Wildcraft to add 50-60 stores in India by 2016, eyes overseas markets
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Even as global active lifestyle brands are rushing into India, home-grown outdoor gear brand Wildcraft has said it is eyeing opportunities to take its brand to West Asian and South Asian markets.
“We have designed our products keeping in view the local climatic conditions. West Asian and South Asian markets can well do with our kind of products. We are planning to venture into those countries with the distribution model,” Gaurav Dublish, co-Founder, Wildcraft, toldBusinessLine.
In India, Wildcraft has 120 retail outlets, largely company-owned and operated. “We plan to add 50-60 stores by 2016,” said Dublish, adding the investment outlay is expected to be about INR18 crore (INR180 million, USD2.8m). Wildcraft stores are typically 500-600 square feet.
Questions & Answers
Q.What is the primary expansion strategy for Wildcraft in West Asian and South Asian markets?
What is the primary expansion strategy for Wildcraft in West Asian and South Asian markets?
Wildcraft plans to enter West Asian and South Asian markets using a distribution model. This approach is based on their belief that their products are suitable for the local climatic conditions in these regions.
Q.How many new stores does Wildcraft intend to open in India by 2016?
How many new stores does Wildcraft intend to open in India by 2016?
Wildcraft plans to add 50-60 new stores in India by 2016. These new outlets will supplement their existing 120 retail locations, which are predominantly company-owned and operated.
Q.What is the estimated investment required for Wildcraft's planned store expansion in India?
What is the estimated investment required for Wildcraft's planned store expansion in India?
The projected investment outlay for Wildcraft's new stores in India is approximately INR 18 crore, which is equivalent to INR 180 million or USD 2.8 million. Each store typically covers an area of 500-600 square feet.
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