Wood­land’s Woods to en­ter Pre­mium Seg­ment

Shoes & Accessories - - The Month That Was | Updates I India -

Footwear and ap­parel brand Wood­land is repo­si­tion­ing its sub-brand Woods as a sep­a­rate re­tail iden­tity fo­cus­ing on lux­ury and pre­mium seg­ment. Woods will fo­cus on leather footwear for women, for­mal footwear for men and an ac­ces­sories port­fo­lio, in­clud­ing bags, leather jack­ets and belts. Of­fer­ings will be priced ` 5,000-8,000.

Ac­cord­ing to Harki­rat Singh, Manag­ing Direc­tor, Aero Club, the par­ent com­pany of Wood­land and Woods, plans are afoot to come up with a range of prod­ucts, es­pe­cially for­mal­wear for both men and women. In­tro­duced seven years ago, Woods is into pre­mium of­fice footwear, while the mother brand of­fers out­door shoes and ca­sual wear. “The lux­ury and pre­mium mar­ket in In­dia is grow­ing. And the time is right to carve out a re­tail iden­tity for the brand, es­pe­cially af­ter the good re­sponse we got for the pi­lot project,” Singh said. Ac­cord­ing to Singh, Woods’ con­tri­bu­tion stands at 25 per cent of Aero Club’s ` 1,200 turnover in FY17. The share is set to in­crease to 30 per cent over the next cou­ple of years. While two stand­alone stores have come up in Delhi post the cre­ation of the sep­a­rate re­tail iden­tity, an­other 10-12 stores — at a pro­posed cost of ` 10-15 crore — are ex­pected to come up within this fis­cal across cities in­clud­ing Mum­bai, Pune, Lud­hi­ana, Ben­galuru and My­suru. All the stores will ini­tially be com­pany- owned. An ad­di­tional ` 10-15 crore will also be spent to­wards mar­ket­ing the brand. Ex­ist­ing large-for­mat Wood­land stores will be lever­aged to have a ‘shop-in-shop’ for­mat for the Woods brand. The com­pany has al­ready tied up with de­sign stu­dios in Italy, and is im­port­ing some of the of­fer­ings from Hong Kong, Tai­wan and so on, apart from mak­ing in In­dia.

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