Manyavar brand owner Vedant Fashions plans to double retail floor space

The company aims to add over 100 stores next year alone; overall goal is to have 2 mn sq feet over next few years, form 1.1 mn sq ft currently

Vedant Fashions, which owns brands like Manyavar, Mohey and Mebaz, plans to double retail floor space to two million square feet in the next few years.

“We are at 1.1 million square feet and in the next few years we are targeting two million square feet,” said Arif Raza, chief, retail business development & projects, Vedant Fashions.

Majority of the company’s EBOs (exclusive brand outlets) are owned and operated by franchisees. The company’s draft red herring prospectus filed with the Securities and Exchange Board of India (Sebi) for an initial public offering (IPO) mentions that as of June 30, 2021,