Spykar Lifestyle strengthens Central India footprint with 19th store launch in Indore
07 January 2025, Mumbai
Spykar Lifestyle has inaugurated its 19th store of the current fiscal year at Unity One Mall, Indore, signaling an aggressive acceleration in its regional penetration strategy.
This launch marks a critical milestone toward the brand’s roadmap of exceeding 400 exclusive brand outlets (EBOs) by the end of FY 2025–26.
As Indore matures into a premier commercial hub, Spykar is positioning itself to capture the escalating aspirational demand from Gen Z and Gen Alpha consumers, who are primary drivers of the organized denim segment.
With India’s denim market projected to reach $9.15 billion by late 2026, this move secures a strategic foothold in a high-growth corridor where branded retail adoption is currently outpacing traditional metro markets.
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Scaling the asset-light retail blueprint
Indore represents a vital demographic intersection where increasing disposable income meets high fashion aspirations, states Sanjay Vakharia, CEO.
The brand’s expansion is underpinned by a 100 per cent franchise-led, asset-light model, which facilitates rapid scaling while optimizing unit economics.
This strategy has sustained a steady 15 per cent CAGR over the last seven years, even as the sector navigates challenges like volatile cotton pricing and rising mall rentals.
By integrating AI-driven demand forecasting and a diversifying portfolio - including footwear and ‘Green Denim’ sustainable lines - Spykar is transitioning from a denim specialist to a comprehensive lifestyle brand.
This regional consolidation ensures the brand remains a dominant player against both global fast-fashion giants and domestic value competitors.
Founded in 1992 and part of the Bagri family-promoted Metdist Group, Spykar is a leading Indian denim brand targeting the youth segment. Operating via 300+ EBOs and 2,250 points of sale, the company reported FY24 revenues of Rs 602 crore. Its growth strategy focuses on franchise-led expansion and sustainable manufacturing practices.
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