Wildcraft India signs deal to manufacture rucksacks for Indian Army
The outdoor apparel brand Wildcraft India has signed a deal with the Ministry of Defence to manufacture rucksacks for the Indian Army and will begin production in 2020.
After five years of talks, Wildcraft India has officially signed up with the Indian Army to manufacture its rucksacks, the brand announced at a press meet to launch its new line of travel cases, ET Bureau reported.
“We have bagged a multi-million dollar order from the Ministry of Defence to make rucksacks for the Indian army,” said Wildcraft India’s co-founder Siddharth Sood at the press meet, ET Bureau reported.
“It is an unchartered territory but creating an ideal rucksack for an Indian jawaan who spends maximum time outdoors in challenging terrain will be good learning. The order will be executed next year.
“Our estimate is that the organised travel bag industry is about $2 billion [Rs 13,305.5 crore] in India, increasing at 7-10% CAGR [compound annual growth rate],” said Sood. “Outbound tourism is growing at a similar CAGR. Indian travellers are one of the highest spenders who like to equip themselves well before a journey.”
Wildcraft India launched 12 years ago as a travel accessories brand and launched in the Middle East two years ago. The business is based in Bengaluru and its investors include Flipkart Group and Sequoia Capital. The brand reported Rs 650 crore in sales in the 2019 financial year.
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