Spykar Lifestyles, which owns Spykar Jeans, is also looking at divesting close to 12-15% stake to fund the expansion plans. It is in final talks with private equity players to raise around Rs 30 crore. Nationally, Spykar Jeans is targeting a presence of 150 outlets by October-end. Currently, it operates 82 stores in the north and west.
Spykar Jeans is targeting revenues of Rs 30 crore from the south, and nationally it is aiming at reaching a retail value of Rs 162 crore by the year-end. It registered a turnover of around Rs 89 crore for FY07.
Spykar Lifestyles is also looking at expanding its portfolio in the non-apparel category. It is looking at launching eyewear, innerwear for men, and fashion luggage soon.
Spykar Lifestyles Pvt Ltd
marketing@alchempro.com
