Jun 14, 2016
Wildcraft targets Rs 1,000 crore sales in 4 years
Jun 14, 2016
Riding high on impressive sales, outdoor apparel and equipment maker Wildcraft is looking to expand its offerings and investing Rs 300 crore to fund overseas expansion and strengthen its network in India while it targets a sales revenue of Rs 1000 crore over the next four years..
"Our aim is to have a sale of Rs 1,000 crore in the next three to four years. We did around Rs 300 crore last year and we are looking at doing Rs 400-450 crore this year," Wildcraft co-founder Gaurav Dublish told a news agency.
In order to achieve the target, Dublish said the Bengaluru-based company is focusing on strengthening its sales and distribution network and to expand its product portfolio by adding new categories like footwear.
At present its range of outdoor products includes backpacks, tents, jackets and raincoats among others.
Dublish’s partner Siddharth Sood said they were looking at a total investment of Rs 300 crore half of which had been procured already. A privately held company, Wildcraft had raised its first equity fund through PE firm Sequoia in 2013.
The firm aims to open 500 exclusive brand stores (EBOs) in India by 2020, up from 140 at present, and double the number of points of sales to touch 8,000. It is also planning to make forays in the Middle East, South East Asia and in neighbouring countries like Sri Lanka and Nepal.
Wildcraft has presence in 550 cities and towns in India through nearly 4,000 point of sale and 140 EBOs in 65 cities.
The company has taken the e-commerce route, in Singapore and is looking at all channels of distribution, including its own brand stores in these overseas markets. "Our next challenge is how do we evolve and become a global brand made in India. That's what we will be aiming to achieve," he said.
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