Bata bets big on India, to open 500 new stores in five years
Footwear major Bata is betting big on the Indian market for growth and plans to open 500 new stores in the country over the next five years.
Bata considers India as an important market and will be exploring the franchise model for its expansion in India. The company will open these new stores in tier 2, 3, and 4 cities.
Bata India has been witnessing strong growth and had reported a net profit of Rs 330 crore ($46.5 million) with revenue of Rs 2,928 for the financial year 2018-19.
"India is one of the most important markets for Bata globally and we aim to make Bata accessible to the fashion forward customers in the smaller cities via the franchise stores. The company is betting big on franchising and plans to open 500 stores in the next five years," Bata India CEO Sandeep Kataria said in a statement.
“We have seen strong demand for the new products, which is driven by multiple campaigns featuring celebrities from Bollywood and cricket world,” he added.
Bata India is a part of the Bata Shoe Organisation and currently has over 1,415 stores across cities along with a strong online presence.
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