Woodland eyeing pre-pandemic revenue in FY 2023, plans to open 25-30 new retail stores, Retail News, ET Retail

Woodland eyeing pre-pandemic revenue in FY 2023, plans to open 25-30 new retail storesNew Delhi: Footwear and apparel brand Woodland aims to touch its pre-pandemic revenue of Rs 1200 crore in FY 2023, shared Harkirat Singh, Managing Director of Aero Club.

Aero Club is the parent company of Woodland. In FY 2021-22, the brand reported a revenue of Rs 900 crore.

Singh shared that e-commerce will play a crucial role in the brand’s growth adding that during COVID, online contributed to about 40 to 50 per cent of the company’s turnover. Going forward, he believes if offline sales pickup and online continues to perform the same, there will be a healthy combination of 60 to 70 per cent offline and 30 per cent online sales for the brand.

The footwear retailer plans to go back to its pre-pandemic strategy and open 25 to 30 new retail stores this year and gradually increase the number depending on how the market improves, said Singh. Before COVID hit, Woodland had over 600 exclusive brand outlets, over 40 of which were shut during the pandemic.

Jumping on the bandwagon of opening experience stores, Singh shared that the company plans to increase its store size to 2000 plus square feet to give consumers an experience of the products, fabric, and more. Currently, Woodland stores are spread across an average size of 1500 square feet.

Additionally, the retailer plans to introduce its apparel and fashion sub-brand Woods in its retail stores. Presently, the stores feature the brand’s collection of shoes and accessories.

Aero Group, known for its shoe brand Woodland, plans to focus more on its athleisure wear and apparel segment in the coming years to tap the growing opportunities in this category.

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