On Friday,Woodlandthe popular footwear and apparel brand announced that it will be launching a spanking new lineup of products for e-commerce portals and they can provide huge discounts on this new lineup. It is claimed that is move with defend its brick and mortar business from facing threats by the increasing trend of e-commerce.
Announcing this, Harkirat Singh, Managing Director at Aero Club stated that they will provide separate lineup of products for e-commerce websites to cater to the needs of customers who seek heavy discounts. He added that they will provide good quality products and notably, these would not be available at the retail outlets ofWoodland.
Woodland brand is promoted by Aero Club and their range of products is available via e-commerce portals such as Flipkart, Amazon, Snapdeal, Jabong, Myntra and others. These products are already available with discounts on them and sometimes they are sold with big discounts. The executive added that such discounts would ruin the interest of their outlets.
Notably,Woodlandachieves an overall business of 15 percent on its total turnover from the e-commerce portals. He added that there is a massive potential in the e-commerce industry as the youngsters prefer buying products online more than going to stores as this is more convenient. For this reason,Woodlandis hoping to witness a growth in its online business from 15 percent to 20 percent.
Woodlandis in plans to open around 60 to 70 new stores in the current fiscal year ending March 2015. Furthermore, it is also planning to reach a turnover of Rs 1,300 crore this fiscal, while its turnover for the last fiscal was Rs 1,000 crore. Besides opening its own stores, the footwear and apparel brand is also in plans to open franchisee stores for the first time and it is focusing on the tier III and tier IV cities for the same.