Denim maker Spykar Lifestyles is planning to open 65 exclusive stores across the country in the current financial year that will take its store count to over 250, according to media reports.
"Over the past few years there has been a lull in the industry but business is now picking up so we are stepping up our marketing for the brand," Sanjay Vakharia, director of marketing at Spykar told.Denim maker Spykar Lifestyles is planning to open 65 exclusive stores across the country in the current financial year that will take its store #
"We have nearly 65 exclusive stores in the pipeline for FY16 across the country," he added.
Spykar expects to grow revenues by over 30 per cent for the fiscal and is targeting a revenue upwards of Rs 250 crore, Vakharia said. The company plans to spend about 8 per cent of its revenues on marketing.
Vakharia said youth would continue to be the company's target audience. "Nearly 7-8 per cent of our jeans' sales comes from online because of our young target audience between 18-35," Vakharia said.
This is higher than the average online sales of clothing brands, which is usually under 5 per cent of overall sales.
Spykar has no plans to launch its own online store for now and will only sell through other market places, he said.
In offline retail, the company is looking at focusing on the southern markets, followed by the central region.
Besides its own exclusive outlets, Spykar denims are retailed at over 11,000 outlets across 300 cities, he said. (SH)
Fibre2Fashion News Desk – India
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