The talks between the two brands are likely at an advanced stage and the deal contours are reportedly in works already.
Indian shoemaker Bata is reportedly in talks with sportswear manufacturer Adidas for a strategic partnership for the Indian market. As per a report in CNBC-TV18 on Thursday, the news portal quoted sources as stating that the talks between the two brands are at an advanced stage. In fact, the final deal contours are in the works as well.
Coming to Bata India, the brand is known to be among India’s largest footwear retailers. With its retail network spanned across 2,100 stores in close to 700 cities, the brand has a wide reach across the country. Not to miss, the Bata stores are located in not only key locations in India, but also in mini-metros and towns, thereby offering them price points which work well for different consumer segments.
As for the first quarter of the current financial year, Bata India Ltd witnessed a consolidated net profit of Rs 106.8 crore. The brand also reported a decline of 10.3 percent from Rs 119.3 crore a year back, with the final revenue at Rs 958.1 crore. The revenue was around 1.6 per cent from Rs 943 crore in the year-ago quarter, as per the company in its regulatory filing.
She further added how the brand aims to implement initiatives to elevate customer experience at its stores and on the website as well, with the focus remaining on cost efficiency across all operations.
“We have introduced a series of innovations to consumers like Bata Shoe Care Program, Buy Now Pay Later and Bata Wallet. We remain focused on cost efficiency across all operations and optimising our resources. We are optimistic on the demand resurgence going ahead and continue to expand in Tier 3-5 towns, digital channels and make investments in elevating customer experience and brand marketing," Shah signed off.
