Woods to enter apparel segment, plans to open six stores in 2019
today Jun 12, 2019
Aero Club’s premium brand Woods is looking to enter the apparel market in India with the launch of formal and semi-formal wear range for both men and women this year.
The company will also be investing around Rs 60 ($8.7 million) to Rs 72 crore on expansion of its retail presence by opening up standalone stores for Woods.
Aero Club had entered the luxury segment in India last year with its subsidiary brand Woods. It currently sells footwear for men and women. For the fiscal year 2018-19, Aero Club had reported sales of Rs 1,250 crore with Woods contributing around Rs 250 crore to the company’s overall revenue.
“Plans are afoot to expand the brand Woods as a complete lifestyle one by adding formal and semi-formal wear range for both men and women. Woods found traction as a standalone retail entity focussed on premium formal and casual footwear. We would now like to extend it to apparels,” Harkirat Singh, managing director at Aero Club told BusinessLine.
“Woods will be expanded as a separate retail entity with standalone stores. At least six stores, all company-owned-and-company-operated, are planned by the end of this year at a cost of Rs 10-12 crore. These stores will be set up in malls with focus on Tier-I cities, or those which has a high purchasing power,” he added.
Woods currently has 10 standalone stores across Delhi, Bengaluru, Kerala, Hyderabad, Chennai, Patna, and Mumbai.
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