Woodland eyes Rs 1,000 crore turnover in FY14
Mumbai: Outdoor adventure apparel and footwear-maker Woodland is aiming to take its turnover to Rs 1,000 crore this fiscal as it expands its retail presence in the country and adds more products to its portfolio.
The company has about 400 stores of its own and its products are available across more than 4,000 multi-brand points-of-sales.
"We open about 50-60 new stores every year and last year, we started 60 new outlets. Apart from bigger cities, people in smaller cities and towns also want to buy brands and we have a presence in these places too. We will continue to expand our presence across cities," Managing Director Harkirat Singh said.
This year, Woodland is looking at adding 60-70 stores, he added.
While 70 percent of Woodland's revenue is currently from tier I cities, the company is placing big bets on growth coming from tier II and tier III cities.
"Each store sees an investment of close to Rs 1.5-2 crore and so, the total investment this year would be around Rs 100 crore," Singh said.
Woodland registered a turnover of Rs 850 crore last fiscal and is now looking at reaching the Rs 1,000-crore milestone this year, he added.
"We are expanding our product portfolio to continue to cater to our target group -- youngsters -- in the 18-25 age bracket. We believe there is a lot of potential in women's line also and we are working on improving that as well," he said.
The company has recently entered the adventure gear space and has started retailing tents, sleeping bags and rucksacks among other products.