Woodland to make investments to ramp up manufacturing, store counts
Footwear and outdoor gear brand Woodland is planning to invest around Rs 70 crore ($8.6 million) annually to increase its manufacturing capacity and store counts in the country.
The company plans to add 10 new stores before the end of the financial year 2023 with focus on metros and mini metros across India.
“The company would invest Rs 50-70 crore annually in capacity expansion and new store additions. We invest on average between Rs 2 crore and Rs 3 crore to build a 2,000 sq ft store. While we initially plan to open 10 locations, we’ll eventually revert to our previous pattern of adding 30–40 outlets annually,” Harkirat Singh, managing director at Aero Club (parent company of Woodland) told the Businessline.
Talking about the manufacturing capacity, Singh said, “The company can produce eight million pairs of shoes and clothing annually if the capacity of the current factories is used to its full potential. This is without building any additional plants. We are now using roughly 60 percent of our installed capacity, which we will ramp up operations to utilise our entire capacity.”
Woodland specialises in premium athleisure footwear designed for the outdoors and runs its ‘super-premium’ Wood label. The brand, which began in Canada, first entered India 25 years ago and retails through 500 stores with a presence in over 5,000 multi-brand outlets.
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