Ravi Modi had caught the attention of millions when, unsurprisingly, his stance changed 246 to 41 in IIFL Hurun India Rich List 2022. With an extraordinary Ravi Modi’s net worth increased by 376% to Rs.32,400 crore Last year. while, loud Forbes Modis real-time net worth at January 16, 2023 is $3.5 billion.
He is the leader of a globally recognized ethnic clothing brand “manyavar”. He founded Vedant Fashions in 2002, named after his only son. The company was founded in Kolkata, India with the aim of manufacturing traditional Indian clothing. Today, the company is best known for selling women’s sarees, lehengas and dresses, as well as men’s sherwanis, kurtas and jackets for the Indian wedding market.
|Did you know? Ravi Modi is the owner of the famous ethnic clothing brand Manyavar, Founder and CEO of Vedant Fashions. With a turnover of US$85 million, Manyawar has 600 stores in India and 11 stores worldwide. Manyawar’s first international store opened in Dubai in 2011. Unsurprisingly, Ravi Modi’s position in the 2022 IIFL Hurun India Rich List rose from 246 to 41. Manyawar went public with an IPO in February 2022. Ravi Modi fulfilled his dream of buying a He bought a Mercedes car in 2017 that he thought he would buy in 2002. He postponed the plan to buy Mercedes for 15 years and invested the profits in expanding his business.|
Ravi Modi net worth 2023
|Full name||Ravi Modi|
|popular as||Ravi Modi|
|Who is Ravi Modi?||Founder and CEO of Vedant Fashions and owner of ethnic clothing brand Manyavar|
|When was Manyavar opened?||year 2002|
|Ravi Modi net worth||$3.5 billion|
|Real-time net worth of Ravi Modi as of January 16, 2023||$3.5 billion|
What is the Hurun Rich List?
The Hurun Rich List is published annually to highlight the richest people born, living and raised in India. The ultimate goal of the Hurun Rich List is to encourage entrepreneurship through posting and searching.
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It is indeed an inspiration for entrepreneurs to see Ravi Modi’s position rise from 246 to 41 in the 2022 Hurun rich list. Ravi Modi’s net worth saw a whopping 376% increase.
Currently, Ravi Modi’s net worth is $3.5 Billion.
Biography of Ravi Modi
Lifestyle mogul Ravi Modi was born 45 years ago. His hometown is Kolkata, India. He was his parents’ only son and good at mathematics. His father ran a 140 square meter retail store in an AC market in Kolkata.
According to Ravi Modi, his mother threw a party when he got 100 in math in second grade, but didn’t throw a party when he got the same grades in third grade. He said, “I realized that nobody really noticed the same thing.” double success. Then he said if anyone remembers me from my school days, it’s because I was good at math.
He completed his studies in commercial sciences St. Xavier’s College, Calcutta. At the age of 13 he joined his father’s shop as a salesman. His father had a shop that sold everything from shirts and trousers to jeans.
Modi was married to Shilpi at 21 and became a father at 22.
We give you a glimpse of this billionaire who believes in living modestly, destiny and of course wealth goes beyond money.
|Birth Name||Ravi Modi|
|birth date||Born 45 years ago|
|Training||B.Com graduated from St. Xavier’s College, Calcutta|
|Name of Ravi Modi’s wife||Shilpi (she has a seat on the board where her only son Vedant is the company’s marketing director.|
|Name of Ravi Modi’s father||Not available|
|Name of Ravi Modi’s mother||Not available|
|Number of Children||A|
|Profession||Founder and CEO of Vedant Fashions and owner of ethnic clothing brand Manyavar|
|Ravi Modi net worth||$3.5 billion|
Check Manish Malhotra net worth here
Ravi Modi’s career highlights
- Ravi Modi began his career as a salesman in his father’s retail store when he was just 13 years old. The store sold everything from shirts and trousers to jeans.
- He was interested in working in his father’s shop, dealing with buyers his employees didn’t want to deal with. He was soon selling 20 pieces of clothing to a customer who went to the store to buy just one piece of clothing.
- Later, Modi took 10,000 rupees from his mother and started making Indian clothes. The company sold its products to multi-brand stores in West Bengal, Uttar Pradesh, Madhya Pradesh, Bihar and Odisha. This commitment by Modi was the cornerstone of Manyavar.
- After the launch of the manyavar, he began selling his 20% stake in Kolkata-based Vishal Mega Mart to raise enough capital to sustain his business. Modi said that I buy my goods at Vishal Maga Mart with cash. In the first eight months he generated working capital for Vishal Maga Mart.
- In addition, Manyavar’s clothes were also available in Kala Mandir and Kashmir Vastralaya collections in the early days.
What was the turning point in Ravi Modi’s business?
In 2005–2006, Modi began selling his products to Shoppers Stop, Future Group, and Westside to bring his products nationwide exposure. His father advised him not to take out a loan, and he went along. He used to invest most of his money solely in the business.
The very first Manyavar exclusive outlet was established in 2008 and that is when Modi’s real journey begins. Manyavar’s first store was opened in Bhubaneswar and the following year the company opened 12 more stores.
In 2016–2017, the company transitioned all of its stores to the FOFO (Franchise-Owned-Franchise-Operated) model. Virat Kohli was named Manyavar’s brand ambassador in 2016.
Today, the company has more than 600 stores across India, including 11 international stores, and Ravi Modi’s net worth has grown to Rs.32,400 crore.
Who owns Manyavar?
Who is Manyavar’s brand ambassador?
What is Ravi Modi’s net worth in 2023?
Who owns Vedant Fashions?
Ravi Modi is Chairman and CEO of Vedant Fashions.
Post by: Findy
category by: Net Worth