Footwear brand Bata India is embarking on a strategic mission under the leadership of CEO Gunjan Shah to revitalise its brand image and regain market share in the highly competitive footwear industry.
The brand aims to achieve 20 per cent of its sales online within the next three years by focusing on digital transformation and brand rejuvenation. It also plans to revamp 30-40 stores quarterly. Moreover, Bata has forged a partnership with Nine West, a premium women's footwear brand, aiming to replicate the success of Hush Puppies over the next five to 10 years.
Despite facing challenges such as stagnant sales growth and underwhelming valuations, Bata is committed to enhancing its premium portfolio while ensuring competitiveness in the mass market segment. The brand is adapting its offerings to cater to younger generations. It is also increasings ad spends and focusing on enhancing brand visibility through various channels.
While Bata captures 10 per cent share in the Indian footwear market, its outdated store network and lack of design variety have led to a loss of mindshare among consumers. To address these issues, Bata is investing in marquee properties, improving visual merchandising, and expanding its omnichannel initiatives
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Analysts remain cautiously optimistic about Bata's future prospects, highlighting the potential for growth in both value and premium segments once inflation softens. With a renewed focus on sneakers and athleisure apparel, Bata aims to bridge the gap between consumer perception and market share.
Bata's strategic initiatives, combined with a stronger focus on customer experience and product innovation, could pave the way for a turnaround in the coming years, believe analysts.
