Bata sells Hawai brand to Brazilian company
Footwear retailer Bata India Ltd has sold off its Hawai brand to Brazilian company `Alpragatas`
June 23, 2008 | comments ( 0 ) |
Footwear retailer Bata India Ltd has sold off its Hawai brand to Brazilian company `Alpragatas` for about Rs 3.90 crore. As revealed by the Chairman of the company, Mr P M Sinha, the reason for selling the brand off was its cheaper duplication in the unorganised sector that were sold at about one-third price of that of Bata. The company has had a turnover of Rs 225.1 crore in the last fiscal that is up from Rs 187.8 crore in the financial year 2006-2007. According to Sinha, the retail restructuring and improved services had contributed towards this growth. The company is also planning for institutional sales of footwear apart from expanding its retail presence nationwide. In the initial phase, they plan to specialise footwear for Indian defence forces, aviation, construction and hospital sectors. The companys expansion plans include opening 240 new outlets, both company-owned and franchised, and upgrade 60-80 existing stores over the next three years. Bata currently has a retail network of 1,200 stores, of which 143 are company-owned ones and the rest franchised.
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