Published
Sep 3, 2018
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Spykar expects Rs 700 crore revenue for fiscal 2018-19

Published
Sep 3, 2018

Indian denim brand Spykar is expecting sales to jump 30 percent to Rs 700 crore ($99 million) during the current financial year as it looks to expand its retail presence and diversify product portfolio to drive growth.
 

Spykar expects Rs 700 crore revenue for fiscal 2018-19 - Spykar Autumn Winter 2017 ‘Young & Restless’ collection


The company is planning to open as many as 100 exclusive brand outlets this year and will be entering the athleisure category to boost its revenue. Majority of the new stores will be opened in tier II, III and IV cities.
 
“We see a remarkable change in consumer sentiments which encourages us to stick our neck out to go for such aggressive growth. This fiscal year we are aiming to close at Rs 700 crore, a growth of around 25-30 percent. We plan to spread in 200 towns soon. And increase store count to 350 stores,” Spykar Lifestyle CEO Sanjay Vakharia told PTI.

“We are getting into the athleisure side of the business and we will make sure that it will start contributing to the business in a major way,” Vakharia added.
 
The label’s main customer base is young men but they are hoping to push women’s wear such that it reaches 25 percent of their sales in the next two years.

Spykar currently has around 220 exclusive outlets in 140 cities, over 700 multi-brand outlets, large format stores and is available on all leading e-commerce platforms.

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