Woodland to open first independent outlet in Hong Kong
Dec 27, 2013
Footwear and apparel brand Woodland said it will open its first independent outlet in Hong Kong and a warehouse facility in Dubai, even as it looks to become a Rs 1,000 crore brand in current fiscal.
On domestic front, Aero Group promoted flagship brand will also add 60 more outlets, involving capital outlay of about Rs 100 crore, in next one year.
“We will soon set up our first independent outlet of about 1,000 square feet in Hong Kong,” Woodland Shoes, MD, Harkirat Singh said.
Woodland brand is already available at about 50 multi-brand outlets in Hong Kong, he said.
Besides, Woodland has also decided to set up a first warehouse facility in Dubai with an aim to cater to Middle East countries. “This warehouse facility will address demand for footwear and apparels in Middle East countries,” he said.
To further penetrate into domestic market, Woodland will open company owned 50-60 outlets in metro and tier-II and tier III cities in next one year.
“There is a potential for opening outlets in metro cities and smaller cities like tier-II and tier III cities,” he said. Singh said for opening an outlet requires an investment of Rs 1.5 to Rs 2 crore.
Woodland has about over 500 outlets across the country, witnessing a growth of 20 per cent per annum in its topline. “We clocked sales of Rs 850 crore in last fiscal and in current fiscal, we are targeting turnover of Rs 1,000 crore,” he said.
Footwear accounts for 60 per cent in total sales while rest is contributed by apparels and acessories.
Unveiling its new winter collection, Singh said the company has launched its innovative collection of jackets, priced at Rs 15,000 each.
“The jackets are equipped with special transmitter. The product is of uptmost utility in cases of emergencies like someone getting trapped during snow avalanches, since the device sends signals to the rescue operation group. It can help in rescuing people who are stuck in snow up to 30 meters,” he said.
Besides, Woodland also launched warm-grip shoes designed to prevent people from frostbites in extremely low temperature. “These shoes are designed to generate active heating to the feet and keep warm even when temperature is as low as -20 deg C,” he said.