New Delhi: Footwear retailer Bata India is looking to step up its marketing investments in the coming year to accelerate growth momentum backed by strong investments in technology across the value chain, Gunjan Shah, MD and CEO of the company said in a post earnings media statement.
During the last few quarters, the company has witnessed consistent demand for casual and comfortable footwear as it focused on refreshing its product portfolio with strategy of casualization and offering premium fashionable products. This is highlighted by robust growth momentum in its brands like Hush Puppies, Comfit, Floatz, Red Label & North Star.
On Thursday, the company has reported consolidated net profit of Rs 65.62 crore in Q4 FY23 as against the net profit of Rs 62.96 crore in the corresponding quarter of previous fiscal. The firm is optimistic about its growth on the back of its innovation and evolution of product offerings.
The footwear retailer has expanded in more than 2,050 stores in close to 700 cities, with franchise and shop-in-shop (SIS) network consisting over 37 per cent.
In a statement, Shah shared that Bata India will continue to add franchise and SIS stores to cater to untapped markets in a capital efficient way.