BackBata to open 250 new stores in 3 years
Bata to open 250 new stores in 3 years
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Kolkata: Footwear maker Bata India Ltd plans to expand presence by opening 250 new stores over three years, a top official said on Thursday, 19 June.
It also plans to modernise about 100 existing stores in 2008, chairman P.M. Sinha told reporters on the sidelines of its shareholders meet.
He did not reveal the size of the company’s investment for the stores, but said typical cost for interiors and merchandise for each store would be Rs1.5-20 million.
Bata currently runs 1,200 outlets in different parts of the country both on owned and franchised model.
“Investments will also depend on rentals of the area where the store is located," he said, adding the stores may also be franchised out.
“We will focus on new areas like sales of specialized footwear for defence personnel and factory workers."
The company also expects its township project in 262 acres of surplus land at its plant site in West Bengal to be ready by 2012-13.
“We are in advanced stage of discussions with an international hotel chain for a hotel in the township," he said.
In 2007, the firm’s revenues rose 12.6% to Rs8.67 billion ($202 million) following redesigning of shoes and retail chains.
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