Sales slump for Manyavar & Mohey's parent Vedant Fashions

Vedant Fashions, the company behind Manyavar, faces increased competition. Newer players impact its market value. The ethnic wear segment sees unprecedented store growth. Revenue growth slows, especially in Andhra Pradesh and Telangana. Vedant Fashions highlights challenges in understanding consumer preferences at the pin code level. The company expresses concerns about the sustainability of the current market dynamics.