Bata will make premium shoes in collaboration with Adidas: Talks on partnership between the two companies continue, Bata’s stock rose 6% on this news.
India’s leading shoemaker company Bata is soon planning to enter into a strategic partnership with sportswear manufacturer Adidas for the Indian market. CNBC-TV18 reported in a report on Thursday (August 17) that the talks between the two companies are at an advanced stage and work is on to finalize the deal.
Bata’s stock rose by more than 6% due to this news.
After the arrival of this news, the stock of the company is seeing a rise of more than 6% today. Currently Bata’s stock is trading at Rs 1,747, up 6.08%. The company’s stock has gained more than 20% in the last six months.
The blueprint for future profitable growth is in place
Gunjan Shah, MD & CEO, Bata India Limited said, “Our strategy of casualization and premiumisation is driven by expansion in retail network and acceleration of investments in core technology (ERP, merchandising, among others). We believe a roadmap has been laid for profitable growth in the future.
Gunjan Shah said, “At Bata India, we are always implementing initiatives to enhance the customer experience at our stores and website. We have introduced a series of innovations for consumers such as Bata Shoe Care programme, Buy Now Pay Later and Bata Wallet.
He further added, “We always focus on cost efficiency in all our operations and making the best out of our resources. We expect demand to pick up again going forward. We will continue to expand into Tier 3-5 cities, digital channels. Apart from this, will invest in improving customer experience and brand marketing.
Bata has over 2,100 retail stores in India
Bata India has established itself as the largest footwear retailer in India. The company’s retail network of over 2,100 stores across 700 cities in India provides it with a wide reach across the country. Its stores are not only present in prime locations, but can also be found in micro-metros and towns at price points for multiple consumer segments.
