Footwear brand Bata India is positive about its growth and profitability prospects in the coming year. The business plans to continue to expand with an omni-channel approach and invest in multiple areas of its operations.
“We have made huge strides this past year,” said Bata India’s CEO and director Gunjan Shah, the Press Trust of India reported. “2023 will be a great year for us. We will strengthen [our] ‘OneTeam’ collaboration, focus on people development, invest in digitisation, and improve efficiency. We are perfectly equipped to achieve future profitable growth.”
In the 2023 financial year, Bata India reported profits totalling Rs 319 crore, a significant increase from its profits of Rs1 00 crore the year before, the Economic Times reported. The business expects this trend to continue despite inflationary pressures.
“Expanding our footprint through a combination of franchisee and COCO [company owned company operated] models, we opened 200 plus franchise stores, shop-in-shop, and company-owned stores, and the overall store count crossed the impressive 2,000 milestone.
The business has developed a number of its retail concepts and opened its first ‘Red Label by Bata’ premium store in the 2023 financial year. Bata India also opened 25 stores which are run by an all-women team and expanded its retail footprint in Tier 3 to 5 cities.
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