Bata Plans to Double Business in India Over Next Five Years
Bata eyes India revival, targets doubling business in five years
The Economic TimesImage: The Economic Times
Bata, the Switzerland-based footwear company, aims to double its business in India within five years, targeting younger consumers and expanding its product offerings. CEO Panos Mytaros emphasizes the need for a clearer product portfolio and increased visibility in a competitive market that includes global brands like Nike and Skechers.
- 01Bata targets to double its turnover in India within five years.
- 02The company plans to expand its store network and e-commerce presence.
- 03Focus will shift towards younger consumers with an emphasis on sneakers.
- 04Bata's stock has declined significantly, currently at ₹641.50, down from ₹1,300.
- 05The company aims for a dramatic increase in exports from India.
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Bata, a leading footwear brand headquartered in Switzerland, is setting ambitious goals for its operations in India, aiming to double its turnover in the next five years. CEO Panos Mytaros, who has been in his role for just over six months, describes India as a 'sleeping giant' poised for growth. Currently, India accounts for nearly 25% of Bata's global revenues, but growth has stagnated recently. To revive its fortunes, Bata plans to expand its store network through a combination of company-owned and franchise outlets, enhance its e-commerce initiatives, and target younger consumers by refining its sneaker offerings. Mytaros noted that the market is increasingly competitive, with brands like Nike, Adidas, and Skechers vying for attention alongside domestic players. Despite the challenges, including a recent decline in stock prices—currently at ₹641.50—Bata remains committed to its strategy without immediate price hikes due to local manufacturing. Mytaros also anticipates a significant increase in exports from India over the next five years.
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Bata's growth strategy could lead to increased job opportunities in retail and manufacturing sectors in India, as well as more options for consumers in the footwear market.
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