Manyavar, the ethnic wear brand for men has launched its third exclusive brand outlet in Chennai. This is also the brand’s 75th exclusive brand outlet (EBO) in India. Strategically located at Nungambakkam High Road, the store would cater to a wide range of customers. Spread over an area of 1,750 sq.ft, the store offers the complete range of men’s ethnic wear including kurtas, sherwanis, shirts and suits.
Apart from the Nungambakkam store the brand also has two more outlets located at Kelly’s and Teynampet. “Nungambakkam is a very prominent location and seeing the market growth in Chennai, we hope a good performance from the store,” says Mohit Tikmany, CEO , Vedant Fashions Pvt Ltd, the parent company of Manyavar.
The launch also marks the brand’s effort to strengthen its position in South India. Apart from three exclusive outlets in Chennai, the brand has eight outlets in Hyderabad and one EBO in Bangalore. The brand is soon going to launch its second outlet at Mantri Square mall in Bangalore. With 13 EBOs in South India, the brand occupies almost 16,000 sq.ft of retail space in South India. “The ethnic wear market in South India has a lot of potential. We still have a long way to go to have a considerable market share. But we intend to go phase by phase. We are looking forward to open more stores in South India but the locations and other parameters have to match our criteria,” informs Tikmany.
Currently, Manyavar already has 75 EBOs across India and plans to have atleast 200 EBOs by the end of FY 2010-2011. Manyavar registered a turnover of Rs.150 crores in the current fiscal year.
— Piasi Sinha
