Woodland eyes Rs 2,500 crore sales by 2025
Footwear and apparel brand Woodland, owned by Aero Club, is looking to expand its retail presence across India, to achieve sales of Rs 2,500 crore ($346.2 million) by the fiscal year 2025.
The company is betting big on tier 2, 3 cities to drive growth and plans to open around 30 to 40 stores every year.
Along with its retail expansion, Woodland will also be strengthening its online network as it looks to adopt the omni-channel strategy to meet its sales target.
Woodland presently gets around 15 percent of its sales through e-commerce, while the remaining comes from the retail channel, with shoes and apparel contributing the highest with 50 percent and 35 percent, respectively, to its overall sales.
"Our topline was around Rs 1,250 crore (FY19) and is growing by 10 percent every year, which is quite healthy and sustainable. We expect to continue the same rate of growth for the coming 4-5 years to double the turnover by FY25," Aero Club managing director, Harkirat Singh, told PTI.
"Now we are also moving to tier 2 and 3 cities. The competition in the segments is also growing, which is expanding the market,” he added.
Woodland entered the Indian market in 1992 and currently has over 600 company-owned stores and 5,000 multi-retail outlets across the country.
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