Bata to invest Rs 100 crore in retail

Bata to invest Rs 100 crore in retail

Bata India has said that it plans to invest Rs 100 crore in the current year to ramp up retail footprint and also refurbish its three manufacturing facilities.

"Bata India plans to add 100 retail outlets in the current financial year and the company expects to achieve a sales growth of 20 per cent during 2013," Bata India chairman Uday Khanna said on Tuesday.

Bata India was also planning to set-up standalone concept stores for ladies footwear over the next two years.

"We would look to have standalone ladies footwear concept stores in the next 18 to 24 months," group managing director Rajeev Gopalakrishnan said in Kolkata.

The footwear stores will be under the 'Bata' brand, according to him.

Ladies footwear brands, which include the likes of Marie Claire and Sundrops, contribute around 25 per cent to the company's top-line.

Mr Khanna without giving further details said the company had initiated steps to merge its two subsidiaries - Bata Properties Ltd and Coastal Commercial and Exim Ltd - with itself.

On the queries by the shareholders for bonus and stock split, Mr Khanna said, "On issue of bonus shares we will come back to you. On share split we will come back in due course. Those are two areas still pending before the board."

While, both Mr Khanna and Mr Gopalakrishnan later clarified to reporters after the shareholding meeting that there was nothing on the agenda currently for a stock split or a bonus. If at all that would take place at an "appropriate time".

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