Biyani may acquire majority stake in Spykar Lifestyle
Acquisition may cost Rs 100 croreMay 08, 2014 | comments ( 0 ) |
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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