Woodland, the leading footwear and performance apparel brand, is expecting sales recovery in the current financial year, on the back of strong festive season sales.
Owned by the Aero Group, the brand plans to strengthen its offline network to boost sales and expects footfalls to increase post easing of pandemic-related restrictions across the country.
On way to completing 3 decades in Indian market next year, Woodland has over 500 company-owned stores and 5,000 multi-retail outlets across the country. It has plans to achieve sales of Rs. 2,500 crore (US $ 346.2 million) by the fiscal year 2025.
The company had achieved around Rs. 1,200 crore (US $ 163 million) in FY2019-20, whereas in the pandemic hit FY2020-21, the same was close to around Rs. 700 crore. Now it is reviewing offline retail strategy and planning to add more stores starting from next year.
Harkirat Singh, MD of the company told a news agency, “If the Diwali season goes well and our online partners like Amazon and Flipkart, who have big plans for the upcoming festive season, also do well, then the business will be back to normal and we will try to achieve the same target that we achieved in FY2019-20.”
Apart from offline expansion, the brand has witnessed strong sales from the e-commerce channels during the pandemic with online contributing 40 per cent to its sales and expects this trend to continue going forward.