Wildcraft India Ltd. - Comprehensive Analysis Report

Summary

Wildcraft India Ltd. (WIL), founded in 1998, is a leading Indian manufacturer and distributor specializing in head-to-toe products for the trek-to-travel market. The company's mission is to inspire outdoor journeys while promoting sustainability and responsible adventure. Wildcraft provides versatile, multi-functional, and weather-resilient products for travelers and backpackers, serving over 5 million customers annually, with sales exceeding USD 100 million.

1. Strategic Focus & Objectives

Core Objectives

WIL aims to engineer performance-led quality products that cater to the needs of outdoor enthusiasts.

The company focuses on providing versatile and multi-functional products that are weather-resilient.

A key objective is championing sustainability and responsible adventure through its products and operations.

WIL aims to become a global brand originating from India, expanding its presence in international markets.

Specialization Areas

Wildcraft specializes in outdoor-friendly clothing, ergonomically designed gear, and all-terrain footwear.

The company offers a range of products designed for the trek-to-travel market.

Wildcraft provides head-to-toe solutions, ensuring customers are equipped for various outdoor activities.

Target Markets

The primary target market includes travelers, backpackers, and outdoor enthusiasts.

Wildcraft serves over 5 million customers annually, indicating a broad customer base within its target market.

The company has been expanding internationally since 2015, targeting markets in the Middle East and Central Asia.

2. Financial Overview

Funding History

Wildcraft has raised $20.1 million in funding over 3 rounds.

In 2013, Wildcraft secured ₹70 crores (approximately $11 million) from Sequoia Capital for an undisclosed minority stake.

As of July 14, 2018, the company's valuation was ₹8,610Cr.

The founders own 83.54% of the company.

The annual revenue of Wildcraft is ₹543Cr as of March 31, 2024.

3. Product Pipeline

Key Products/Services

Outdoor Clothing: Performance-led apparel designed for various weather conditions. Development stage: Ongoing. Target market: Trekkers, travelers. Key features: Weather resistance, durability, comfort.

Ergonomically Designed Gear: Backpacks, tents, and other gear engineered for comfort and functionality. Development stage: Ongoing. Target market: Backpackers, campers. Key features: Ergonomic design, durability, ample storage.

All-Terrain Footwear: Footwear designed for various terrains and outdoor activities. Development stage: Ongoing. Target market: Hikers, trekkers. Key features: Grip, support, durability.

4. Technology & Innovation

Technology Stack

Wildcraft focuses on innovative and quality products for outdoor enthusiasts.

The company initially focused on manufacturing packs and associated outdoor gear.

Over time, Wildcraft expanded to multi-terrain footwear and outdoor clothing.

In 2015, Wildcraft ventured into technical clothing.

In 2017, performance footwear was introduced.

A line of travel cases was launched in 2019.

Wildcraft developed a 90-liter technical rucksack for the Indian Army, supplying it from 2020 onwards.

In 2020, during the COVID-19 pandemic, the company diversified into personal protection gear, including respirators and Hazmat suits.

5. Leadership & Management

Executive Team

Dinesh K.S.: Founder. Responsible for overall company vision and strategy.

Gaurav Dublish: Co-Founder. Oversees operations and strategic approach.

Siddharth Sood: Co-Founder. Oversees operations and strategic approach.

Gifi Gopalakrishnan: Head of Manufacturing & Supply Chain. Manages production and supply chain operations.

Himanshu Ranjan: Head of Distribution & Franchisee. Oversees distribution channels and franchise relationships.

Karna Venkatareddy: Head of Finance. Manages the company's financial operations.

Aditya Gadiyar: Head of Marketing. Leads marketing initiatives and brand strategy.

Thomas Joseph P.: Head of Human Resources. Manages human resource functions and employee relations.

Recent Leadership Changes

Aditya Gadiyar joined Wildcraft India as Head of Marketing in December 2022.

Thomas Joseph P. joined Wildcraft in March 2024 as the Head of Human Resources.

6. Competitive Analysis

Major Competitors

PVH Corp: A global apparel company with a diverse portfolio of brands. Focuses on apparel and accessories.

Inditex: A multinational fashion group known for fast fashion. Focuses on trendy apparel and accessories.

The House Of Rare: An Indian fashion brand. Focuses on contemporary fashion.

Nike, Puma, Adidas, and Reebok: Major sportswear brands. Focus on athletic apparel and footwear. Technological capabilities: Performance-enhancing materials and designs.

Decathlon: An international sporting goods retailer. Focuses on affordable sports and outdoor equipment.

Samsonite and American Tourister: Traditional luggage makers. Focus on travel luggage and accessories.

Fastrack (Titan): A lifestyle brand. Focuses on fashion accessories and eyewear.

Woodland and Timberland: Other outdoor players. Focus is on rugged outdoor footwear and apparel.

Baolite Shoes: A shoe manufacturer. Focus is on developing fashionable and comfortable shoes.

DSI Samson Group: A diversified business group. Focuses on a broad range of products, from footwear to tires.

ANTA: A Chinese sportswear company. Focuses on athletic footwear and apparel.

Jack Wolfskin: A German outdoor clothing and equipment manufacturer. Focuses on functional outdoor apparel and gear.

Columbia: An American outdoor apparel and footwear company. Specializes in clothing, footwear, and accessories designed for outdoor activities.

Skechers: A footwear company, which designs, develops, and markets a diverse range of lifestyle and performance footwear, apparel, and accessories.

Metro: An Indian footwear retailer which provides a variety of branded footwear and accessories.

Rapawalk: An innovative Indian footwear brand specializing in custom-fit footwear.

Fashos: An online fashion retailer that offers a curated collection of clothing, footwear, and accessories from multiple brands.

7. Market Analysis

Market Overview

Wildcraft operates in the fashion and apparel market, with a focus on outdoor gear, footwear, and travel accessories.

The company has a strong presence in India, with over 200 exclusive stores and a presence in more than 5,000 multi-brand retail outlets.

Wildcraft's eCommerce activity is concentrated almost entirely in India.

eCommerce activity revenue amounts to US$29 million in 2024.

8. Strategic Partnerships

Apparel Group: In May 2024, Wildcraft partnered with Dubai-based Apparel Group to expand in the Gulf Cooperation Council (GCC) region, establishing an exclusive store network across Saudi Arabia, UAE, Oman, Qatar, Bahrain, and Kuwait. Strategic benefit: Expansion into new international markets.