Bata India Limited has released its financial results for the March 31, 2024 quarter. The company’s revenue from operations for Q4 stood at Rs 7,976.74 million, compared to Rs 7,785.85 million in the last fiscal. The operating profit for the quarter was Rs 582.65 million.
“Bata India navigated well through the unforeseen sluggishness in the market driving towards sustainable growth led by brands backed by significant investments in marketing and technology. Our strategies helped us defend margins,” Gunjan Shah, MD & CEO, Bata India Limited said.
Despite sluggish demand conditions, Bata India continued to expand its network, now operating 1,329 company-owned and franchise stores. The company reported significant growth in e-commerce sales, highlighting the success of its digital sales efforts.
“With cautious control of costs and focus on efficiency and productivity, we could defend our margin growth across channels and maintain our standing in premium segments across brands like Red Label, Comfit, and Power. We added 24 Franchise Stores in the quarter, primarily in Tier 3 – 5 towns to cater to the demand for branded products and achieve better returns on capital,” Shah added.
The footwear company’s strategy to diversify its product range has paid off, particularly in the sneaker category led by the Power brand. Bata India expanded its Sneaker Studios to 698 stores. The Floatz line achieved its highest-ever quarterly turnover, supported by 11 new Floatz kiosks. Bata also launched its first Power exclusive brand outlet (EBO) in Noida, with plans for an additional five outlets shortly.
To enhance customer experience, Bata renovated 67 stores during the quarter, focusing on introducing new styles and technology. Major marketing campaigns, including the ’10/10 Campaign’ and youth-focused initiatives with influencers, were launched to bolster the brand’s fashion-forward image.
“We are further bolstering our offering with international tie-ups, such as Hush Puppies and Nine West which saw a significantly higher ASP driving premiumization. We are optimistic of demand revival in the future,” Shah concluded.
For the full fiscal year, Bata India reported revenue from operations at Rs 34,784.13 million, slightly up from Rs 34,515.68 million in FY23. The operating profit for the year was Rs 3,280.59 million, down from Rs 3,882.79 million in the previous year. The company continues to invest in brand and technology to drive future growth.
For nearly a century, Bata India has been a trusted name in footwear, serving 250,000 customers daily in 2022. Bata operates over 2,150 stores, including company-owned, franchise, and in-store points of sale. Additionally, it has a strong presence in multi-brand outlets and across various online channels, selling nearly 50 million pairs annually.
The company’s mission is to make global trends and premium fashion accessible to all consumers. The company offers a diverse range of brands, including Bata Red Label for trendy styles, NineWest for high-fashion footwear, Bata Comfit for everyday comfort, Power for fitness sneakers and apparel, NorthStar for youth-inspired sneakers, Floatz for stylish clogs and slip-ons, Bubblegummers for kids, and Hush Puppies for comfort and elegance.
