Tata International, the trading arm for the Tata Group, stated today that it has bought 76 per cent stake in Bachi Shoes India and Euro Shoes Components for an undisclosed sum.
While Bachi Shoes is India’s largest manufacturer of children’s footwear supplying to several international brands across Europe, Euro Shoes is a manufacturer of footwear soles. Both are located in south India.
"The Bachi family will continue to hold the residual stake and will work closely with Tata International (TIL) to manage and grow this business", stated a release.
These acquisitions will augment TIL’s presence in the manufacture and export of footwear with a capacity of over five million pairs per year. It will make TIL one of India’s largest exporters of footwear, further added the release.
Established as a tannery in 1975, the Bachi group entered manufacturing of shoes and related activities such as sole-making. Presently manufacturing over two million pairs annually of children’s shoes for premium brands in Europe, the Bachi group is the leader in this segment and one of the fastest growing companies in the Indian footwear industry.
