Bata to open 500 franchise stores in India by 2024
today Apr 1, 2019
India’s largest shoe retailer, Bata India Ltd, will strengthen its retail presence across the country with the addition of 500 new franchise outlets over the next four to five years.
The company will continue to focus on tier 3, 4 towns and expects double-digit growth from these markets going forward.
Bata has also expanded its product portfolio by expanding into the accessories segment offering ladies and men bags. It is also banking on premiumisation of its products for growth in the Indian market.
"The company has a target of 500 franchise stores over the next 4-5 years and would also continue to open more company-operated stores. This will help us to take the footprint of Bata in my more towns than we have had and that is a successful engine of growth for us,” Sandeep Kataria, CEO of Bata India told CNBC-TV18.
"Demand has been good than earlier years. They have been growing in double-digits with robust growth coming in from tier 3 and 4 towns including the franchise stores. There has not been a big difference in terms of growth in bigger towns and tier 3, 4 towns. The third quarter was very good for the company," Kataria added.
Bata India witnessed a 51 percent surge in net profit to Rs 108 crore ($15.3 million) during the third quarter ended December 2018 with revenue of Rs 779 crore on the back of robust festive sales.
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