Bata India looks to open 70-80 new stores in FY20

Bata India, a leading manufacturer of footwear in India, is planning to add 70-80 new stores in FY20. The brand is eyeing opening almost 20 new stores in the current quarter.

RK Gupta, CFO of Bata India, said, "Margins are sustainable at 20 percent plus and also expect double-digit growth going forward. In retail, we grew by 18 percent and we are putting our best efforts. We expect that it will continue. We are taking a lot of new initiatives in wholesale business and from the coming quarter business will stabilize."

"In first 9 months, we have opened almost 62 new stores. In the current quarter, we are planning to add almost 20 new stores and in FY20, we have a plan to add 70-80 new stores, subject to availability of right space in the right town," he added.

The company was incorporated as Bata Shoe Company Private Limited in 1931. In 2017-18, the footwear major added more than 100 new retail stores, 31 franchise stores and renovated over 90 stores across the country.