Bengaluru-based outdoor gear and trek-travel apparel firm Wildcraft India recently bagged a multi-million dollar order from the country’s defence ministry to make rucksacks for the Indian Army. The order will be executed next year, Siddharth Sood, co-founder of the 12-year-old company, said while announcing the launch of a new category of travel cases.
The organised travel bag industry is estimated to be worth about $2 billion in India, increasing at a 7-10 per cent compounded annual growth rate, Indian media reports quoted Sood as saying.Bengaluru-based outdoor gear and trek-travel apparel firm Wildcraft India recently bagged a multi-million dollar order from the country's defence ministry to make rucksacks for the Indian Army. The order will be executed next year, Siddharth Sood, co-founder of the 12-year-old company, said while announcing the launch of a new category of travel cases.#
Wildcraft clocked ₹650 crore sales by growing 15 per cent during the year ended March 2019.
With the recent launch of the trolley category, Wildcraft is looking to increase its CAGR from 20 per cent to 25 per cent by the end of this fiscal.
About two-fifths of the company’s revenue comes from the southern states. Two years ago, it expanded overseas to the Middle-East market which currently accounts for nearly 5 per cent of its earnings.
Fibre2Fashion News Desk (DS)
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