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Friday, 22 July 2011 |
India’s top footwear and apparel brand Woodland plans to
invest about Rs 70 crores this fiscal to set up a new manufacturing unit at Greater Noida and Rs 30 crores to open 60 more exclusive stores in the country. The Greater Noida unit will produce denim and woven garments. Production is likely to start in the next 3-4 months. The stores will be opened mainly in Tier II and Tier III cities and about half of them would be spread across 10,000 to 12,000 sq. ft. The idea behind having big stores is to make as much an impact as possible and raise curiosity and interest. Currently, the company owns 10 manufacturing units in North India for outdoor shoes. It outsources production of fashion footwear range to Vietnam and China.
Woodland feels that small towns are buzzing with retail activity and that there has been a huge change in the retail landscape and consumer attitude in the past two or three years. Currently, the company operates over 300 exclusive outlets and it also sells at over 400 multi-brand stores. For the current financial year, the company expects a turnover of Rs 800 crores. In the next two years, the brand expects online sales to contribute 10 per cent to its total turnover. |
