Thanks to ‘revenge-buying’, India’s leading footwear and apparel brand Woodland has closed FY22 with Rs. 1,000 crore revenue and is further expecting to grow over 20 per cent. Out of total revenue of the company, 25 per cent is from apparel.
Harkirat Singh, company’s promoter and MD, told PTI that the company is also expecting to bag orders from the Defence Ministry to make special-purpose boots for the soldiers. It has already submitted samples, adding these boots will be made in technical collaboration with the American company Polartech.
Owned by Aero Club, the brand has set a target of crossing Rs. 1,200 crore this year or clawing back to the pre-pandemic sales this fiscal as there is a lot of revenge-buying happening ever since the pandemic scare has ebbed.
The company sells premium and high-quality products through 500 company-owned-and-company operated exclusive stores and over 5,000 multi-brand retailers.
Almost 50 per cent of the sales comes from these exclusive stores, 20-25 per cent from exports primarily to the UAE and other MENA markets, South Africa, Russia and Canada and the rest from other retailers.
Prior to the pandemic, the company had 600 exclusive stores and will be adding 20-25 this year. Since the pandemic, around 35 per cent of sales have come online, which was under 10 per cent before the pandemic.