Business Today

Sequoia-backed Wildcraft plans to expand further

Co founder Siddharth Sood said that Wildcraft is aiming for higher market share and to achieve this it is expanding its product offerings in clothing and footwear, too.

twitter-logo Venkatesha Babu        Last Updated: December 18, 2014  | 10:14 IST
Sequoia-backed Wildcraft plans to expand footprint
Picture for representation purpose only. (Source: Reuters)

Wildcraft, an outdoor gear manufacturer in which PE firm Sequoia had invested $12 million in December 2013, is looking to expand its national footprint, according to Gaurav Dublish, co-founder of the company.

"We currently sell in 120 exclusive stores (including 20 run by franchisees) and in over 2,500 multi-brand stores across 400 cities. We want to expand our reach even further", said Dublish.

Dublish was speaking at an event in Bangalore where Wildcraft unveiled a new brand identity.

"While the company already had a diversified distribution strategy that included modern trade chains, traditional multi-brand outlets, institutional partnerships, e-commerce portals, apart from its own stores, the push was to expand its reach further", he added.

While the company had focussed only on the domestic market till now, it would also look at exports in the near future", Dublish further said.

"Wildcraft, which posted revenues of Rs 250 crore last year, is aiming for higher market share in the $2 billion (Rs 12,600 crore) overall Indian outdoor gear market", Co-founder Siddharth Sood said.

"To do this, the company is expanding its product offerings in clothing and footwear", he added.

The company till now focussed on camping and hiking equipment like rainwear, rucksacks, duffel bags, back packs, tents and accessories.

"We are aiming for head-to-toe requirements of outdoor lovers. We have grown at a CAGR [compound annual growth rate] of 70 per cent over the last couple of years, which we expect to sustain or exceed in the next few years," Sood said.

Youtube
  • Print

  • COMMENT
BT-Story-Page-B.gif
A    A   A
close