The Hindu Business Line : Spykar launching 2 new brands

Spykar Lifestyle, an unlisted entity that makes garments and other fashion products, said that private equity firm Avigo Capital Partners has invested Rs 21 crore in it. "The final percentage stake that this will work out to will be calculated on the milestone based method in 2009. The stake is likely to be in the range of 10-15 per cent," said Mr Prasad Pabrekar, Managing Director, Spykar Lifestyle. The company plans to use the funds to launch two new brands - `HOP' for the kidswear segment and a leisure and workwear brand for the age group of 25-40. "The investments in the next two years are clearly focused on these areas in the domestic market," said Mr Pabrekar.

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