Wildcraft: A homegrown brand with international standards!
There are limited players and brands in India that are currently targeting the outdoor gear segment. Most of them are foreign players, who have started entering the market now. They are borrowing from their catalogue developed for a very different problem set (cold, modern infrastructure, etc.) with limited price value mix. In Sportswear, there are players like Nike, Adidas, Puma, Decathlon, Reebok & in Travel gear, Samsonite, VIP are players in adjacent product lines. In Outdoors, there’s Columbia which has some presence in India. Interestingly, given the rise of women outdoor enthusiasts, there has been growth in the women’s category as well. This understandably leaves room for innovative and strong players to come into play. Read On...
Bangalore-based Wildcraft, the India-born transnational outdoor & adventure active lifestyle goods company, is doing just that- tapping this fast growing market aggressively. Their move is all the more justified as the outdoor gear, footwear & active sportswear in India is already estimated to a $3bn industry and has been growing at 40 per cent+ CAGR over the last 5 years.
Wildcraft is looking at having 200 retail outlets next fiscal and 300 stores by 2021. The Bangalore-based company will be spending nearly Rs 350 crore by 2021 for executing its expansion plans and various marketing initiatives, top company officials said.
“We will continue with our retail strategy of adding a minimum of 30 offline outlets every year in tier 1, 2 and 3 cities across India. We will cross 200 retail outlets next fiscal. By 2021, we are looking at 300 stores. We are aiming to be present in Tier 2 & 3 markets to ensure outdoor enthusiasts & travellers have access to our products,” said Gaurav Dublish, co-founder, Wildcraft.
The company at present, owns 160 exclusive brand outlets and sells its products through over 4500 multi branded stores across 550 cities including Tier 2 & 3 and 750 SIS (Shop in shops). Incidentally, the company has seen a growth across all our categories, especially outdoor apparel & footwear and in Menswear.
The company, which notched up a retail sales revenue of Rs 400 crore in Y 2016-17, has reasons to be optimistic about reaching a topline of Rs 1000 crore over the next three years, if its expansion plans are properly executed.
Wildcraft has ambitious overseas plans as well. The fledgling brand already has been able to establish its footprint across tropical countries in ME & SEA. While in India it has taken us over a decade, in new markets our entry and distribution has been bolstered from our learnings in India and we are quicker at forming key relationships in markets of choice. Apart from India, Wildcraft today has its footprint across more than 11 countries across Middle East & South-East Asia including UAE, Saudi, Oman, Qatar, Kuwait, Bahrain, Nepal, Sri Lanka & is in the process to have its presence in Africa & Europe. The company stepped out of India and started in the Middle East first. It has then started in Bangladesh, Sri Lanka, Nepal and few other South East Asian countries. In Kathmandu, it has its own store and plans to open another one there. In February, it did its first tie-up in Europe. From the revenue side, 5 per cent of its business comes from exports at present, he said.
When it comes to e-tailing, online sales contributes around 12 per cent of the sales at present, while this year the company is expecting it to be slightly higher at 14-15 per cent. In the Rs 1,000 crore retail sales plan by 2021, online sales is expected to contribute above 15 per cent. Wildcraft is also innovating across categories to bring in newer offerings like waterproof shoes, vented travel-wear shirts and suspended back-system rucksacks.
“Unlike foreign players, doing the manufacturing locally helped us understand our products and designs better. And being able to generate employment for people this way gives us a big high. Importantly, basis our roots we built the brand with a focus on the Outdoors ethos. Making product lines that are functionally superior that helps equip people to embrace the unexpected, the uncertain & assists them to be ‘ready for anything’. We want to be known as a head to toe outfitter brand that caters to every need of an individual when they step outdoors,” said Dublish. At present, Wildcraft operates two manufacturing units, one at Bangalore and the other in Solan, Himachal Pradesh.
- Debhota Mukherjee (TradeBriefs Bureau) -
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