Bata India to continue expansion of retail stores
Footwear major Bata India will continue to expand its retail stores even as a subdued demand dampened the first-quarter performance of the company.
Bata had opened 82 stores in 2020-21. It continued its retail expansion in the smaller cities through the franchise route by opening seven stores in the first quarter and taking the overall tally to 234 via franchisees.
While the company has scaled back its capex drive to Rs 20 crore from around Rs 100 crore, company officials said around 50 stores would be added during the year.
After the company’s AGM on Thursday, Gunjan Shah, CEO of Bata India, said the expansion will make the company ready for the post-pandemic scenario and ensure the footwear major can bounce back faster.