Indian footwear and apparel company Woodland is planning to expand its retail network in the as a plan to double the store count to 1000 in the next five years. Woodland will invest INR500 crore for this expansion and has also set a target of INR2500 crore (INR25 billion, USD404.2 million) revenue by 2020 from 1300 crore in 2014-15.
"We are targeting to have 1,000 stores by 2020. The company is adding between 50 to 60 new stores every year. We are planning to double our growth in the coming year. We would have an investment of INR400 to INR500 crore in next five years, says Harkirat Singh, managing director Woodland.
It has a network of around 500 stores spread in 250 cities and is now focusing to expand in East and North-East regions.
(Source: Business Standard )