Mohey to double store count in India, signs Anushka Sharma as brand ambassador

Vedant Fashions Pvt Ltd plans to build its in house women’s ethnic wear brand Mohey by doubling the store country in the coming year and has signed Bollywood actress Anushka Sharma to endorse the brand in the country.
 
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After the success of men’s ethnic wear brand Manyavar endorsed by Indian cricket team captain & Anushka’s beau Virat Kohli, Vedant Fashions is looking to cash in on the popularity of the star couple to tap the ever growing ethnic womenswear segment in the country.
 
During year ended March 2016, Vedant Fashions had posted a 22 per cent rise in sales at Rs 504 crore with net profit of Rs 90 crore, giving Manyavar the tag of the most profitable Indian brand.
 
The women’s segment currently accounts for an overwhelming 87% of the total ethnic wear market at INR 54,425 crore (USD 10.26 billion). The women’s wear segment alone is expected to grow at a steady rate of 8% over the coming decade, according to a report by consulting firm Technopak.
 
Managing Director, Vedant Fashion, Ravi Modi in a statement said “Manyavar and Mohey have both seen a great response over the last one year. As we target doubling our Mohey store count from 50 to 100 in the coming year, we are proud to announce Anushka Sharma as Mohey’s brand ambassador. She is an iconic figure of the entertainment industry and popularly known amongst the youth for her individuality and being who she is, which perfectly blends with Mohey’s values of celebrating oneself.”
 
Anushka Sharma added, “I am happy to collaborate with an Indian women’s wear brand like Mohey that is young and encourages the idea of celebration. I look forward to being part of the Manyavar family and contributing to Mohey’s journey.”
 
Anushka Sharma will be featuring alongside boyfriend & Manyavar brand ambassador Virat Kohli in a new campaign.
 
Vedant Fashion currently has around 400 Manyavar & 50 Mohey stores across India, USA, Bangladesh, UAE and Nepal. The company is also in talks to acquire Hyderabad-based rival ethnic wear brand Mebaz
 

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