Latest news with #Mohey
Time of India
17-05-2025
- Business
- Time of India
Sales slump for Manyavar & Mohey's parent Vedant Fashions
Mumbai: Fewer wedding dates, subdued consumer sentiments and increased competition from newer players wiped off nearly $2 billion from Vedant Fashions ' market capitalisation over the past five months. The company behind Manyavar and Mohey said competition in India's ethnic segment is at a level never seen before and is not sustainable with the number of stores trebling over the past two-three years. The biggest ethnic wear brand posted 2% revenue growth last fiscal, while same store sales growth fell 4% in FY25 as well as the quarter ended March. "We have certainly witnessed competition in the last two decades of us operating this brand. Nothing at these levels, for sure. We have not seen these many stores ever opening up, because it has all happened in a very short period, the last two to three years. Earlier as well, when there was competition, there were a few stores here and there, but nothing at this scale," said Vedant Modi, chief revenue officer at Vedant Fashions, at its earnings call. The market for occasion wear was historically serviced more by local shops or made-to-order ones, but over the past decade brands such as Manyavar, Mohanlal and more recently Tasva and Ethnix by Raymond entered the segment. "Typically, what we have noticed is people open up a single store in a city and do decently well. And as they sort of scale up to a state level, to a region level, that's when things start to go south. This industry must understand the hack of understanding consumer preferences and understanding data at a very deep pin code level, because what works in one part of the city does not work in the other part of the city," said Modi. According to management consulting firm Wazir Advisors, the apparel and accessories market in India was estimated at $75 billion in FY23, and the total ethnic wear market represented nearly 30% at $22 billion. Within that, the ethnic menswear market was estimated at $2 billion in FY23, just 10% of the total ethnic wear market, indicating the potential upside. Of the total ethnic wear market, wedding and celebration wear accounts for 58% and men's contribution is 12% of the segment. Hence, wedding and occasion wear dominates the men's ethnic dress collection and is relatively high on branded quotient. Historically, the celebration wear category is the least impacted by slowdowns as Indians like to celebrate weddings, festivals and other occasions as lifetime events. But Vedant Fashions has had a tough year thus far, which it blamed on minimal wedding dates and weak performance, especially in Andhra Pradesh and Telangana, where the company has higher presence compared to peers. "If I give you an example of a city like Raipur, we used to have one exclusive brand outlet which we operate. And maybe another 25, 30 stores would have opened in that market. And if we look at the financial data of all these numbers of stores opening, hardly any of them are at a mark where business is sustainable even in the mid-term. So, certainly there is a lot of macroeconomic pressure which we have seen," Modi added. Analysts said Vedant's fourth quarter performance was underwhelming on revenue delivery despite low base and wedding season tailwinds.
Fashion Network
15-05-2025
- Business
- Fashion Network
Vedant Fashions Ltd Q4 net profit declines 13 percent to Rs 101 crore
Vedant Fashions Ltd, the owner of ethnic wear brand Manyavar reported a 13 percent decline in net profit to Rs 101 crore ($11.9 million) for the fourth quarter ended March 31, as against Rs 116 crore in the year-ago quarter. The company's revenue for the quarter was up marginally by 1 percent to Rs 367 crore, as against Rs 363 crore in the corresponding quarter of the previous fiscal year. On a full-year basis, the company's net profit declined 6 percent to Rs 388 crore on a 1 percent increase in revenue to Rs 1,386.48 crore in FY25 over FY24. 'The company's performance in FY25 was impacted by subdued consumer sentiment and severely impacted Q1 FY25 with extremely low/negligible wedding dates nationally. However, in the nine months period from July to March FY25, retail sales grew by 9.3%, with like-to-like sales growing by 2.9%,' Vedant Fashions said in its investor presentation. 'Despite these challenges, the company successfully maintained strong financial margins and profitability metrics, reflecting resilient business fundamentals,' it added. Vedant Fashions is engaged in manufacturing and retailing of readymade ethnic wear for men, women and kids under the brand names Manyavar, Mohey, Mebaz, Twamev, and Manthan.
Business Standard
06-05-2025
- Business
- Business Standard
Vedant Fashions slides after Q4 PAT fall 13% YoY; recommends final dividend of Rs 8/sh
Vedant Fashions dropped 4.89% to Rs 751.50 after the company reported 12.68% decline in consolidated net profit to Rs 101.10 crore in Q4 FY25 as against Rs 115.79 crore posted in Q4 FY24. However, revenue from operations increased 1.17% to Rs 367.44 crore in the quarter ended 31 March 2025. Profit before tax fell 8.93% to Rs 134.70 crore in Q4 FY25 as against Rs 147.92 crore reported in the corresponding quarter previous year. Total expenses increased 6.45% year on year to Rs 254.79 crore in Q4 FY25. Cost of raw material consumed stood at Rs 45.01 crore (up 19.01% YoY) while finance cost was at Rs 136.23 crore (up 3.06% YoY). On a full-year basis, the companys net profit declined 6.20% to Rs 388.47 crore on a 1.38% increase in revenue to Rs 1,386.48 crore in FY25 over FY24. Meanwhile, the companys board has recommended a final dividend of Rs 8 per equity share for the financial year ended 31st March 2025, subject to the approval of the shareholders at the ensuing Annual General Meeting of the company. Vedant Fashions is primarily engaged in manufacturing, trading and selling readymade ethnic wear for men, women and kids primarily in India under the brand names Manyavar, Mohey, Mebaz, Twamev and Manthan.
Hindustan Times
24-04-2025
- Entertainment
- Hindustan Times
Organza sarees: Timeless classic in 9 yards of elegance; Our top 8 picks to flaunt your Desi vibe
Sarees add an elegant charm to your overall personality. And organza sarees are where elegance meets airiness! Be it a wedding function, a spiritual evening, or for your everyday office wear, organza sarees make the perfect fit for you. These ethereal drapes don't just adorn, they enchant a lightweight, sheer, and graceful look. Painted with florals or kissed with sequins, Organza sarees blend tradition with contemporary charm. So, if organza sarees are on your buying list, you can never go wrong with our list of top 8 picks of organza sarees. Step into timeless elegance with Satya Paul's Blue Organza Silk Saree. Adorned with intricate prints and delicate woven detailing, this saree floats on our body like a dream. This saree is perfect for your friendly brunches, weddings or cultural evenings. Styling Tips: Pair with a sleeveless silver blouse, oxidized jhumkas, and soft curls. Add heels and a silver clutch to complete your chic statement. Indulge in regal charm with Mohey's Hand Embroidered Zardosi Saree in organza, where exquisite craftsmanship meets luxurious fabric. In this saree, the hand-done zardosi work glistens subtly, making it ideal for evening functions or a glam sangeet. This lightweight saree brings together tradition and a modern aesthetic effortlessly. Styling Tips: Style with a velvet blouse, gold choker set, and a sleek bun. Finish with kohl-rimmed eyes and a bold lip for a royal vibe. Grace meets sophistication in the ROYAL COUTURE Organza Saree. Its translucent texture also adds a modern edge while preserving ethnic elegance. Flowing and light, this organza saree brings a sense of poised beauty, be it a daytime celebration or a formal event. Styling Tips: Match with a pastel-toned blouse, minimal pearl jewelry, and a floral hair bun. Add nude heels for a balanced contemporary-traditional look. Get ready to dazzle in the Akhilam Shimmer Organza Saree, where sequin embroidery catches every light. It's the perfect choice when you're in the mood to sparkle, ideal for cocktail parties, festive nights, or wedding receptions. The semi-sheer shimmer organza offers a bold yet graceful look that blends glamour with tradition. Styling Tips: Team with a sequin crop blouse, high ponytail, and metallic stilettos. Go for dramatic eyes and a glossy lip to own the night. Subtlety and softness define the VAIRAGEE Soft Organza Saree. Light, breathable, and elegant, this saree is your go-to for intimate gatherings or daytime poojas. The embroidery also adds a quiet charm that speaks of refined taste and a love for tradition. Styling Tips: Wear with a contrast silk blouse, dainty earrings, and open waves. A natural makeup look with a bindi will bring it all together. Every fold of the SGF11's Pure Organza Soft Silk Handloom Saree tells a story of hand loom artistry and a rich heritage. Soft to the touch and a mesmerizing flow, this saree is both traditional and timeless. This organza saree is ideal for pujas, cultural events, or gifting. Styling Tips: Opt for a classic brocade blouse, temple jewelry, and a braided bun. Add a soft shawl or dupatta for a layered, graceful look. Enhance your ethnic wardrobe with Instrofab's Pure Organza Silk Saree. Designed for the modern woman with a love for traditional textures, this saree combines purity of fabric with artistic finesse. This saree is perfect for festivals or family gatherings and offers an ethereal feel with a sophisticated silhouette that flows like poetry. Styling Tips: Pair with a boat-neck blouse, statement studs, and kitten heels. Add light curls and a dash of peachy makeup for daytime radiance. A true blend of heritage and high fashion, the Glory Sarees Kashmiri Pashmina Organza Silk Saree is as rich in story as in style. The fusion of Pashmina motifs with organza silk lends it a majestic aura. This saree makes a perfect choice for grand festive occasions or formal dinners as it carries grace, warmth, and heritage in every thread. Styling Tips: Wear with a full-sleeved embroidered blouse, antique jewellery, and soft makeup. Finish the look with an embroidered clutch and traditional mojris. Celeb-approved brands! Cool t-shirts for summer under ₹600 from Bewakoof Cotton suits for women: Top 8 brands to get your stylish daily dress code from Black kurtis: Top 8 picks that go from AM to PM in style; Timeless in black Women everyday comfort sandals at 50% off: Heels to flats, ethnic to embellished Organza is more stiff and sheer compared to fabrics like chiffon or georgette. It holds its shape well, giving the saree a voluminous and structured look, ideal for formal and festive occasions. Organza can be made from natural fibers like silk or synthetic fibers such as polyester or nylon. Silk organza is more expensive and delicate, while synthetic organza is more durable and affordable. Organza sarees look best with minimal yet elegant accessories. Pair them with a statement blouse, delicate jewelry, and heels for a graceful appearance. Hairstyles like buns or soft curls complement the look well. Yes, though they add volume due to their structure. Petite or curvier body types can go for organza sarees with smaller prints or minimal embroidery for a balanced silhouette. Organza sarees are usually reserved for festive, wedding, or party occasions due to their elegant appeal. However, simpler designs can work for semi-formal gatherings too. Disclaimer: At Hindustan Times, we help you stay up-to-date with the latest trends and products. Hindustan Times has an affiliate partnership, so we may get a part of the revenue when you make a purchase. We shall not be liable for any claim under applicable laws, including but not limited to the Consumer Protection Act, 2019, with respect to the products. The products listed in this article are in no particular order of priority.
