The stock hit a 52-week high of Rs 611, up 5% on BSE in early morning trade
The company has to shed Rs 21.6 crore as compensation to workers
Bata India, which has been lagging behind the unorganised shoemakers in terms of women's footwear, is eying to achieve a revenue contribution of 35 per cent from its range of women's footwear from the current contribution of 26 per cent."In the organised footwear segment globally, women's category dominates the portfolio of any company, but it's not the same for us in India. Revenue contribution from sales of women's footwear is just 26 per cent and we are trying to increase it to 35 per cent", the company's chairman, Uday Khanna said here on the sidelines of the company's annual general meeting.The men's footwear category contributed 50 per cent of the company's Rs. 2544 crore topline, while childern's footwear contributed 15 per cent and accessories accounted for an estimated Rs. 127 crore (five per cent) revenue.The company, besides introducing more designs and in-shop experience to attract sales of women's footwear, is also betting on an aggressive advertising campaign to push up .
The footwear major plans to add 100 new retail stores, 50 new franchise stores in FY18
The footwear brand runs into controversy over its new campaign. Will this help or dent its image?
The Swiss shoemaker focuses on new designs & expands its line-up with changing customer preferences
Company had posted a net profit of Rs 54.35 crore in the year-ago period
Plans to roll out a franchisee model for expanding footprints in tier III and tier IV cities
Bata India would promote expansion of stores in franchisee model which was experimented with 30 stores in some states
At NSE, shares of the company plunged 5.92 per cent to Rs 520.35
The shares of company settled at Rs 553.20 on BSE, down 4.60% from the previous close
According to the report, Bata has lost out to foreign footwear brands as they "continue to reap benefits of disintermediation"