Business Daily from THE HINDU group of publications
Thursday, June 19, 2008 ePaper | Mobile/PDA Version
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Business Daily from THE HINDU group of publications Thursday, June 19, 2008 ePaper | Mobile/PDA Version |
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Update at 1700 hrs (IST)
Corporate Bata to open 240 outlets in three years KOLKATA: Footwear major Bata India Ltd will open 240 new outlets across the country over a period of three years that could entail an investment of up to Rs 480 crore. "The company would go for a major expansion drive and will open 240 outlets in the next three years," Mr P M Sinha, Chairman of Bata India said after the company's annual general meeting here on Thursday. The cost of a new outlet would typically vary between Rs 1.5 crore to Rs two crore. Besides, he said the company would utilise the surplus cash for expansion and upgradation of 60 to 80 existing outlets. Mr Sinha said whether the company would adopt the franchisee model in opening the new outlets was yet to be decided. At present, out of the 1,200 outlets of Bata, 143 were franchisee owned. He said that the company has targeted the institutional business for raising sales. Mr Sinha said that the company would manufacture specialised footwear for defence, para-military, hospitality, airlines, and mining. He said that institutional sales would be a main revenue earner for the company. The company was also looking for space at malls and other key locations. - PTI
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