Wildcraft expects Rs 2,000 cr revenues

Wildcraft expects Rs 2,000 cr revenues

Bengaluru-based outdoor equipment major Wildcraft on Wednesday said that it expects its revenues to hit Rs 2,000 crore by 2020 from the current Rs 250 crore, on the back of robust expansion in its product portfolio and a new, refurbished brand identity.

Wildcraft, which began operations in 1998, has grown exponentially over 100 times between 2008 and 2014, the company claimed, adding that presently, it aims to transform from a mere outdoor equipment provider to an all-round head-to-toe outfitter.

The global outdoor and adventure industry stands at around $100 billion, while the nascent industry in India stands at a modest $2 billion, but is growing rapidly at a CAGR of 16.2 per cent, with the organised sector growing at 25 per cent.

According to Wildcraft co-founder Gaurav Dublish, “The outdoor industry is not very big in India. But the need to get outdoors for people, especially in the cities is rising... We as a brand are not short on ambition. Today, from rucksacks to jackets and tents to shoes and tents to shoes, Wildcraft products are available in over 120 exclusive and over 2,500 multi-branded stores across more than 400 key Indian cities.”

“Our diversified distribution strategy includes exclusive stores, modern trade chains, distribution to traditional multi-brand outlets, institutional partnerships as well as e-commerce portals,” Dublish added.

The company opened around 40 stores this year, and going ahead, it plans to open around 50-60 stores, each year.

Wildcraft has unveiled a new set of products and equipment across three categories namely, outdoor accessories, bags & gear and apparel & footwear, targeted at outdoor activities such as trail running, hiking and rock climbing, among others, with around 500 products being sold across the three categories. The company has also come out with a new logo.

Wildcraft has also envisaged enhancing its manufacturing capabilities. “We have a plant at Himachal Pradesh, besides three plants in Bengaluru, through which, we will be ready to enter newer markets such as the North-East, which is a haven for outdoor sport,” Wildcraft co-founder Siddharth Sood said, adding that in the next 6-18 months, the company will be foraying into the Middle-East and Southeast Asian markets.

In terms of investments in branding and foraying into new markets, Sood informed that the company did a round of equity last year and investment is going to be phased over a period of time, so there was no one large investment.

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