an obsession with data, and efficiency, something Modi spends a considerable amount of time on. “Anything and everything we do, we want to bring efficiency,” he says. “We have one of the highest productivities in retail. We haven’t sold a single garment at discount. Even then, the dead stock in Manyavar is less than 3 percent. We make 30 percent PAT (profit after tax). We don’t make that by charging more to the consumer. That’s an outcome of efficiency. We keep pricing reasonable and despite that, we have the highest margin. Efficiency is a key pillar in our entire organisation.”
Above quote is from the latest Forbes article… This makes it clear that Manyavar has a sheer pricing power. Wedding fashion is a category where people likes the best products from the best brand. People don’t shop for affordability for wedding like they do for grocery shopping in a DMart. They already offer the best quality and I believe they will still try to improve on that.
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