Woodland to embark on manufacturing and retail expansion
The investment for the expansion is estimated to be Rs 70 crore.
"This would be largely funded through internal accruals," Harkit Singh, managing director of Woodland said.
Currently, the company's manufacturing operations are spread across 15 units which produce 4.5 million pairs every year.
In addition, the company is also looking to expand its presence globally in the next year.
"We are looking to have a presence in 60 mutil brand outlets in China and Hong Kong. The retail market is extremely well developed in these regions and within the next couple of years, we are also contemplating to open our own stores in these regions," Singh said.
The company is hoping to close its books with Rs 850 crore in revenues this year, with exports accounting for 20% of the turnover.
Woodland is hoping to breach the Rs 1,000 crore mark next fiscal.
"The primary growth drivers would be increased retail presence locally as well as globally," Singh said. Nearly 60% of the company's business comes from footwear with apparel accounting for the remainder.