Woodland targets 15% growth, Rs 1350 crore sales this fiscal

By

Maverick Martins

Published
Sep 7, 2017

Adventure footwear and apparel maker Woodland is eyeing Rs 1350 crore (approx $210.8 million) in sales in the current financial year as it expects its exports and ecommerce to contribute to the overall sales of the company.

In order to achieve the set target the company is planning to set up 60 stores this year with focus on Tier I, II and III cities which have been growth drivers for the company. It is also investing heavily to boost its presence online and offering heavy discounts for growth of their online sales.
 
“The company had set out with a growth target of over 15 per cent on last year sales of Rs 1,200 crore (approx $187.4 million). We are confident of achieving the projected volume growth,” Harkirat Singh, Managing Director told the Businessline.

“Over the years, our export versus domestic mix has been 20:80 and our long term target is to see that exports account for 50 per cent of overall sales. While the e-commerce was disruptive for us initially, the growth in e-commerce is providing a strong channel for Woodland,” he said.
 
In June, Woodland has invested Rs 100 crore (approx $15.7 million) to set up two manufacturing units in Haryana to launch canvas shoes and flip-flops as new product categories to its existing portfolio.
 
The footwear segment continues to be the main contributor to its revenue giving it 50 per cent of total business, followed by 30 percent from apparel and the remaining 20 percent comes from travel gear and accessories.
 
Woodland had announced earlier that it will foray into the innerwear and leisure market later this year with products like vests, briefs, trunks, inner T-shirts and shorts which is expected to further boost its revenue.
 
The brand currently has 600 company-owned stores and is present in over 5,000 multi- retail outlets across the country.
 
Woodland's parent company, Aero Group, is a well known name in the outdoor shoe industry since the early 50s. Founded in Quebec, Canada, it entered the Indian market in 1992.