Apparel major Woodland is targeting around Rs 1,000 crore in turnover next fiscal and will be looking at expanding presence in tier-II and -III cities, a top company official said on Friday. “Pan-India, 30 percent of new stores of Woodland will be in tier-II and tier-III cities,” Woodland Worldwide, managing director, Harkirat Singh said.
However, since many malls are coming up in metro cities, bigger cities cannot be ignored, he said. “In the past two to three years, we have seen the smaller towns growing. We will keep the balance between smaller towns and big cities,” he said. Woodland has 370 stores nationwide and another 4,000 retailers selling Woodland products.
The turnover in 2011 was Rs 700 crore and by March 2013, it would touch Rs 800 crore, he said. “Next fiscal, the target we are looking is close to Rs 1,000 crore,” he said.
In Kerala, Woodlands has 15 stores and another 8-10 are in the pipeline. Kerala’s commercial capital Kochi will have three more stores, Thiruvananthapuram well get one more store and a new one would be opened at Kozhikode. New stores are to be opened at Thodupuza, Thalassery, Perinthalmanna, Kottayam and Alapuzha.