In what seems to be Bata’s exit plan for the low end market, the shoe giant will be introducing four new designs everyday and plans to open 70-100 stores with a built up area of 5000 sq. ft. every year. The decision is based on rising demand in the middle range segment. In the past few years, Bata has been pursuing an exhaustive clean up strategy in India. The Switzerland based company has shutdown close to 400 unviable stores and replaced them with 270 large format stores. Bata, which sells in 315 towns, has seen a phenomenal growth in online sales which have grown 200% in the 2010 alone. In fact, the efforts have started paying off as the company which was supposedly doomed has been delivering formidable financial results. Bata recorded net profits of Rs.34.39 crore in the fourth quarter of CY 2010, an increase of 35.39% compared to the same period last year. With competition in the form of cheap leather imports from China constantly on the rise, the current strategic outlook will act as a much needed cushion for Bata.
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