Earlier this year, the company announced its decision to move away from being a just a menswear brand and launched womenswear in August.
Spykar, one of India’s leading apparel and accessories brand, will step into the footwear business by 2017. The company has decided to take this step in order to expand its range and to further penetrate the market. Informing further about the move, Sanjay Vakharia, Director and COO, Spykar Lifestyles Pvt Ltd. stated that the company will foray into footwear in 2017 in a bid to strengthen its portfolio comprising men's and women's clothing and accessories.
The brand would launch casual footwear under its parent brand to complete the wardrobe of the Indian consumer, said Vakharia. Spykar offers a wide range of garments and it is very popular among the youths of the country.
Spykar got acquired by Bagri Group in 2014. Earlier this year, the company announced its decision to move away from being a just a menswear brand and launched womenswear in August. The company manufactures 1.3 million units of denims per year and is growing 30% y-o-y, commented COO.
However, the company has not yet revealed the amount that it would be deploying to setup the project. The brand that works on both retail and franchise business model has stated that it will outsource manufacturing and keep the price points between Rs 600 and Rs 2500.