Woodland to enter China and CIS
"We are already selling in Hong Kong. From there we want to enter in to China in this year. We may also enter into some parts of Europe such as CIS countries," Singh told reporters here. As the China is a big market for manufacturing, Woodland may think of outsourcing to that country at a later stage.
"There will be separate team for China. Initially products will be exported from India. Chinese market is much bigger than Indian market. It is growing very fast specially for youth related products," he explained. The company, which was originally founded in Canada and moved to India 20 years ago, aims to cloak Rs 1,000 crore turnover this year from Rs 730 crore last year.
Currently exports constitute around 25 per cent of the total revenues. As of now, 60 per cent revenue comes from shoes and the rest from apparels and other accessories, the MD said. "It will soon be 50:50 because the garment business is growing very fast. In the next two years the revenue mix will be 50:50," he said. Woodland plans open 60 new outlets in this fiscal. As of now it has 350 outlets across the country and nearly 4,000 retailers are selling the product, he added.