but let’s see how he wants to make profits. They only sell 20% of the total stock while the remaining 80% of the stock is sold at a good profit. Ravi Modi who started in 2002 The business ran normally for almost six years but in 2018 there was a turning point in his business. In order to make the clothes that he makes even better he asked the companies that supply the product for customer data that is what kind of clothes do the customers mostly buy what is their price and what model are they in business
But none of the companies with these multi-brand outdoor lights agreed to give customers to Ravi Modi So Ravi Modi thinking that there is no profit if he depends on them opened his first brand outlet store in Bhubaneswar, Odisha State Capital, in 2008. This is called Coco Model. It is said that the company was operated by the old company and sold in their showrooms but Ravi Modi followed this model for a few days. They wanted to explain the business they wanted to open many branded stores in Odisha as well as other states, but the problem here was that Ravi Modi himself took care of everything from designing the clothes, manufacturing them, marketing them establishing a showroom for them and selling them to the customers. It is very difficult to expand a business because doing everything by one person increases the financial and mental pressure on him as the business grows so Ravi Modi noticed this and changed the business from the Coco model to the Copo model. You can set up a showroom but Ravi Modi will operate all the business in it, so following this model, many people in India have taken their process but due to this model, the financial pressure on Ravi Modi has reduced but because he is operating all the franchises the mental pressure has not reduced for him. Finally he changed his business from anger model to cofo model to fofo model. From setting up the showroom to selling the clothes, everything is done by the franchisees but Ravi Modi only designs the clothes, markets them and supplies them.
So this business model not only reduces the financial and mental pressure of Ravi Modi but also expands the Manyavar business to India in a very short time. It has opened 600 stores across the world so understand the potential of fofo business model marketing In 2018 Manyavar started as a single store and today it has more than 600 stores which means if it is only because of quality or designs then it is a big mistake. How it happened is that every year more than one crore marriages take place in India. If you think less than one lakh rupees, this wedding shopping or one lakh crore rupees business is done every year. There is not much in the market so Ravi Modi noticed this and wanted to market it as manyavar marriage clothing brand, which means wedding shopping so that we can remember Manyavar so marketing like this will give this company a completely different identity. There the marketing of this money word is like multiplex so due to the increase in marketing, the reach of the brand increases and the income also increases but here manyavar company has followed a cycle process. Marketing spenders, so the money that used to run two-minute ads in multiplexes has skyrocketed to the point where the company is recruiting Bollywood celebrities like Amita Bachchan, Ranveer Singh Aliabhat as car brand ambassadors. But the person who played a key role in the success of Manyavar Company is Virat Kohli. Ravi Modi who till then marketed Money Warante as a marriage shopping brand after recruiting Virat Kohli as their brand ambassador in 2016 it is not only a marriage but a best for any occasion celebrated in our house. It was promoted as a shopping destination and it worked very well
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