'Buy' Vedant Fashions, Target Price Rs 1600: ICICI Securities

ICICI Securities Report

We met Vedant Modi, Chief Revenue Officer, Vedant Fashions Ltd. Takeaways:

1. Company plans to reduce weddinglinked seasonality by focusing on festive wear through its recently launched brand ‘Diwas’ and will continue to focus on wedding wear through ‘Manyavar’.

2. Towns with current population of less than 100,000 can have Manyavar exclusive brand outlets with focus on evolving trends in tier II and III towns.

3. It is taking initiatives like having multiple stores in a locality, hiring gig workers to service customers to manage peak capacity.

4. New campaigns are focused on showing the brand as a hero rather than a celebrity.

5. It plans to scale up Mohey EBOs in multiple cities.

6. Negligible dead stock / slowmoving inventory allows it to have ‘no discounting’ which results in better gross margins versus peers.

Maintain 'Buy'.

Click on the attachment to read the full report:

DISCLAIMER

This report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit.

Users have no license to copy, modify, or distribute the content without permission of the Original Owner.