Aero Club to add 15 Woods store by year-end
Woods, a premium brand by the Aero Group is looking to strengthen its retail presence across India and will be opening 15 new stores by the year end.
The company will be investing around Rs 15 crore to Rs 30 crore ($2 to $4 million) on its store openings. It is expecting Woods products to contribute around 25 percent to the company’s revenue, which is expected to be around Rs 1,400 crore for the current fiscal.
For the financial year 2017-18, Aero Group had generated sales revenue of Rs 1,350 ($210.8 million).
“Though Woods products have been in existence for about a decade, only in the last 18 months that the company has given a push to this luxury lifestyle product. We will have Woods exclusive stores only in major malls and plan to open another 15 by year-end. Each store costs Rs 1-1.5 crore,” Aero Club Managing Director Harkirat Singh told BusinessLine.
“The Woodland brand is also growing, but the company expected Woods to contribute nearly 30 percent in the next couple of years,” he added.
Aero Group had entered the luxury segment in India last year with its subsidiary brand Woods. It currently has five exclusive stores in leading metros like Delhi, Chennai, Bengaluru, and Kochi.
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