Manyavar built India’s wedding-wear market. Now it’s losing ground

According to the report by Motilal Oswal, who started reporting on Vedant Fashions, India’s ethnic wear market is growing at a compound annual growth rate of 5.5-6%. ₹1,800 billion in Fiscal Year 2020 ₹2,400 billion in FY25. Within this, branded ethnic wear grew faster at a CAGR of 18-20%, increasing the share of the organized segment from around 11% to almost 19% between FY19 and FY22.