Spykar Lifestyle hopes to achieve 30 per cent more growth in 2016

After fighting industry downturn for two years, Spykar is back in business. It is now in a revival mode, planning to add more exclusive stores and introduce a range for women’s wear. It also launched spykar.com, an e-commerce platform three months ago. The site is expected to contribute six per cent of total business sales in Financial Year (FY) 2015-16. In 2016, the company is hoping to achieve a growth of 30 per cent over last year.

Now that the brand is back, it has big plans to capture the market. It already has 200 offline stores and is now looking at opening 50 outlets every year on an average for the next 3-4 years. These stores will be opened mainly in Tier II and III cities. It already has 50-60 exclusive stores in the pipeline for FY 2015-16. It is hoping to make more than Rs 250 crores this year. Spykar is also planning to explore the export market. Last year, NRI businessman Apurv Bagri had acquired a controlling stake in the company.

Sanjay Vakharia, COO, Spykar Lifestyle, is optimistic about the company’s e-commerce venture and believes that through it they will be able to reach a wide range of potential customers. Through the website Spykar is targeting the youth. Also, he feels that omni-channel retailing model will prove remunerative for the brand.