Woodland to add 30-40 stores each year; eyes 15 per cent revenue growth in FY18

Footwear and apparel brand Woodland is eyeing a revenue growth of 15 per cent in the current financial year.
According to a PTI report: Aero Club, manufactures and retailers of the brand, is also trying to popularise the hi-fashion formal luxury brand ‘Woods’ in India.
“Our revenue in the last financial year was Rs 1,200 crore from operations in India, Hong Kong, Middle East and CIS nations,” MD of Aero Club, Harkirat Singh was quoted by PTI as saying.
He said the topline would grow by 15 per cent this fiscal, despite a slump in sales in July and August due to implementation of the GST.
Singh said the company currently has 600 stores, mostly owned, and its products are also available in 5,000 multi-brand outlets.
“We plan to add 30 to 40 stores each year,” Singh was quoted by PTI as saying.
Nearly 15 per cent of the company’s business comes from e-commerce portals, he said.
On increasing the number of Woods stores in the country, Singh told PTI, “We opened two such stores in Delhi. Now, we are looking for space in Mumbai, Bangalore, Pune and Kolkata.”
To a query, he added the company would expand its presence in Tier-I and Tier-II cities through the franchise route.