Bata India announces Q2 results with robust retail expansion and stylised product portfolio

2024-11-23 10:53:32 Business

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Gurugram, November 4, 2024: Footwear major Bata India Limited today announced results for the quarter ended September 30, 2024. Revenue from operations for the quarter stood at Rs. 8,371 million, showing positive momentum from Rs. 8,191 million in Q2FY24. The Operating Profit was reported at Rs. 524 million. The EBITDA profit stability showcased the Company’s resilience in managing operational efficiencies. The results for the quarter reflect continued momentum in the transformation journey, driven by strategic investments in product innovation, elevated customer experience, technology integration and brand premiumization, positioning Bata strongly for future growth.

Key Highlights

· Continued expansion with a network of 1955 (COCO and Franchise) stores

· 48 stores renovated in this year, elevating customer experience with style and technology propositions

· Successful execution of portfolio casualization strategy – Sneaker Studio implemented in 756 stores

· Net Promoter Score (NPS) improved to 80

· 4 Exclusive Brand Outlets (EBOs) for Power, 136 EBOs for Hush Puppies, 14 Kiosk for Floatz

· Launched limited-edition collections through strategic collaborations, including Bata Red Label x Emily in Paris and Hush Puppies x Peanuts

· Ahead of the festive season, launched Pujo Glam Collection

· Unveiled global campaign ‘Stronger Inside’ for Power and launched Energy Collection, democratising fitness at accessible prices

Speaking on the Q2FY25 performance, Gunjan Shah, MD and CEO - Bata India Limited, stated:

“Despite continuing market headwinds and subdued consumption, we saw some recovery in our growth trajectory through the quarter backed by focused execution of strategic initiatives. We are seeing strong validation of our premiumisation strategy across channels, with premium products showing robust growth and increased contribution to our revenue mix. Our Brand stories connected well with targeted audience.

Our expansion through franchise stores in Tier 3-5 markets, combined with our robust digital presence, is helping us tap into new growth opportunities with strengthened omni-channel approach. Our conscious efforts on Franchise model expansion are showing good results. Cost efficiency remains a cornerstone across all operations including manufacturing facilities.

We continue to maintain a balanced approach between managing near-term challenges and investing in long-term growth drivers. We are optimistic about consumption recovery in the coming quarters, backed by festive season momentum and our strong market positioning.”

About BATA India:

For close to a century, Bata India has been a symbol of trust and quality for Indian consumers, serving 250,000 customers every day in 2023. Throughout this journey, Bata has continuously evolved to cater to the diverse needs and preferences of its customers to become the largest footwear retailer and manufacturer in the country. Its expansive retail network consists of 1900+ stores (Company Owned and Franchise). Augmented by thousands of Multi multi-brand outlets and a robust omnichannel presence across D2C and marketplaces, Bata India sells close to 50 million pairs annually.