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Biyani may acquire majority stake in Spykar Lifestyle

Acquisition may cost Rs 100 crore

Tags: retail, retailer, news, Kishore Biyani

May 08, 2014  |  comments ( 0 )  | 
Biyani may acquire majority stake in Spykar Lifestyle

Kishore Biyani's Future Lifestyle Fashion plans to buy a 75% stake in the home-grown denim company Spykar Lifestyle for around Rs 100 crore, in a bid to boost its fashion and lifestyle portfolio.

Media reports indicate that Biyani plans to double Spykar’s sales to Rs 400 crore brand over the next 3-4 years.

Biyani, currently has 35 fashion brands with a combined turnover of more than Rs 7,000 crore. Mumbai-based Spykar was founded two decades ago and has a strong distribution presence across 1,000 multi-brand stores, coupled with its standalone outlets.

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