Woodland aims at 15% revenue growth in FY17

In order to meet the growing demand, Woodland also plans to substantially increase manufacturing capacities at its units located in Himachal Pradesh and Uttarakhand.

By: PTI | Bhubaneshwar | Published:September 4, 2016 4:59 pm

Buoyed by the turnover rising to Rs 1,100 crore in 2015-16, leading outdoor gear brand Woodland aims at 15 per cent growth this year and has plans to raise manufacturing capacity and open up to 60 new stores.

“While growing steadily, we recorded a turnover of Rs 1,100 crore in 2015-16 with around 12 per cent profit growth. The company targets to increase the turnover by 15 per cent this year,” said Woodland’s Managing Director Harkirat Singh.

Stating that Woodland is doing extremely well across the country, Singh said during an interaction with PTI that a wide array of its products are also being exported and the company has a vast network abroad.

While Woodland now operates with a chain of over 600 exclusive stores along with presence in over 5,000 multi-retail outlets in the country, plans are afoot to open 50 to 60 new stores in different states this year, he said, adding each new store involves an investment of around Rs 1.5 crore.

In order to meet the growing demand, Woodland also plans to substantially increase manufacturing capacities at its units located in Himachal Pradesh and Uttarakhand, Singh said.

Concrete steps are also being taken to strengthen warehousing facilities and network of distributors in a systematic manner, the MD said, adding the business is picking up considerably in states like Odisha, West Bengal, Bihar, Jharkhand, Guwahati and Meghalaya.

Regarding operations abroad, Singh said Woodland has set up offices and warehouses in Hong Kong, Moscow and Dubai to cater to the requirements of countries in different regions as business is growing everywhere.

The company also has a strong network of distributors abroad as exports account for around 15 per cent of its turnover, with the gulf countries attracting more products.

Regarded as leading manufacturers of extreme weather outdoor gear and outer wear, the brand is present globally in over 40 countries, said Singh.

Though footwear remains the flagship segment of Woodland, the share of apparels and garments has been witnessing steady growth accounting for around 40 per cent of the sales, he said.

Stating that business through e-commerce is also growing, Singh said around 10 per cent of sales is done through this mode. Besides its own portal, Woodland has entered into tie-ups with major players in e-commerce channel.

Describing research and development as an important component, the Woodland MD said the company has partners in areas like technology, fashion and design to churn out products in keeping with changing situations.