Bata India Limited has announced its attention to invest Rs150-200 crore over the next three years to open around 70 large format stores, this fiscal.
P.M. Sinha, chairman of Bata India said that the company is planning to focus on large format and renovate existing ones. He also said that the company will be focusing on large formats only in the future.
The company is shutting down 24 cash-drained stores this year. At present, it has over 1,250 retail stores. Last year Bata renovated 40 stores and closed down 73, which were small in format.
The company also supplies specially-designed shoes to the defence sector. Sinha said that the company is doing well in supplying shoes to the defense forces.
In 2005, Bata set up a joint venture company with Calcutta Metropolitan Group Ltd (CMGL) on a 50:50 shareholding basis to build the integrated township.