• About
  • Contact
Monday, May 23, 2022
  • Login
Next Big Brand
  • .
  • News
  • Marketing
  • Tech
  • Insight
  • Interviews
  • Internet
  • Startup
  • OTT
  • Industries
  • FMCG
  • CRYPTOCURRENCY
  • Retail
No Result
View All Result
Next Big Brand

How An Indian Brand is Giving Tough fight to the likes of Levis and Lee – Spykar Jeans

Sourav by Sourav
May 29, 2019
in Insight, Retail
Reading Time: 3 mins read
A A
0
Screen Shot 2019 05 28 at 10.36.47 PM

Beginnings are usually small. Every giant corporate that we read as a successful case study today, started from a small office someday. Spykar Jeans is no exception.

The Spykar Story started way back in 1992, when Mr. Prasad Pabrekar, led by his vision and ambition, ventured into fashion apparels by starting Span Apparels Pvt. Ltd to make use of his vast repertoire of technical knowledge of processing Denim garments. Today, Denim are in the core of the company’s business. This has been facilitated by the company’s in-house processing unit and gives the company a competitive edge in consistently producing denim of international quality.

As India adopted Western fashion styles in the last 2 decades, Jeans emerged as one of the most versatile clothing options. From metros to rural areas, donning a pair of jeans became common and a style symbol among several age groups. Whether it is work, college or family gatherings, and parties, jeans can be worn everywhere.

Screen Shot 2019 05 28 at 10.38.26 PM
Image Souce – www.spykar.com

Giving Global Brands, a Run for their Money

Several Brands offer their label of jeans in India. The most popular ones include Levis, Lee, Wrangler, Pepe Jeans, etc. But these are all international brands. Among Indian denim brands, Spykar Lifestyle stands out as one of the largest and fastest-growing brands here. Since 1992 the brand, over the years, has been through thick and thin in the Indian market.

As mentioned, Mumbai-based Spykar started small in 1992. But as time progressed, it transformed into one of the larger players, thanks to Sanjay Vakharia, CEO, Spykar Lifestyle. It has now become a common name among Denim enthusiasts and a leading casual wear brand with a focus on hi-fashion denims. The home-grown brand now competes directly with its foreign counterparts.

The Growth and Expansion Plan

Spykar products are available PAN India across 250 exclusive outlets, in more than 1,000 multi-brand outlets, large format stores as well as e-commerce sites. The brand offers casual topwear, bottom-wear, and accessories like backpacks, flip-flops, perfumes, wallets, deodorants, etc through these exclusive outlets. It is planning to expand its retail footprint by adding more stores in metro markets and open Newer ones in tier-2 and tier-3 cities to take the total store count to over 350 by 2020-21.

Besides, the company is working on expanding presence in online space and is evaluating the options to create a special line to address the millennials. “Our plan is to add 35-40 stores a year. We would be over 350 stores by 2020-21 fiscal,” Spykar Lifestyles CEO Sanjay Vakharia.

Screen Shot 2019 05 28 at 10.44.13 PM
Sanjay Vakharia, CEO, Spykar Lifestyle, Image Source – exchange4media

“There is a lull in the economic environment at the moment, but Spykar has managed to up the ante for the brand and has achieved a phenomenal 20 percent growth in the current financial year,” says Sanjay. “Spykar’s customer sales grew from Rs 460 crore in FY 2016-17 to Rs 550 crore in FY 2017-18.”

This year, the company plans to touch Rs 700 crore and continue growing at a fast rate. Sanjay maintains that Spykar has sustained growth despite being affected by major challenges such as demonetisation and GST.

To boost investments into the company, Spykar in 2014 became part of the Bagri family promoted Metdist Group, a diversified portfolio of companies. This UK-based conglomerate focuses on fashion, hospitality, technology and metals industries.

Future plans

How do you build a future for a brand which caters to youngsters?  The young customers don’t inherently know what they want and can be easily swayed by trends.

Despite the challenges from competition and Online, Spykar is looking to expand. “We aim to have our shop-in-shops and multi-brand outlets spread across 500 towns. We also hope to have our standalone stores spread to 200 cities soon,” Sanjay says.

To do this, the company plans to add around 30 to 40 exclusive brand stores a year. It also seeks to simultaneously strengthen its presence on e-commerce platforms. “The womenswear segment will also contribute in a noticeable way in the coming years. In terms of the product line, we are also getting into the denim athleisure space,” he says.

Previous Post

IImjobs.com and Hirist.com are now owned by Naukri.com after Rs 81 crores deal

Next Post

Swedish caller identification app Truecaller named Sandeep as its India Managing Director

Sourav

Sourav

Excellent story-teller, with a background in SEO and Digital Marketing. Likes to write and give form to opinion and incidents.

Related Posts

High street essentials founders
News

High Street Essentials Bags 40 Crore From Stride Ventures

May 20, 2022
paytm mall
News

Jack Ma Exits Paytm Mall, Sells 43% For Rs 42 Crore Valuation Down To Rs 100 Crore

May 17, 2022
20220504 182358 0000
Insight

B2B Brands Future And Startups Growth In India

May 4, 2022
Zepto Founders
News

Zepto Raises $200 Million, Nears Unicorn Status As Valuation Reaches $900 Million

May 3, 2022
HUL Brands Valuation- Next Big Brand
Insight

HUL Crosses ₹50,000 Crore Turnover, First Pure FMCG Company To Hit Milestone

April 28, 2022
Nykaa Founder
News

Nykaa Announced Acquisition of 18.51% Stake In Beauty Brand Earth Rhythm For ₹41.65 Crore

April 22, 2022
Next Post
truecaller-white-with-blue-background

Swedish caller identification app Truecaller named Sandeep as its India Managing Director

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

BROWSE BY TOPICS

Acquiring amazon Apple brand story BYJU Ravindran Byjus byjus news byjus the learning app Cryptocurrency Edtech Startups Elon Musk facebook fintech news Flipkart funding google Indian OTT Platforms Indian Unicorn Indian Unicorns Indian Unicorns of 2021 Mukesh Ambani Netflix NFT NFT Collection Non Fungible Tokens Ola OYO Paytm Reliance Retail Startup Acquisition Startup IPO startup news india Startups startups in india Swiggy Tiktok TikTok India Twitter Unicorns of 2022 Unicorns of India Unicorn Startups Upgrad YouTube Zomato Zomato App

Instagram

Follow Me!

Recent News

  • Vijay Shekhar Sharma Reappointed as Paytm MD and CEO Till December 2027
  • High Street Essentials Bags 40 Crore From Stride Ventures
  • Used Car Ecommerce Platform Cars24 Lays Off 600 Employees To Cut Cost

Latest News

Paytm ceo

Vijay Shekhar Sharma Reappointed as Paytm MD and CEO Till December 2027

May 23, 2022
High street essentials founders

High Street Essentials Bags 40 Crore From Stride Ventures

May 20, 2022
  • About Us
  • Privacy Policy
  • Terms and Conditions
  • Disclaimer
  • DMCA Policy
  • Our Team
  • Contact Us
  • Sitemap

© 2019 NBB. All Rights Reserved.

No Result
View All Result
  • .
  • News
  • Marketing
  • Tech
  • Insight
  • Interviews
  • Internet
  • Startup
  • OTT
  • Industries
  • FMCG
  • CRYPTOCURRENCY
  • Retail

© 2019 NBB. All Rights Reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.