In­dian denim brand Spykar eyes Rs. 700 Cr in FY 2018

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Rs. 550 crore was the fig­ure that Spykar, an In­dian denim la­bel, recorded in the pre­vi­ous fis­cal year. Aiming big for the next fis­cal, the fash­ion brand eyes to clock Rs. 700 crores in rev­enue in the on­go­ing FY. If it man­ages to record the eyed amount, an ap­prox­i­mate (and an im­pres­sive) surge of 30 per­cent would be made by the brand.

See­ing the de­mand and pop­u­lar­ity of denim prod­ucts in the young and fash­ion-con­scious In­dian mar­ket, it ap­pears to be achiev­able for Spykar to fetch Rs. 700 crore.

The pre­vi­ous stats of the com­pany also state the same. As per me­dia re­ports, Spykar’s re­tail busi­ness dou­bled and prof­its soared by four times since 2016. Also, the fes­tive sea­son ahead in In­dia will give fur­ther boost to the fash­ion com­pany. To tap the aimed growth, Spykar has plans in place to am­plify its phys­i­cal re­tail pres­ence by adding 130 new stores soon. At present, the denim brand has 220 stores in 140 In­dian cities. The com­pany’s foray into the buzzing ap­parel cat­e­gory — Ath­leisure will also bol­ster rev­enues. Along­side, e-com­merce op­er­a­tions are ex­pected to ac­count for 10 per­cent of the to­tal busi­ness. Cur­rently, e-com­merce is at 7 per­cent in over­all earn­ings of the com­pany.

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