Tuesday, 25 June 2013

Woodland to expand footprint overseas

Footwear and apparel major, Woodland is looking at expansion in the overseas market. The company proposes to have its retail footprint in Brazil, Russia and Australia, besides other Commonwealth of Independent States (CIS) countries.

The company will also strengthen its presence in the west Asian and eastern European countries, besides expanding operations in China. However, unlike in India where the company retails through its own stores, its overseas business is being carried out through multi-brand stores and shop-in-shops. With this overseas expansion, the company is targeting a significant jump in revenue.

Talking to The Tribune, Harkirat Singh, managing director of Woodland Shoes, said the company was looking at investing Rs 100 to 150 crore. “Though a major portion of the investment will go into domestic expansion, where we are opening 60 company-owned stores this year, we will invest another Rs 80 crore for expanding our production capacities”.

He said, “We clocked a turnover of Rs 850 crore in 2012-13 and in the current financial year, we will cross the Rs 1,000-crore mark.”
http://www.tribuneindia.com/2013/20130624/biz.htm#6

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