Footwear and apparel player Woodland has said it will open exclusive stores in selected foreign markets later this year.
The home-grown firm is in advanced stages of negotiations in some markets like the Middle East, South-East Asia and Sri Lanka for selecting local franchise partners and said it will have three to four exclusive outlets abroad by the year-end.
“We are on the verge of concluding negotiations and opening our first exclusive outlets in overseas markets. By end of 2010, we will have at least a total of 3-4 outlets overseas. The company will be using the franchise route for its international expansion. Different countries follow different rules regarding investment in retail business. In such a situation, franchise partnership is a good option. Besides, that way the local partner makes the investment,” said the top Company officials.
Woodland is present in over 600 multi-branded outlets in the Middle East, Singapore and Thailand. Woodland has 350 exclusive stores across India, besides presence in over 3,000 multi-branded outlets.