Wildcraft

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Wildcraft
TypePrivate
IndustryRetail
Founded1998
Headquarters
Bangalore, Karnataka, India
Area served
Worldwide
Key people
Gaurav Dublish & Siddharth Sood
ProductsOutdoor Clothing, Footwear and Gear
Websitewildcraft.com

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 Solan, Visakhapatnam and 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[]

A Wildcraft store in Chennai

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[]

  1. ^ a b c Babu, Venkatesha (18 December 2014). "Sequoia-backed Wildcraft plans to expand further". Business Today.
  2. ^ a b c Menon, Shyam G. (29 June 2011). "Hiking in uncharted territory". Business Line.
  3. ^ a b c d "Wildcraft to expand into Middle East, South East Asia markets". The Economic Times. 17 December 2014.
  4. ^ "Myntra partners Wildcraft to offer protective masks". The New Indian Express. Retrieved 15 November 2020.
  5. ^ Tewari, Saumya (27 May 2020). "Wildcraft India forays into PPE category, offers hazmat suits, face shields". mint. Retrieved 15 November 2020.
  6. ^ a b Dhamija, Anshul (17 December 2013). "Sequoia Capital invests Rs 70cr in Wildcraft". The Times of India.
  7. ^ "Wildcraft lokos to clock Rs 1,000 crore in sales by FY20". DNA India. 9 April 2017. Retrieved 3 September 2019.
  8. ^ Anand, N. (11 June 2020). "Wildcraft unveils COVID-19 gear, ramps up staff". The Hindu. ISSN 0971-751X. Retrieved 15 November 2020.
  9. ^ "Wildcraft plans to raise Rs 150 crore; targets Rs 1,000 crore revenues in FY21". Deccan Herald. 23 June 2020. Retrieved 15 November 2020.
  10. ^ "Sequoia: India". Sequoia Capital. Retrieved 26 January 2015.
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