Oct, 20 2015

Spykar Lifestyles to tap e-commerce space, will open 50 outlets annually

Homegrown denim maker Spykar Lifestyles will launch e-commerce platform spykar.com for its merchandise and expects up to 6 % f sales to come from the online segment in financial year 2015-16.

By Franchise India Bureau
Spykar Lifestyles to tap e-commerce space, will open 50 outlets annually

Homegrown denim maker Spykar Lifestyles will launch e-commerce platform spykar.com for its merchandise and expects up to 6 % of sales to come from the online segment in financial year 2015-16. The company has 200 offline outlets, and is targetting to open about 50 outlets annually on an average for the next 3 to 4 years.

"We are launching our own e-commerce portal and expect to integrate our offline and online presence over the next couple of years," Sanjay Vakharia, Chief Operating Officer of Spykar Lifestyles told PTI.

The denim maker, which has positioned itself as a "premium fashion wear brand for casual dressing", has had a long standing association with the youth. Vakharia said they "would continue to be the company's target audience". 

As a fall-out, up to 5 per cent of sales come from online marketplaces.

The company is looking to organicoally grow its customers, initially drawing traction from its social media fanbase.
"We have over 4.5 lakh fans on social media, and will use this digital fan base to promote our online venture," he added.

Spykar has about 65 exclusive stores in the pipeline for financial year 2015-16 across the country, Vakharia had said earlier.

The company expects to grow its revenues by over 30 per cent for financial year 2015-16 if its marketing initiatives are "on target" and is looking to clock a revenue "upwards of Rs 250 crore", he added.

Related: MFCWL on a fast track to growth

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