16 February 2023, Mumbai
For the third quarter Bata’s consolidated net profit rose by 15 per cent. Revenue from operations rose seven per cent year on year. The footwear retailer’s total expenses also increased to Rs 798.08 crores in the third quarter as against the third quarter of the earlier fiscal.
The company has a continuous focus on refreshing its product portfolio and offering premium fashionable products. The company saw encouraging demand for its comfort and casual wear ranges of Bata Comfit, Floatz, and more. During this quarter, the footwear retailer added its highest number of franchise stores with a total footprint crossing the 2000 milestone.
Bata plans to continue driving various cost optimization initiatives across the value chain. In the mass categories, demand remained sluggish due to inflationary pressures during the quarter. The retailer has continued investments in marketing and technology to fuel the accelerated momentum.
Bata is the largest footwear retailer in India with company-owned stores, shop-in-shops and franchisee stores. Bata is targeting at bringing down the average age of customers from the current 39 years to about 25 years. This will be done by engaging young actors for advertising, introducing products for that age group and changing the layout of stores.
