SPAN Apparels Pvt. Ltd., the makers of the Spykar brand of jeans, has appointed Initiative Media as its media buying partner. The size of the account is estimated at Rs 2 crore. As it intends relying on below the line promotions for marketing its Spykar brand, the company has also roped in Advent, the event management and promotions division of Lintas India to handle its brand.
Speaking to Business Line, Mr Sanjay Vakharia, Marketing Director, Spykar, said, "More than relying on mass media advertising, we try to talk about our brand through a number of below the line activities. Most of our creatives continue to be done through our in-house agency and now we have appointed Initiative Media to release our ads."
Besides the company has also roped in the creative services of Mr Sonal Dabral, who presently heads O&M in Malaysia. "Mr Dabral is presently working on our creatives in his own personal capacity," specifies Mr Vakharia.
The Spykar brand was launched in 1993 targeting the youth as its main target audience. Positioning Spykar as a cult brand meant for the youth, the baseline for the brand presently reads as U:the cult(ure). It has also introduced a boomerang mnemonic to highlight the effect the brand is likely to have on the youth.
Explains Mr Vakharia, "The Spykar customer is expected to behave somewhat similarly like a boomerang. He too is expected to come back for more."
Pitted against brands such as Killer, Pepe and Levi's, Spykar targets the15-25 age group and has products such as Cargos, Casual Shirts, T-Shirts and Cotton Chinos priced between Rs 375 onwards.
The company also intends launching its own brand of stores and is presently scouting for a partner to venture into the retail business. With intentions of launching 40 outlets within the next four years, Spykar's retail project will require an investment to the tune of Rs 20 crore. "We are looking out for some equity participation in our retail project and need financers who are preferably already in the retail business," says Mr Vakharia.
A new joint venture company is likely to be floated for Spykar's retail stores. Presently the brand is being retailed through 400 MBOs (multi-brand outlets) across the country.
Some of the events the brand has recently been associated with include youth-centric movies such as Daredevil, apart from being part of a host of college festivals across the country. It also launched a new combat range as part of its winter collection this year by associating with the movie LOC, where the preview of the film saw the theatre staff dressed in Spykar's new combat range.
The Rs 16 crore Spykar brand expects sales of Rs 25 crore this year.