Fashion apparel brand Spykar, which is expanding its presence in the women’s wear segment, is aiming to double its sales to Rs 700 crore in the next four years.
Besides, the company would enhance its sales network and tap the online sales channel to boost the sales.
“This fiscal, we are intending to do a business of Rs 325 crore. We are growing about 30 per cent and would have the similar one in the coming years and in the next four years, we would be around Rs 700-crore brand,” Spykar Lifestyles COO Sanjay Vakharia said.
“We are very confident on the women’s segment. It would be one of the largest areas of growth for us as it has huge potential and space,” Vokharia said.
“Presently, 6 to 8 per cent of our total business comes from online and we are expecting it to grow further as the channel would mature in coming years,” he said.
Started in 1992, Spykar Lifestyles has a network of 205 franchise shops and 300 large branded stores in 110 cities. The company enjoys advantage in smaller towns, from where it gets 60 per cent sales. Tier I cities account for 40 per cent sales.
