05 July 2023, Mumbai
Woodland, a renowned lifestyle brand, has successfully navigated the challenges brought on by the pandemic and is now surpassing its pre-Covid sales figures. Despite a decline in revenue during FY20, FY21, and FY22, Woodland achieved a remarkable recovery in the March-ended quarter, crossing its pre-pandemic topline.
Bounce back
Harkirat Singh, the Managing Director of Aero Club, the parent company of Woodland, expressed confidence in their annual sales growth target of 10 to 15 percent.
As part of its revitalization plan, Woodland intends to open 25 to 30 new stores this year, focusing on potential locations such as malls and high-street stores. With 475 exclusive outlets and a presence in 4,000 multi-brand outlets, the brand aims to further consolidate its retail presence in urban centers, expanding its distributor network and online reach.
Robust retail operation
Woodland's larger format exclusive stores serve as testing grounds for new projects, and the successful ones are then extended to distributors and multi-brand outlets.
These exclusive stores contribute to nearly 40 percent of sales, while online sales, which experienced significant growth during the pandemic, make up around 30 to 35 percent. Harkirat anticipates that online channels could contribute up to 40 percent of total sales in the future.
Growing brand consciousness
Emphasizing the importance of brand recognition, Harkirat notes that consumers prefer branded products, and online platforms offer enticing deals. However, Woodland is cautious not to rely solely on any one platform, diversifying its presence across multiple channels to mitigate risks and adapt to potential changes in the market.
Surpassing Pre-Covid sales figures
Woodland's resilient recovery and strategic expansion plans position the brand for continued success in the post-pandemic era, capturing the hearts of customers in both physical and digital retail spaces.
