Denim and apparel brand Spykar plans to open 40 new brick-and-mortar stores across India during the 2025 financial year, which begins in April. The brand will focus on franchise launches to reach a wide variety of shoppers with a massive upfront investment.
“We will have a more aggressive expansion- we are looking at a 40-store addition by FY 2025,” said Spykar’s chief executive officer Sanjay Vakharia at an event in New Delhi, India Retailing reported. “The stores will be opened across the country.”
Vakharia spoke on the sidelines of a panel featuring the Clothing Manufacturer’s Association of India at Bharat Tex 2024. The industry event runs from February 26 to 29 at the Bharat Mandapam and Yashobhoomi in New Delhi, according to the event’s official website.
Spykar had previously announced that it plans to bolster its brick-and-mortar presence in Tier 2 and 3 cities to cater to the growing non-metro demand for branded apparel. The brand follows an omni-channel retail approach and also runs a direct to customer e-commerce store.
The brand counts over 2,250 points of sale which includes over 300 exclusive brand outlets, according to its website. Spykar launched in 1992 and has been part of Metdist Group, a Bagri family promoted business, since 2014.
Copyright © 2024 FashionNetwork.com All rights reserved.
