Woodland aims to double sales to Rs 2,500 cr by FY25
PTI, Mar 1, 2020, 4:44 PM IST
New Delhi: Footwear and apparel brand Woodland, is expecting to double its sales in the next five years to around Rs 2,500 crore, driven by retail expansion, a top company official said.
The company, which is presently operating around 600 retail stores in around 250 cities, mostly owned by it, plans to add around 30 to 40 stores every year mostly in small cities.
“Our topline was around Rs 1,250 crore (FY19) and is growing by 10 per cent every year, which is a quite healthy and sustainable,” Aero Club Managing Director Harkirat Singh told PTI.
Aero Club, maker of Woodland & Woods, expects to continue the same rate of growth for the coming 4-5 years and expects to double the turnover by FY25.
Besides, Woodland, which presently gets around 12 to 15 per cent of its sales through e-commerce, from its own website and channel partners, expects significant growth in this space in the coming years.
As part of its retail strategy, Woodland has adopted the omnichannel strategy by connecting, its offline sale network with its online sales channels.
We have both footwear and apparel growing very fast. We have expecting good growth from both the categories. Besides, we have launched many new products such as accessories, backpacks these will also contribute to the growth,” he said.
Presently, Woodland gets around 50 per cent sales from shoes, 35 per cent from apparels and rest from accessories and others.
Woodland has a presence in overseas markets such as Russia, the Middle East region, Africa and the Far East and plans to expand its network further.
The company, which had started in metros and main cities is also now moving towards small cities.
Now we are also moving to tier II & III cities, he said adding the competition in the segments is also growing, which is expanding the market.
The company said it has a separate line of products for the online channels, which operates mostly through discount-driven sales model.
In our stores, we sell more premium products and do not offer that much of discounts. It works both ways. More premium customers are coming to our stores, whereas first-timers are buying from online, he said.
The company presently has around 15 manufacturing units and most of them are in the North region in Himachal Pradesh, Uttranchal, Haryana, Noida and Delhi.
Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.
Top News
Related Articles More
Sensex, Nifty fall over 1 pc, snap two-day rally ahead of US Fed interest rate decision
SC orders liquidation of grounded air carrier Jet Airways’ assets
Home-cooked meals become dearer in October on costlier vegetables
Sensex, Nifty surge over 1 pc on heavy buying in IT stocks as Trump set to win US polls
Das says incoming data on GDP growth mixed but positives outweigh negatives
MUST WATCH
Latest Additions
Felling of trees: What is being done to restore Delhi Ridge? SC asks DDA
Kinnigoli: Truck carrying red stone collides with Auto-Rickshaw; driver injured
UP govt to install 150,000 toilets for Maha Kumbh, set up paying guest facilities
Kavoor Police arrest two notorious cattle thieves
Udupi: Unidentified body found near Bailkere’s Vidhyodaya School
Thanks for visiting Udayavani
You seem to have an Ad Blocker on.
To continue reading, please turn it off or whitelist Udayavani.