Wildcraft
File:Wildcraft logo.png | |
Type | Private |
---|---|
Industry | Retail |
Founded | 1998 |
Headquarters | |
Area served | Worldwide |
Key people | Gaurav Dublish & Siddharth Sood |
Products | Outdoor Clothing, Footwear and Gear |
Website | wildcraft |
Wildcraft is an Indian clothing and accessories company with its headquarters in Bangalore. The company's products are sold in over 200+ exclusive stores and 4,000 multi-branded stores in India and abroad.[1] The company was founded by Siddharth Sood and Gaurav Dublish.
History
Wildcraft's first product in the 1990s was a dome tent. The company shifted to manufacturing packs and associated outdoor gear and expanded to multi-terrain footwear and outdoor clothing.[2] In 2014, it rolled out an expanded range of gear including clothing and footwear,[1] hiring an additional 1,000 employees across its factories located in Bangalore.[3]
It entered the performance footwear and clothing industry in 2016 adding significant revenues.
During the COVID-19 lockdown in India, Wildcraft India diversified its product portfolio by making products like Personal Protective Kits (PPE).[4][5]
Operations
Wildcraft makes backpacks, rucksacks, camping and hiking equipment, among other things. The company's products are sold in 175+ exclusive stores and 4,000 multi-branded stores in India,[1] growing by 20-30 stores each year.[6] Wildcraft products are also available across Middle East & South Asian countries.[3][7]
Until March 2020, Wildcraft employed more than 3,700 people. Few months later, it scaled up its manufacturing facilities by collaborating with more than 60 factories through a hub and spoke model. By July, the company employed about 30,000 people.[8][9]
Finances
Earlier, Wildcraft was run as a hobby with limited commercial focus.[2] Under the management that has led the firm since 2008, it has pursued a strategy of expansion and increased revenue over 100x in less than a decade.[3] According to Dublish, the company grew at a compound annual growth rate of 75% from 2007 to 2012[2] and continued to grow annually at 50% till 2018 & is now pursuing a 25% revenue CAGR. In September 2013, Sequoia Capital, a California-based private equity firm, invested[10] ₹70 crore, giving it an enterprise valuation of about US$50 million.[6] Wildcraft clocked retail sales of ₹400 crore in FY 2017, and is looking at a total deployment of ₹350 crore, to achieve a revenue run-rate of ₹1,000 crore by 2020.[3]
References
- ^ a b c Babu, Venkatesha (18 December 2014). "Sequoia-backed Wildcraft plans to expand further". Business Today.
- ^ a b c Menon, Shyam G. (29 June 2011). "Hiking in uncharted territory". Business Line.
- ^ a b c d "Wildcraft to expand into Middle East, South East Asia markets". The Economic Times. 17 December 2014.
- ^ "Myntra partners Wildcraft to offer protective masks". The New Indian Express. Retrieved 15 November 2020.
- ^ Tewari, Saumya (27 May 2020). "Wildcraft India forays into PPE category, offers hazmat suits, face shields". mint. Retrieved 15 November 2020.
- ^ a b Dhamija, Anshul (17 December 2013). "Sequoia Capital invests Rs 70cr in Wildcraft". The Times of India.
- ^ "Wildcraft lokos to clock Rs 1,000 crore in sales by FY20". DNA India. 9 April 2017. Retrieved 3 September 2019.
- ^ Anand, N. (11 June 2020). "Wildcraft unveils COVID-19 gear, ramps up staff". The Hindu. ISSN 0971-751X. Retrieved 15 November 2020.
- ^ "Wildcraft plans to raise Rs 150 crore; targets Rs 1,000 crore revenues in FY21". Deccan Herald. 23 June 2020. Retrieved 15 November 2020.
- ^ "Sequoia: India". Sequoia Capital. Retrieved 26 January 2015.
- Use dmy dates from May 2018
- Use Indian English from May 2018
- All Justapedia articles written in Indian English
- Outdoor clothing brands
- Camping equipment manufacturers
- Companies based in Bangalore
- Indian brands
- 1998 establishments in Karnataka
- Indian companies established in 1998
- Manufacturing companies established in 1998