With a rise of 28.2% over the corresponding quarter; Profit after tax is 714 million
New Delhi: Mr. Ashwani Windlass, having first-hand experience in both traditional and new age technology companies and track record of value creation, has been appointed as an Additional Director of the Company with effect from November 13, 2019 to hold office as an Independent Director for a period of 5 (five) consecutive years, subject to approval of the shareholders of the Company. Mr. Windlass has also been appointed as the Chairman of the Board of Directors with effect from November 13, 2019. Mr. Windlass has succeeded Mr. Uday Khanna, who after serving 13 years as a Director including the last 8 years as the Chairman, had decided not to offer himself for reappointment and relinquished his position on the Board with effect from August 4, 2019. Mr. Windlass is currently engaged in advising/mentoring the Board/CEO/Chairman levels in transforming the Boards/Corporate functioning with digital interventions and new technologies like e-governance, artificial intelligence and virtual reality etc., revitalizing customer focus and strategies for growth.
Bata India, the nation’s leading footwear manufacturer and retailer, reported 7,220 million in Net Sales and 714 million in profit after tax for the second quarter of the financial year, clocking an increase of 7.3% and 28.2% respectively, over the corresponding quarter last year. Bata’s momentum is driven on the back of continuous investment done over the past few years in areas of product-innovation, store renovation, customer experience and marketing campaigns. The new campaign rolled out in this quarter “New Arrivals Every Friday” featuring new designs in every Bata stores has helped to attract new and old customers back to Bata stores and “Bata.in” online store.
This quarter, Bata has inaugurated its 5th Experience center which provides complete footcare with 360 foot scanning, customized insoles, medicated pedicure, shoe laundry and access to the widest range of shoes in the store and the digital endless aisle. The center is housed in the newly upgraded Bata flagship store in Infinity Mall which is also the largest retail store in Mumbai. With focus on product innovation & premiumization, this 6000 sqft store boasts of immersive brand experiences, a sneaker studio, wide assortment of fashion and working women styles and premium collections from Bata Comfit, Hush Puppies, Naturalizer & Caterpillar.
Added Sandeep Kataria, Chief Executive Officer, Bata India Limited, “While the market slowed down this year, Bata India continues to sustain its leadership in the retail sector with 7.3% increase in the turnover and 28.2% in profit over the previous quarter. Our momentum is driven on the back of continuous investment done over the past few years in areas of product-innovation, store renovation, customer experience and marketing. We have aggressively expanded our footprint through our franchising model along with a focus on the e-commerce led omni-channel platform, making Bata accessible across the length and breadth of the country. Our continuous focus on innovation, New Arrivals Every Friday initiative, Flagship stores having Experience Centers and campaigns inviting younger consumers helped us progress our journey to be a younger and vibrant retail brand. We also employed multiple cost savings initiatives along with restructuring of contracts and long-term negotiations, thereby helping us realize better margins and profits.”
Bata also scaled up its community program Stride with Pride to 20 cities, where consumers can drop in their used shoes and in turn, Bata donates a new pair of shoes to a child in need. Since the beginning of the year, Bata has made a difference to over 1.3 lakh children’s lives by giving them shoes that keep their feet safe and allow them to experience the joys of childhood. Bata continues to go strong with its ‘Reuse, Reduce, Recycle’ initiative across its manufacturing, retail and product operations through various initiatives. This included power-efficient LED bulbs, reducing usage of chemicals across the manufacturing process and encouraging customers to bring their own bags and rewarding them with BATA club points.
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