Major Bata footwear hopes to make Floatz an RS 800-COROR brand in the next five years. Conceived in India, Floatz was the fastest to touch the sign of RS 100-COROR among the Bata brands, revealed MD Gunjan Shah during an interaction after the AGM of the company Tuesday.Stressing that Floatz had crossed the business sign of RS 100-cror in less than 4 years, Shah said that the company was confident about the brand and had invested over 20 cror for the product. “I don’t see any reason why this brand would not touch 800 crores in the next 4-5 years. We will bring more innovations,” he said.
Speaking of other brands, Shah has said that power is now a brand of 500 RS crores and constitutes 15% of Bata India’s turnover. The leading brand – Bata – constitutes 70% of the company’s revenues. While admitting that the question of this budget was soft, the MD said that the company was betting great during the holiday.
Commenting on the retail expansion, Shah said that in the coming years it would have happened mainly through the franchising model. Of the 2,000 Bata stores in the country, 628 are franchisees shops. “In less than four years, the franchising stores have risen to 600 only 100. We will enter 500 new cities in these stores,” he added and added that in the years to come, 80% of the new stores would be owned by the affiliates.Previously, the president of Bata India Ashwani stressed that the MNC was crossing important renovations globally and India. “Our main objective would be product development. There would be a focus on efficiency. E-commerce would be a significant part of the wallet,” he said.
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