Wildcraft

Wildcraft is an Indian outdoor gear, footwear, clothing and travel accessories company with its headquarters in Bangalore. The company's products are sold in over 200 exclusive stores and 5,000 multi-branded stores in India and abroad.[1] The company is led by its co-founders Gaurav Dublish and Siddharth Sood.

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

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 ventured into technical clothing in 2015, into performance footwear in 2017 & launched an innovative line of travel cases in 2019. Between 2015 and 2018 Wildcraft developed a 90-liter technical rucksack for the Indian army, won the contract and supplied it to the armed forces from 2020 onwards. In 2020 Wildcraft developed a line of personal protection gear (respirators and Hazmat suits) and became one of the world's largest lifestyle brands marketing this during the Covid era.

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 in the Middle East and 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

Wildcraft was started by a group of outdoor enthusiasts and run initially as a hobby with a limited commercial focus.[2] Under the leadership that has led the firm since 2008, it pursued an expansion strategy 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 run-rate of ₹1,000 crore by 2020.[3]

References
  1. Babu, Venkatesha (18 December 2014). "Sequoia-backed Wildcraft plans to expand further". Business Today.
  2. Menon, Shyam G. (29 June 2011). "Hiking in uncharted territory". Business Line.
  3. "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. 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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