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Woodland expects Rs 10 billion turnover in FY'14
Jul '13
Indian outdoor adventure apparel maker Woodland aims to take its turnover to Rs. 10 billion in the current fiscal year.
The apparel company plans to expand its retail presence in the country and add more products to its portfolio.
The company presently has 400 stores of its own and its products are also available in more than 4,000 multi-brand stores across the country.
Mr. Harkirat Singh, managing director of Woodland, said the company opens 50-60 new outlets every year and in 2012 managed to open 60 new outlets, and this year Woodland is expecting to open 60-70 stores in big and small cities, Economic Times reported quoting PTI.
The brand has a presence in bigger as well as smaller cities and would continue to expand across the country, Mr. Singh added.
The apparel company’s 70 percent revenue currently comes from tier I cities, but the firm expects to generate more income from tier II and tier III cities after opening new stores.
Mr. Singh said that each Woodland store sees an investment of approximately Rs. 15-20 million and the current fiscal year’s total investments to open these stores would be Rs. 1 billion.
The company is planning to expand its product portfolio to cater to its target group which is youngsters between the age group of 18-25, he added.
Woodland registered a turnover of Rs. 8.5 billion last fiscal year and aims to take the turnover to 10 billion in the current fiscal year.

Fibre2fashion News Desk - India

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