Woodland to Invest . 100cr to Set up Facility, Open New Stores

NEW DELHI Footwear and apparel brand Woodland today said it will invest over . 100 crore in this fiscal to set up a new manufacturing unit at Greater Noida and open 60 more exclusive stores in the country. “We are commissioning a new unit for denim and woven garments at Greater Noida with an investment of about . 60-70 crore. The production is likely to start in the next 3-4 months,” Woodland Managing Director Harkirat Singh said. He said the company will also set up 60 new exclusive Woodland stores across India, with focus on Tier II and Tier III cities, entailing an investment of upto . 40 crore. Currently, the company operates over 300 exclusive outlets and also sells its products at over 400 multi-brand stores. “Almost 50% of the new stores planned would be large format spread across 10,000-12,000 square feet,” Singh said. Currently, the company owns or operates 10 manufacturing units in North India for outdoor shoes. It outsources production of fashion footwear range to Vietnam and China. For the current financial year, the company expects 30% growth to touch a turnover of . 800 crore. Woodland is betting big on online retail, Singh added. — PTI