Bata concentrates same store growth

Kolkata, Aug 4 (IANS) Bata India has changed its strategy of opening over 100 stores a year and would start concentrating on same store growth, a top company official said on Thursday.

It also plans to set up online kiosks in some major retail stores across the country.

"…company has changed its strategy of opening 100 plus stores every year and is now concentrating more on achieving same store growth," said Chairman Uday Khanna.

The shoe maker added 26 new retail stores during the last financial year, he told shareholders at the company’s 83rd annual general meeting.

"The company is planning to set up online kiosks in some of the major retail stores across the country wherein customers shall have the option to buy footwear of their choice online," Khanna said.

The company continues to penetrate into tier 2 and tier 3 cities in India and other rural markets, he said.

The footwear maker has been investing to strengthen its digital multi channel business division along with logistics division with due importance for delivery of footwear and accessories, its latest annual report said.

In 2015-16, online sales reached Rs 40 crore.

The company reported stand alone net profit of Rs 50.49 crore for the first quarter ended June 30 as compared to Rs 50.18 crore in the same period last year.