Betting big on its fashion lifestyle brand Woods, the footwear and adventure accessories major Woodland is planning to detach the brand and provide it a separate space. The Rs 250 crore trendy and luxury brand will now be given the 'much-needed' and 'timely' boost to come out of the Woodland's shadow.
As Harkirat Singh, the Managing Director of Woodland told to TOI, "Woods won't piggyback on Woodland any more. Woods conveys a philosophy which is quite opposite to Woodland's, which deals in casual-outdoor-adventure segment. As Woods as a brand has started to grow, we have decided to give it a push following 25 years' of Woodland's existence."
Elucidating on the plans for Woods, Singh said to open Woods outlets across Indian metros and then gradually spread it to overseas destinations. Woods will offer country-specific formal as well as casual footwear in its stores.
Woodland, owned by the Aero Group, has plans to launch 10 Woods stores in the current financial year. The company will invest Rs 30 crore in opening the stores, which will have an average size of 1,000 sq ft. Earlier, the company only ran its flagship Woodland stores, where it also stocked Woods products.
Before its standalone launch, the company has test-marketed the product separately as it is already earning over 25 per cent of the Woodland's parent firm Aero Club's revenue both via offline-online routes.
"India is becoming a big market for this fashion-cum-lifestyle segment, which has shown the just tip of the iceberg. Women customers of Woods have grown exponentially. Woods will exactly cater to this segment with its one-stop stores," added Singh.
According to the MD, Woods will bring in a new range of style and colour for the high-end market.
For overseas sojourn of Woods, Singh has picked known territories like Russia, China, Malaysia, Singapore, Canada and the UAE, where Rs 1,500 crore footwear and adventure accessories major has its presence. Recently, Woodland has also set sights on African shore, too.
The company also aiming at raising its exports' contribution to the total turnover to 25 per cent by next year, up from 15 per cent, with the expansion in overseas markets.
Woods sells at least 15 per cent of its products through e-tailing. "Besides all common ecommerce platforms, we are planning to come up with separate e-tail site for Woods," he said.