Bata India clarifies strategic alliances amid reports of partnership talks with Adidas
Bata India on Friday gave a clarification regarding the company's 'strategic alliances and partnerships' after reports emerged that the footwear maker is in talks with Adidas for a partnership for the Indian market. Yesterday, CNBC-TV18 reported citing sources that Bata India is in partnership talks with Adidas. The talks are likely to an advanced stage and the final countours of the deals are in the works.
However, in a stock filing on Friday, Bata India said, it continues to explore opportunities for strategic alliance/collaborations/tie-up for the Indian market, and as and when matters arise that require disclosure, the company will fully comply with its obligations under listing regulations. “The Company has had successful long-running strategic tie-ups with various Brands over the years for offering unique propositions to consumers," it added. Bata India's share were up 1.66% today at 11.45 AM.
On Thursday, it closed 5.3% higher at ₹1,733.75 apiece. Bata India, which is the flagship of Netherlands-based Bata BN, houses brands like Hush Puppies and Scholl and has more than 2,050 stores across the country, according to its latest annual report. Adidas, which sells shoes and apparel, already operates standalone stores across India.
Recently, Bata India's Managing Director and CEO Gunjan Shah told PTI news agency that the shoemaker is expanding its presence in both channels - physical stores and online - and expects e-commerce to contribute 20% of its total sales in the next two to three years. She said that Bata is investing in front-end operations, stores to back-end infra, technology, design, R&D, etc. Besides, Bata is bringing new collections at a rapid pace to compete with its rivals.
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