- Using marketing strategies, advertising techniques, and star brand ambassadors Manyavar has kept themselves on the top of the ethnic wear industry.
Setting the growth benchmark in a market where several apparel companies have seen a tedious performance for many years, ethnic-wear brand Manyavar appears to be on the verge of becoming India’s most profitable apparel brand. With net earnings of Rs 182 crore, it has outpaced even giants like Zara, H&M, Levi’s, etc. Inditex Trent, which runs Zara stores in India, saw a net profit of Rs 71 crore, while denim-maker Levi’s profit remained flat at Rs 50 crore, and net profits for H&M India stood at Rs 45 crore in FY19.
In addition, Manyavar brought home Rs 820 crore in revenue during FY19, growing in the last five years at a CAGR of 20 percent.
The brand has definitely been successful in terms of advertising. In FY 19 the company was spending Rs 67 crores on ads. After an extended association with the brand’ Virushka’ in 2019, they roped for their big commercial campaign in other big names like Kartik Aaryan, Alia Bhatt, Ranveer Singh, and Amitabh Bachchan. And it’s interesting to note that last year the company clocked sales worth Rs 100 Crore.
Data from the business intelligence platform-Tofler reveals that its rivals H&M India and Levi’s spent Rs 24 crore and Rs 78 crore respectively in ads during FY19. Watching an H&M ad on TV or on a billboard in India is also a rare sight, and the Swedish clothing company has yet to issue a blitzkrieg advertisement in India. Meanwhile, Levi’s, the rising commercial spender among these, launched the fifth edition of their campaign’ I Shape My World’ this year. The music video featured celebrities and influencers including Malini Agarwal, Kubbra Sait, Sandhya Menon, and Neena Gupta; Anushqa Sahaney was sung in the campaign song, and it features verses by rapper Hard Kaur.
Industry-observers credit Manyavar’s recent multiple brand ambassador and spot-on marketing for its improved visibility, thereby creating a top-of-mind recall for the company. “For a homegrown brand like Manyavar to take on event global giants, like H&M, Levi’s and Zara, big credit needs to be attributed to the brand’s marketing. From casting Virat and Anushka to roping in celebrities like Amitabh Bachchan, Alia Bhatt, Ranveer Singh, Manyavar has deeply imprinted its presence as a mass brand in the hearts and minds of people,” opined Independent brand strategist Gaurav Banerjee.
Agreeing with Banerjee’s point, brand expert Kartik Srinivas claimed: “With a celebrity army at their fingertips, the company managed to differentiate the brand from others and steal the limelight.” It was no less a casting coup when the ethnic wear brand Manyavar roped for a wedding theme TVC in one of the most popular real-life couples Virat Kohli and Anushka Sharma. The commercial titled’ Naye Rishte Naye Vaade’ hit a whopping four million views and a mushy meltdown over the internet. “The brand was able to raise the top-of-the-mind recall factor by more than 10x right from the time the company roped in Virushka and brilliantly leveraged them in their advertising,” noted independent.
Less than two months after Manyavar Mohey had them exchange wedding vows for the ad movie, Anushka Sharma and Virat Kohli, in fact, tied the knot in Italy’s real life. While the actors on their big on wear Sabyasachi, Manyavar managed to catch the spotlight. With the collaboration just a few months before the wedding, the film remained fresh in public memory with several people on social media thinking the couple was wearing Manyavar. And with that, Kohli so Sharma fans who can not afford a Sabyasachi took the brand over lakhs.