Bata to focus on large stores

Footwear manufacturer and retailer Bata India is planning to spend Rs150-200 crores over

the next three years to open large format stores and renovate existing ones.

P M Sinha, Chairman, Bata India said that this fiscal, the company plans to open around 70 large format stores and would be focusing only on large formats in the future. The company at present has over 1,250 retail stores. Sinha says they plan to close down 24 cash-drained stores this year. Last year, Bata renovated 40 stores and closed down 73 small format stores.

The company has also restructured terms and conditions for the development of its integrated township project at Batanagar in West Bengal. It would receive an aggregate upfront amount of Rs 100 crores for future transfer of shares in the joint-venture and variation of the development rights.

Sinha averred that Bata India had got a large portion of the upfront amount. In addition, the company will also receive 640,000 sq. ft. of constructed space free of cost in the project over a period of time.