Denim brand Spykar plans to add in the next three years 150 exclusive outlets to its existing retail network across the country.
According to Sanjay Vakharia, its Chief Executive Officer, Spykar is sold in 250 exclusive outlets and more than 1,000 multi-brand outlets, large format stores, and e-commerce sites. Its outlets are opened on franchise basis, he said.
The brand has a range of denim products for men and women and its focus is on customers in the 15 to 22 age group. Spykar, which according to a recent Neilson report is among the top preferred denim brands in the country, registered 21 % CAGR for the last four years.
“The company expects the same rate of growth for the next two years. We expect huge jump in growth in the southern States and also from women wear,” he added. The annual business of Spykar is approximately ₹700 crore. The focus will continue to be the domestic market.
