Bata To Add 500 More Stores In Next Five Years On Franchise Model
Bata India Ltd. said it will strengthen its presence in the domestic market by adding 500 stores in the next five years, focusing mainly on smaller markets.
The company has identified tier II, III and IV cities where it has plans to broaden its sales network through the franchise model, Bata India said in a statement. Bata has already identified 180 such markets in smaller cities pan-India, where it is seeking franchise partners to expand its presence beyond metro cities.
"The company is betting big on franchising and already has over 150 franchise stores across the country. Bata plans to open 500 stores in the next 5 years," the statement added. According to the latest annual report, Bata India has a pan-India retail presence with 1,415 stores across cities with 3.07 mn sq ft of retail space.
Over the last two years, Bata has increased its presence in smaller towns and reinvigorated its portfolio to offer more contemporary, fashion and casual styles for the younger generation."India is one of the most important markets for Bata globally and we aim to make Bata accessible to the fashion-forward customers in tier II-IV smaller cities via the franchise stores," said Bata India Chief Executive Officer Sandeep Kataria.
He further said: "We have seen strong demand for the new products, which is driven by multiple campaigns featuring celebrities from Bollywood and cricket world." Bata India had revenue of Rs 2,928.44 crore in FY19 and had recorded a net profit of Rs 329.66 crore in the said period.
Established in 1931, Bata India is a part of the Bata Shoe Organisation. It is the largest retailer and manufacturer of footwear in the country and has sold 47.25 million footwear pairs in the last fiscal.