Woodland to grow by decently this year: Harikirat Singh, MD
23 May 2022, Mumbai:
Revenge shopping will help homegrown footwear and apparel brand Woodland to grow over 20 percent and claw back to the pre-pandemic levels with a top line of over Rs 1,200 crore this fiscal, says Harikirat Singh, Promoter and Managing Director.
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The New Delhi-based company -- which entered the country 25 years ago, is the market leader in the category, selling over 5 million pairs annually.
Owned by Aero Club, the privately-held Woodland closed FY22 with Rs 1,000 crore in revenues. The company sells its footwear mostly in premium athleisure range for outdoors, accessories -- including apparel and deos and men's personal wears through Woodland, and super-premium Wood labels through 500 company-owned-and-company operated exclusive stores and over 5,000 multibrand retailers.
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Almost 50 percent of the sales come from these exclusive stores, 20-25 percent from exports primarily to the UAE and other MENA markets, South Africa, Russia, and Canada' and the rest from other retailers, Singh said.
Before the pandemic, the company had 600 exclusive stores. It plans to add 20-25 stores this year.
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