Woodland eyes return to pre-pandemic sales performance this fiscal; to expand offline stores

By: |
September 19, 2021 1:00 PM

After the pandemic, the company is also witnessing an increased demand for its fitness range of products as people have become conscious about their health after the pandemic.

Woodland is also now reviewing its offline retail strategy and is planning to add more stores starting from next year.

Leading footwear and performance apparel brand Woodland is expecting to return to its pre-pandemic sales turnover in the current fiscal, helped by festive season demand push over the next few months, a top company official has said.

Woodland, which closed around 40 stores since the pandemic broke out, is now considering adding new stores in its sales network as the company expects customers walking back to physical stores as the vaccination paces up.

As per its sales strategy, the company said it will continue to focus on both offline and online channels.

In the wake of pandemic and subsequent restrictions on people’s movement, Woodland’s sales from e-commerce channels have spiked, and the segment now contributes almost 40 per cent to its total sales.

Though, Woodland expects this trend to continue but e-commerce contribution in the overall sales of the company are expected to come down as there would be some rationalisation as offline stores will bounce back as the threat of the pandemic recedes.

“…If the Diwali season goes well and our online partners like Amazon and Flipkart, they have big plans for upcoming festive season, if those do well the business will be back to normal and we will try to achieve the same target that we achieved in FY 2019-20,” Aero Club Managing Director Harkirat Singh told PTI.

Aero Club is the parent company of brands – Woodland and Woods.

“We had achieved around Rs 1,200 crore in FY 2019-20 and in (the pandemic hit) FY 2020-21, we were close to around Rs 700 crore because of the Covid period,” he added.

Woodland is also now reviewing its offline retail strategy and is planning to add more stores starting from next year.

“We will once again review the thing beginning next year, by starting opening the new stores,” said Singh adding “after shutting down 30-40 stores, we are close to 500 now, earlier it was around 540 stores”.

Like other companies in the segment, Woodland is also witnessing an increase in demand for casual products as people are mostly confined at their homes after pandemics and working from home only.

“We are doing mainly outdoor products… we see the requirement of our customer normally when they travel or are on track or something like that.

“During the pandemic, we brought a new line of products. There was a demand for people, who wanted comfortable shoes because they were not going out during the pandemic at a lower price-point. We have brought in these products in our portfolio and it is good because we could expand our portfolio to that extent…,” Singh said.

After the pandemic, the company is also witnessing an increased demand for its fitness range of products as people have become conscious about their health after the pandemic.

“… for people who are into fitness and all, such products are really growing… It has changed the fitness regime and this category is going to grow and if the category grows, then this will be in our benefit,” he said adding “we have already seen a lot of demands in this”.

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, Check out latest IPO News, Best Performing IPOs, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1Explained: How MSMEs in electrical, electronics manufacturing are impacted due to high commodity prices
2Discoms need to pay dues on time: Union Minister RK Singh
3Relief package: Bharti Airtel accepts moratorium on AGR, spectrum payments