Latest news with #SanjayVakharia
Time of India
26-07-2025
- Business
- Time of India
Spykar charts cautious growth, bets on ‘Made in India' strength amid rising fast fashion competition
New Delhi: Denim and casualwear brand Spykar posted a 6-7% growth in FY25, in line with its conservative plan for the year, as it chose to focus on internal efficiencies over aggressive expansion, said Sanjay Vakharia , Co-founder and CEO of Spykar Lifestyle , in an exclusive interaction with ETRetail. 'There was no push for growth last year. It was a course correction year for us. Despite that, we grew 6-7% over the previous year,' said Vakharia. The brand stayed cautious in light of subdued consumer sentiment and avoided inventory overbuilds. Instead, it invested in back-end stability and retail discipline positioning itself for stronger, more sustainable growth ahead. Spykar doubles down on Made-in-India supply chain With trade realignments and tariffs in focus globally, Vakharia underscored Spykar's 100% India-based manufacturing and sourcing model, calling it both a strategic and value-driven choice. 'We are proudly and completely made in India . Our entire supply chain including yarns, fabrics, accessories, embellishments is domestically sourced. There's no dependency on imports,' he said. He added that recent policy shifts and tighter scrutiny on Bangladesh-made products may benefit Indian manufacturers in the long run by reducing unfair cost advantages. 'Bangladesh gave Indian manufacturers a tough time due to ultra-low labour costs. The government's move to check these products was long overdue and will level the playing field,' he noted. India-first playbook: 500+ towns, 160+ own stores While global giants like Zara, H&M and Uniqlo are expanding in India's metros, Spykar sees opportunity in its wider reach across 500+ towns, including 160 exclusive brand outlets. 'Most international brands are still focused on the top 20 cities. We are already present in 160 cities through our stores and in over 500 cities via trade networks,' said Vakharia. 'That gives us a big first-world advantage. There's huge headroom in the next 350 cities.' Competing with fast fashion — but on quality, not price Spykar welcomes the rise of homegrown fast fashion players, but is firm about not joining the race to the bottom. 'The first casualty in cheap fashion is quality. Indian consumers may love a good deal, but they are extremely value-conscious,' said Vakharia. 'It's not about buying cheap — it's about getting the right product at the right price.' He believes newer fast fashion brands are helping bring unorganised consumers into formal fashion, which eventually benefits established brands like Spykar by creating aspirational upgrade pathways. At the product level, Spykar is investing heavily in customised fits for Indian body types, trend-driven collections, and a sharp price-to-quality balance that appeals across demographics. Looking ahead With cotton prices stabilising and global headwinds potentially favouring India's apparel sector, Vakharia is optimistic but measured. 'The more stable the environment, the easier it is to plan. We hope the current momentum holds,' he said. As the market polarises between hyper-value and premium segments, Spykar is betting on fit, quality, and trust to stand its ground — not just against global brands, but also against the rising tide of domestic fast fashion players.
Fashion Value Chain
31-05-2025
- Entertainment
- Fashion Value Chain
Spykar Unveils Chico Fit with Vidyut Jammwal as Brand Face
Denim gets a fearless upgrade as Spykar, India's leading homegrown denim brand, launches Chico Fit, a bold new silhouette that champions comfort and individuality. Actor and action icon Vidyut Jammwal leads the campaign, bringing his signature confidence and athleticism to the brand's evolving denim narrative. The Chico Fit campaign, launched across YouTube and Instagram, marks the beginning of a new chapter in Spykar's journey—one that blends fashion-forward design with purpose-led styling. Crafted for those who live unapologetically, Chico is built from premium stretch denim, engineered for breathability and movement, and designed with a relaxed yet structured silhouette that reflects today's urban pace and expressive identity. 'Spykar has always spoken the language of denim—expressive, unapologetic, and relentlessly authentic,' said Sanjay Vakharia, Co-founder and CEO of Spykar. 'With Vidyut joining our community, we're amplifying a mindset. Chico is not just a fit—it's a statement.' Chico Fit represents a shift towards everyday denim that performs, offering a balance of style, functionality, and freedom. With Vidyut Jammwal, known for his fearless fashion and disciplined lifestyle, Spykar delivers a campaign that resonates with India's confident, style-savvy youth. This collaboration isn't just about a new fit—it's about shaping how a new India wears its identity. Campaign Video: YouTube & Instagram
