Spykar reopens franchise stores but keeps company-owned outlets shut, expecting low demand

By

Isabelle Crossley

Published
May 11, 2020

Denim brand Spykar has reopened around 25 of its franchisee-owned stores in India but has decided to keep its company-owned stores closed until May 17, expecting low demand for fashion and uncertainty for businesses.

 
“These are early days for business to look up,” Spykar Lifestyles’ CEO Sanjay Vakharia told the Press Trust of India. “These are just symbolic that business has started. Something to be looking forward to in these times. Any sane and practical business person would know that it is going to take some time before business normalises to where it should be.” 
 
The brand also expects that, without government support, many fashion brands will find it difficult to meet their financial obligations and keep staff employed. “50 days have passed and not a single rupee has been recovered from the entire country in that sense,” said Vakharia. “Overall it is not a great time and the ability to kind of keep honouring obligations would be getting minimised by the day.”

The sector has been “let down by the government,” according to Vakharia, who is unsure how long businesses will be able to sustain themselves under the current conditions. “I think it is too long and the sense of insecurity which is pervading through the entire workforce is going to be a lot more damaging than what the government is anticipating,” said Vakharia.
 
The brand is encouraging its followers on social media to stay inside with its ‘Denims are In’ media campaign on Facebook. The brand has also hosted interactive exercise sessions on Facebook including yoga and cardio classes to keep its customers engaged and promote healthy living during lockdown.