<
In a first-of-its-kind move, Woodland Shoes is looking at foraying into
markets of China and Southeast Asia, according to the homegrown player
in the country's premium outdoor shoe segment.
"At present about 10 per cent of our revenues come from our foreign sales," says Harkirat Singh, MD, Woodland Shoes. "Over the next five years, we expect half of our revenues to come from abroad."
Woodland, which is unlisted, is the first Indian footwear player to be looking at creating an international footprint. Of the other players, only Hidesign, in the apparel and handbag space till now, has some international presence till date.
For the purpose of this foray, Woodland Shoes is already in talks with a couple of Chinese players. "We have finalised two of the leading players," reveals Singh. "We will soon close a partnership with one of them. The nature of the partnership is being worked out."
Woodland is already creating a distribution network for supply to the markets of China and Hong Kong. The ultimate foray will be a mix of sale through existing retailers and exclusive showrooms.
Among other options, the partnership being discussed translates into a knowledge sharing joint venture where the Chinese partner will use the Woodland platform to foray into India and vice versa.
Singh does not rule out a stake sale, saying that while for expansion in India, they have not yet needed major capital influx, expansion abroad might be different. "We are in talks with the Chinese partners," he says. "We might look at offloading some stake as well." The first exclusive Woodland store should be rolled out by October this year.
Source: http://www.business-standard.com/india/news/woodland-plans-to-foray-into-china-/465198/
"At present about 10 per cent of our revenues come from our foreign sales," says Harkirat Singh, MD, Woodland Shoes. "Over the next five years, we expect half of our revenues to come from abroad."
Woodland, which is unlisted, is the first Indian footwear player to be looking at creating an international footprint. Of the other players, only Hidesign, in the apparel and handbag space till now, has some international presence till date.
For the purpose of this foray, Woodland Shoes is already in talks with a couple of Chinese players. "We have finalised two of the leading players," reveals Singh. "We will soon close a partnership with one of them. The nature of the partnership is being worked out."
Woodland is already creating a distribution network for supply to the markets of China and Hong Kong. The ultimate foray will be a mix of sale through existing retailers and exclusive showrooms.
Among other options, the partnership being discussed translates into a knowledge sharing joint venture where the Chinese partner will use the Woodland platform to foray into India and vice versa.
Singh does not rule out a stake sale, saying that while for expansion in India, they have not yet needed major capital influx, expansion abroad might be different. "We are in talks with the Chinese partners," he says. "We might look at offloading some stake as well." The first exclusive Woodland store should be rolled out by October this year.
Source: http://www.business-standard.com/india/news/woodland-plans-to-foray-into-china-/465198/