Spykar announces expansion
Also plans to boost non-denim businessJanuary 16, 2014 | comments ( 0 ) |
Spykar Lifestyle plans to increase the store count to 400 from existing 254 exclusive franchise outlets. The brand also plans to give a big push to its non-denim business and with a turnover of Rs 350 crore at retail prices, Spykar is expecting to touch over Rs 500 crore in the next two years.
Speaking on the expansion strategy, Sanjay Vakharia, Director Marketing, Spykar Lifestyle, said, “We will look to expand as the opportunity arises. We were one of the first brands to move to Tier II, III markets seven years ago. And we are one of the first brands to step into Tier IV markets. We are expanding as per our plans.”
Spykar was launched in 1992, when Prasad Pabrekar ventured into fashion apparel and accessories to make use of his vast knowledge of processing denim garments. Apart from exclusive outlets, the brand is also retailed through 1,200 MBOs across India.
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