Bata India likely to tie-up with Adidas: Report
Bata India is in talks with atheletics shoemaker giant Adidas for a strategic partnership for the domestic market, CNBC-TV18 reported on Thursday, citing sources. The report said Bata India is likely to tie up with Adidas for the Indian market. The talks between the two footwear giants are at an advanced stage, and added, "final deal contours in the work".
The report emerged at a time when Bata India has started trials for sports apparel. Recently Bata India chairman Ashwini Windlass said he is optimistic about the company's future growth given the market outlook. Windlass also said that the company is focusing on strategies to retain a high growth trajectory that includes expanding its distribution footprint.
In fiscal year 2023, Bata India's net profit jumped to ₹319 crore up from ₹100 crore in the previous year. Revenue for the year was ₹3,451.5 crore, Windlass told shareholders at the company's 90th AGM on 10 August. The company's retail sales accounted for 75% of its revenue while R&D expenses stood over ₹6 crore in the last fiscal.
The chairman said Bata India will invest about ₹100 crore during the year and will focus on 'casualisation' and 'premiumisation'. The company is looking at the growth and expansion of both its franchisee and multi-brand stores. In FY2023 it crossed 2,000 plus stores across all formats and will expand its presence in smaller towns and cities and will collaborate with small and medium entrepreneurs to bring franchisee stores under the Bata fold to expand the availability of its products across the country.
Bata India aims to expand the number of franchisee stores to 500 by 2025, Chairman Windlass said. Bata has a total of 9,800 employees of whom 15% are female. It has an all-women stores
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