With an aim of extending high-fashion experience to kids and add elegance in 25 years-plus generation’s wardrobe, fashion brand Spykar Lifetyle is set to introduce OYO, a premium kidswear fashion brand, and VOTO, a premium brand for youth.
“We are primarily in the business of fashion and wish to extend style and elegance to all age groups. There’s a lot of potential in kidswear, but not much fashion is available for kids. OYO is the brand that will fill in the gap by providing fashion for 4-14 years old. VOTO will focus on youth aged above 25 years, and will have high fashion wears,” Sanjay Vakharia, director – marketing, Spykar Lifestyle, told Indiaretailing.
“Being premium brands, VOTO will be priced at Rs 1,500 onwards: the price range of OYO will be vast, wherein some products are priced at Rs 200, while some can cost over Rs 1,500,” Vakharia added.
Discussing product portfolio, Vakharia said that other than casual, leisure, work and formal wear, both the brands will offer accessories including bags, belts, bands and footwear.
Asked about the retail strategy for these brands, Vakharia said: “The brands will have their own identity as they will retail through their own exclusive outlets, and not through the existing Spykar stores. The first outlet of each brand will open in Mumbai before March 15, 2007. The total number of outlets has not been decided as it will depend on the performance of the pilot stores.”
“Plans are to take these brands to over 35 cities within a couple of years. VOTO will open only in metros and tier-I cities, while OYO will move to tier-II towns as well,” he added.
Answering a query on the company’s interest in branding ethnic or traditional wear, Vakharia said: “The company’s focus is on strengthening the present line of western products and the new brands, and is not considering adding ethnicwear in near future.
Elaborating on the plans for Spykar brand, Vakharia confirmed that the company aims to touch the 200 store mark and has planned to open around 60 stores by next fiscal.
Recently, a private equity firm Avigo Capital Partners had invested Rs 21 crore in Spykar, taking around 10-15 per cent stake in the company. These funds are likely to be used for positioning of the new brands
– Ranjan Kaplish