Woodland expects 15 percent revenue jump this fiscal, plans to add 40 stores yearly

Adventure footwear and apparel maker Woodland is expecting is revenue to jump 15 percent for the financial year 2017-18 to Rs1350 crore (approx $210.8 million). The company also plans to add 40 stores annually and scale up its new launched premium brand ‘Woods’, said a top company official.
 

Woodland recently diversified its product range by adding bicycles to its portfolio at its flagship stores. The company is also planning to foray into the innerwear and leisure market with products like vests, briefs, trunks, inner T-shirts and shorts which will all boost the company’s revenue in the fourth quarter of the financial year from January to March 2018.
 
The company’s premium brand ‘Woods’ which offers formal wear, leather footwear, bags, jackets and belts for both men and women is expected to make significant contribution of 25 percent around Rs 337 crore (approx $52 million) to total revenue.
 
Woodland’s is further looking to capitalise on the popularity of its sub brand by opening stores in other metro cities like Mumbai, Bangalore, Pune and Kolkata in the coming months.
 
"Our revenue in the last financial year was Rs 1,200 crore from operations in India, Hong Kong, Middle East and CIS nations," MD of Aero Club, Harkirat Singh, told news agency PTI.
 
"We plan to add 30 to 40 stores each year." We also looking for space in Mumbai, Bangalore, Pune and Kolkata to open Woods stores,” Singh added.
 
The brand currently has 600 company-owned stores and is present in over 5,000 multi- retail outlets across the country. Woodland is owned by Aero Group.

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