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Presented by, Tejashri Sankhe. Pranali Bamne. Smita Manjrekar. Ankita Philse. & Reshma Parab. VIVA group….
Adds spark in your life………. Presented to, Mr.Rahul Mavlankar.
The Spykar story started way back in 1992, when Mr.
Prasad Pabrekar led by ambition ventured into fashion apparels and accessories to make use of his vast repertoire of technical knowledge in processing of denim garments.
He started the company with the firm belief that the best investment for the Co. was Human Capital, starting with a just a handful, and slowly built up a company with over 150 employees. He gave them the best possible infrastructure to work within, resulting in a strong & dedicated team. The company is based on strict code of ethics which is evident in its dealing with all its partners; namely employees, trade associates, vendors and the like. Its accent on the quality of its products has been unwavering right from its inception. It has always strived to produce a product, having a global appeal. Denims are the core of the company's business. This has been facilitated by the company's in-house processing unit and gives the company the competitive edge in consistently producing denims of international quality. To continuously innovate, and to bring new styles, cuts and fabric to the market, the company has a team of young and dedicated designers and merchandisers, who are extremely aware of the latest trends in the international market. The company experiments a great deal on new styles and accessories, making them trendy and accessible to the Indian consumer. Since Spykar designs
specifically for Indian audiences, it has the best fits and designs in its repertoire. In 1994, Spykar moved beyond denims and introduced Helium's, a collection of cotton casual wear. This was followed by Forays in 1996; a brand with an attitude positioning that caters to the afteroffice leisurewear segment. SPYKAR products are available at over 500 MBOs across the country, apart from the large format stores like Shopper's Stop, Globus, Lifestyle, Pantaloons, Pyramids, etc. and at the Exclusive Spykar Jeans outlet at Ahmedabad, Ghazi bad, Hyderabad, Indore, Kolkata, Lucknow, Mumbai, Nasik, New Delhi and Pune. Spykar Jeans currently has 90 Exclusive Brand Outlet and plans to increase that number to 150 by the end of 2008. To mark its foray in the international arena, Spykar has also opened its first exclusive outlet at Glades Mall, London. The brand has always focused on the u: th and their aspirations and built up the product portfolio accordingly. All its marketing efforts are targeted at making the brand relevant at all times to this discerning audience.
Prasad Pabrekar - MD An electrical engineer from VJTI by qualification Mr. Pabrekar before inheriting his father's dry cleaning business ran an audiocassette-assembling unit whilst in college. It was in the laundry business that he accumulated vast experience related to denims. Having gained experience in processing denim garments he set up his own denim-processing unit with a seed capital of Rs. One Lakh from a credit society. Since he knew everything about finishing a garment he decided to try his hand at stitching and selling his own brand of jeans. In 1992, Mr. Pabrekar started manufacturing and selling his own brand under the Spykar name, first year of operations saw him incur a loss of Rs. Ten Lakh due to the lack of a well thought marketing strategy. His experience with processing garments taught him to be sensitive to the needs and tastes of the consumers, which gave him the idea for all trials of Spykar to be done on humans rather than on mannequins. His vast technical knowledge and his immense potential in understanding the brand and its market have formulated Spykar into one of India's leading brands today. A firm believer in giving a quality product at the right price has always been the hallmark of his strategy towards the growth of Spykar. Right from its inception, Spykar's focus hasn't wavered from being customer-centric. The brand portfolio has since expanded with line extensions. Spykar has
successfully transcended the traditional denim maker image and moved towards catering 'total casual dressing', by providing complete fashion needs. Currently the Spykar portfolio encompasses an array of casual apparel, from the authentic five-pocket jeans to fashionable denims that includes Cargos, Loozers, Casual shirts, T-Shirts and Cotton Chinos. Today Spykar provides a bigger range and more fits, consistently maintains international standards and has never set foot in the volume game. The Boomerang pneumonic was introduced in 1998. In spite of all its activity and energy and vitality, the boomerang always comes back. The Spykar customer behaves somewhat similarly. He too comes back for more. This is the kind of loyalty that brand Spykar inspires. Mr. Prasad Pabrekar has always been a visionary in the casual wear segment and, in a short span of 14 years, has made Spykar into one of the leading Denim brands in the country today. Mr. Prasad Pabrekar's vision to make Spykar one of the best denim brand in the country, in terms of top of the mind recall, he plans to make Spykar available at all premium MBOs and Large Format Stores, apart from opening exclusive stores across the country, which would present the Spykar range in totality. Spykar has also opened its first exclusive outlet at Glades Mall, London. Mr. Pabrekar has travelled extensively. In fact the dream to set up Spykar started with the desire to travel and experience people and places and different cultures. Now his travel is more focused towards building up knowledge on the garment industry that can be put to practice at Spykar.
Sanjay Vakharia - Director - Marketing Mr. Sanjay Vakharia has been associated with Spykar since its inception in 1992. Quick to spot marketing opportunities, Mr. Vakharia has been primarily responsible for the brand image that Spykar enjoys today. With a Master's Degree in Management, his sharp business acumen saw him rise from the position of Manager Marketing to Marketing Director. Today he is responsible for the overall Marketing & Brand Communication strategies of the company. Prior to joining Spykar, he worked with Magna Publications as the Export Manager (Garments) wherein he was responsible for setting up the marketing network in the US & UK markets. Additionally, he was the Marketing Manager for their Toys & Games division. By 1992, was heading the manufacturing and marketing of the denim company, Ragz. His focus, in terms of communicating directly to Spykar's core audience, people in the 14 - 26 years age bracket has never wavered, the product line and marketing communications have evolved with the changing tastes of this discerning group. But the aspirational value of the Spykar brand has never been compromised. Under the astute direction of Mr. Vakharia, Spykar Jeans has followed a distribution strategy of retailing through at over 500 Multi Brand Outlet across India and Large Format Stores like Shoppers' Stop, Lifestyle, Pyramid, Globus, Pantaloons etc. Spykar also retails through exclusive stores across the nation.
Mr. Vakharia is currently spearheading Spykar Jeans foray into retail business, having already set up 90 Exclusive Spykar Outlets and plans are afoot to have a total of 150 exclusive stores by 2008. Spykar strategy has also taken the brand to the Middle East. Mr. Vakharia has a keen eye on everything about the stores - right from the theme, décor, aesthetics, music, to the range of garments and accessories displayed. Mr. Sanjay Vakharia has travelled extensively. Each of these visits are undertaken to acquire knowledge, be it garments or accessories or marketing techniques and POS material. And these inputs have really propelled Spykar in to a truly world class denim brand, where the accent on quality of the garment never wavers. And at the same time delivers a product that is easily distinguishable from the rest of the brands in the denim market. ----
The company is committed to being the first choice casual wear brand of the youth. The company’s brand does not have a fixed definition but has always been relevant to the u:th and also to the changing market dynamics. The company’s brand building activities will continue to maintain the premium positioning and make it one of the most inspirational, trendy and obviously the most sought after brand. The Company is compliant, eco friendly, socially responsible, evolving, profit oriented, always peoplecentric and doing justice to those who work for it.
Though professional and passionate; the people will have their professional and personal lives aligned. We revolutionized Cargo's in the country with the very non-conformist look and its innovative presentation. We broke all norms of how a pair of pants should be sold. Rolled and tied by a canvas strip and stocked in this form on the shelves - it defied conventional norms and challenged tradition. Target audience who identified with this Rebellious approach lapped-up the product and yet again Spykar scored in turning the table upside down. We sold nearly 70,000 pants and cargos with not even 60% of the demand fed. To cut the monotonous complacency of basic 5 pockets we stylized denims as flamboyant blues. This fashioned persona of denims was introduced as Actifs (Spykar's Fashion Denim Collection) with 5 fits Stern, Rebel, Maverick, Recruit & Renegade.
1992 - Proprietary concern set up to launch ready to wear garments 1993 - Emergence of the Brand (Spykar) 1996 - Introduction of Heliums and Forays 1998 - The company Span Apparels was incorporated and the workings of the proprietary concern was taken over 1999 - First Exclusive Retail Store in Hyderabad 2000 - Started Spykar Jeans Lab 2002 - Started Spykar Style Lab 2003 - First Flag ship retail store in Phoenix MillsMumbai 2004 - Revolutionised the category of Cargos by innovative packaging & design 2005 - Set up its own washing unit at Kharine, Navi Mumbai 2006 - Set up an exclusive store in UK, London Set up 50th Exclusive Brand Outlet at Khar, Linking Road, Mumbai
Won the Best Casual Wear Brand of the Year and Product Innovator of the year at CMAI APEX awards.
Spykar Lifestyles goes in for Private Equity
Spykar Lifestyles, India's No.1 U: th Fashion Brand, announced its PE Funding today in Mumbai, with Avigo Capital Partners. Avigo Capital Partners has invested INR 21 Crore (INR 210 Million) in Spykar; with the final percentage stake would be worked out on the milestone based method in 2009. The stake is likely to be in the region of 10 - 15%. This is the first PE funding that Spykar Lifestyle has had. Commenting on the PE funding Mr. Prasad Pabrekar, Chairman & Managing Director, Spykar Lifestyles stated "Spykar has sustained growth of over 60% pa, compounded purely on own resources throughout the last 4 years. Spykar is looking at an exciting growth of about 100% compounded annually for next few years and would cross 500 crores mark in short time span of about 36 months. To sustain this growth infusion of capital is must. We are pleased to have Avigo Capital Partners invest in Spykar purely because they are valued and respected as matured Private Equity player with right approach and world connectivity. Spykar's turnover of about 90 Crores in 06-07 will take quantum jumps to Rs.160 Crores in 0708 and Rs.330 Crores in 08-09 followed by Rs.500 Crores in 09-10. The funds mobilized through this private equity stake are sufficient for Spykar Lifestyle to finance projected growth for next 3 years. However, in case the targets are surpassed second round of infusion is not ruled out. Further Spykar has will plan towards its IPO by Sept, 2009. The details of issue will be worked out by March, 2009."
Mr. Siaf Dohrajiwala, VP- Investment, Avigo Capital Partners commented "The deal is about non-intrusive partnership. Avigo has full faith in management ability of Spykar and as such there is no control envisaged over functioning of Spykar." Spykar believes that retail expansion is the key to future growth. Developing adequate sourcing ability to match sales growth would entail expansion of designing and sampling ability along with creation of infrastructure for world class quality control. The investments in next two years are clearly focused on these areas clearly in the domestic market. With biggest of the brands trying to enter India it would be certainly out of place for established Indian brand to shift focus. However international market will become attractive due to removal of trade barriers post WTO. Spykar has already taken test marketing entry in Europe by putting up exclusive branded store at London. The next two years as Spykar focuses on Indian market; it will also acquire insight in European market which has been identified as market that can offer attractive margins and tremendous learning's. International foray would be thereafter begin with Europe and extend to other countries. On anvil are two more brands addressing different market segments; one would be for the kidswear segment and the other for a 25 year to 40 yrs age group, 24 x 7 leisure and workwear fashion brand. The entry in other lifestyle products has also been made with world-class eyewear, footwear, junkjewellery, and other lifestyle accessories already launched. Nearly 15 different categories of accessories are planned out of which about 9 have already hit the stores.
The focus is addressing the fashion needs of U:th segment which is extended on both sides of that spectrum and to deliver world-class fashion products consistently. As an incident of identifying fashion need Spykar has been only one to offer concept of style labs in selected cities where the U:th gets entire makeover including hairstyling, tattooing, body piercing, eyewear/ coloured lenses and of course the core of Spykar clothing with well matched accessories. Internationally these concepts and products have tremendous acceptability, however there are country specific facets to be studied and Spykar has plans to make big international foray once the insight in these finer aspects of overseas markets are acquired over next two years.
About Avigo Capital
Avigo Capital Partners (Avigo), an independent private equity manager based out of New Delhi, plans to formally announce the closing of The Avigo SME Fund II in June 2007 having received commitments of over USD 125 million from marquee international and Indian institutions. The Fund has made investments in 5 companies to date in the Manufacturing, Industrial Services, Energy & Infrastructure and other emerging sectors. One of its fastest growing portfolio companies, Tecpro Systems, is a leading company in the bulk material handling business. The other companies in its portfolio - GET Engineering Constructions involved in the power distribution industry and Privi Organics, a leading global manufacturer of intermediate aroma chemicals for Flavors & Fragrance (F&F) industry are both growing aggressively.
Ltd-------Brand vision Deliver cutting edge fashion to the Indian youth and become a youth cult(ure). Brand worth It's obvious that the brand is worth much more than what it used to be in earlier times. People have started recognising the worth of a brand as an intellectual property, the same way they used to see their tangible assets. In
the WTO backdrop this will be all the more significant because the world will become much smaller and closer to each other.
Your brand will then allow you a lot of opportunities to function and leverage. Probably the
brand may then be the most important asset owned by the organisation having its value much higher than a lot of other assets owned by that organisation.
Where does the brand fit in? Spykar Jeans happens to be India's only denim brand in its category. It's a space created by itself and is enjoying a near monopoly in its category. Internationally there are quite a few
similiar players, but in India there aren't any emerging to compete. Until these international players come down for company, Spykar feels pretty lonely at the top.
The brand came into being in 1992. The focus of our business and the product has always been the youth.
will stimulate their instincts and appetite.
The concept was to deliver cutting edge fashion denims and casualwear to the youth, which
The brand has evolved over a period with the youth. Wherever the youth has ventured, we have done so in some way. We have religiously focused on the youth. So the flavour one gets out of our brand is always young, fresh and youthful. To consumers, Spykar Jeans has always tried to deliver a value-for-your-money proposition. No compromise is ever made on the product, and we have never charged a premium for it. We are in the premium
category due to the category we cater to – fashion of premium quality. Our business associates have grown with the brand, and we boast of probably the lowest personnel turnover ratio in the industry. Our ethical business practices have served us well, and we attribute our growth to it as well. All the people involved with Spykar Jeans, in whatever capacity, are passionate and loyal to the brand. Since it’s a tightly held company, the promoters are for sure a happy bunch.
Challenges ahead To communicate its philosophy to the target audience in such a way that the essence is not lost and setting up a retail network to reach to the youth in the most effective manner. Social responsibility Prove to the world and ourselves that we Indians are good at everything and will deliver the best always. To believe in our capabilities and strive to achieve the best in all our attempts.
Spykar Jeans introducing more products range Plans to enter with undergarments, luggage, eyewear and kidswear
Positioning & Branding
Targeted at the 13-26 years age group, Spykar has managed to position itself as a distinct denim brand, that is brash and inspirational, confident, energetic and exuberant, as a modem fashionable wear in the true sense of price, styling, colour and availability.Spykar, as we define is catered to a youth who believes in doing the uncommon with Class, Perfection and Confidence. The Spykar wearer relishes a
challenges and rises to the occasion when put to test. Adventurous to the core, a Spykar customer often sets himself the highest standards and strives to achieve them, challenging the conventional norms.
”Spykar is in sync with the vibrant U:th of today. Kim Sharma”
Spykar Jeans Terence Lewis Calendar launch
Spykar Style Lab 2002 was a huge success for Spykar as well as the associated brands in terms of Brand Visibility. Partners encash on the media visibility and event experience, for which they invest in by providing their products and services at the venue as well.
In keeping with the unique event proposition, the partners are expected to provide niche offering. A brief profile of the offering is:
A recent introduction in the market
• • •
Creative ways of using a particular product Promoting the character values of a particular product A teaser towards a new product/service yet-to-be launched
This year, as part of our winter 2003-04 collection, will be the new combat range to be displayed at the Spykar Style Lab. The theme, therefore, would be 'army' ish, soldier-like, but in a
very subtle manner. Can't go all out on the combat because the combat range too would only have the same subtle reference to combat uniforms. Think Desert warfare as opposed to Jungle warfare. More khakhi and cream than military fatigues / camouflage
The tops and the bottoms would be so designed that the style more than the fabric gives the combat feel.
1. Spykar launches a new look for winter "Introduces trendy, exciting, glamorous 70's of studio' 54 look"-Distressed, bold and asymmetric, fusion and washed out are the looks for the season. SPYKAR launches its new Winter Range.
The Winter Range has been inspired by the glamorous 70's of STUDIO '54 look. Overall and asymmetric print and embroideries, pigment sprays, bold and psycho graphic prints, applique works are the main features of the collection.
The denims this season have been treated with multiple processes and washes; overall discharge, uneven blasting, pigment sprays and stitch detailing. Denim-cord-canvas fusion and distressed look are the exclusive merchandise from the range. Several techniques and materials are blended together to give richness and individuality to the
fabric. Mixing fabrics in a kind of patchwork style are eye-catchers. The range is significant with a multitude of contrasts in fabrics, patterns and prints. Spykar also presents a refreshed new attitude of strength, trends and utility in its knitwear line, with an addition of a vast flat knit range to its existing range of T-shirts.
The new range of shirts is priced between 695/- to 1095/-, jackets Rs. 1195/- to Rs. 1395/-, Helium's Rs. 995/- to Rs. 1395/-, Actifs Rs. 1195/- to Rs. 1395/-, Knits Rs. 375/- to Rs. 1245/-.
The range is currently available off the shelves of Shopper's Stop. The new range will also be retailed at the exclusive Spykar stores at Hyderabad, Kolkatta, Patna and Mumbai (opening shortly). 2 .50% off On Spykar Jeans In Spykar Factory Outlets. upto 50% off. Offer For Spykar Jeans at Factory Outlets and Excusive Showrooms.Spykar Jeans intends to offer complete styling solutions to consumers and has set up the spykar style lab which is a mix of a clothing store and a hair salon that offers the
customers their attire, hairdo, tattooing, accessorizing them, bearing the trademark of Spykar, informs an official release.
Promotional Ideas from our group…… Free Samples: Look for key locations where your target group can be found and give out free samples. If possible give free demonstrations of your service or product. Also, they have to go different collages, and they have to take some events... So that they can increase there sale among the youngsters.