Wildcraft targets Rs 1000 crore revenue by 2020, to add 50 stores each year
Wildcraft, an outdoor clothing and accessories brand is targeting revenue of Rs 1000 crore (approx $ 155 million) by the year 2020 as it plans to expand retail presence in India and abroad coupled with diversification of its product portfolio, said a top company official.
Wildcraft has been growing at a CAGR of 35-40 percent every year and expected to generate revenue of around Rs 500 crore (approx $ 77.5 million) for the current fiscal as compared to the Rs 400 crore (approx $ 62 million) it reported in the last financial year.
To fuel growth and improve margins the company is looking to expand its retail presence across the country and in the overseas market by opening 40 to 50 stores every year. The company has earmarked a budget of around Rs 14 crore (approx $ 2.2 million) per year on its retail expansion.
Accessories, clothing and footwear are three of the major contributors to the revenue of Wildcraft and the firm is looking to further expand its product portfolio by entering the wearable segment for future growth.
"We will be an Rs 500-crore brand this year. We are targeting Rs 1,000 crore by 2020 and are on track for that," Wildcraft co-founder Gaurav Dublish was quoted as saying by news agency PTI.
"We have significantly added to the clothing and footwear performance line and they are doing reasonably well, contributing 25-30 per cent of our business overall now," he said, adding the segment will contribute Rs 150 crore to the total revenue this year, which was similar to the total turnover in 2014.
"We are looking at adding around 40-50 own stores on an annual basis. The stores will be across the large cities and small towns. Over the next five years, we should be present in 100 cities with exclusive stores," Sood said.
Wildcraft currently operates around 175 exclusive outlets across 65 cities in India and is also present in 5,500 points of sales across 550 cities. The brand is also available online on leading e-commerce portals like Myntra, Jabong, Flipkart and others.
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