Bata hopes to make Floatz Rs 800cr brand in 5 years
Bata hopes to make Floatz a Rs 800-crore brand in the next five years. Conceived in India, Floatz has been the fastest to touch the Rs 100-crore mark among Bata's brands, disclosed
MD Gunjan Shah
during an interaction after the company's AGM on Tuesday.
Pointing out that Floatz had crossed Rs 100-crore business mark in less than 4 years, Shah said the company was bullish about the brand and had invested over Rs 20 crore for the product. "I do not see any reason why this brand would not touch Rs 800 crore in the next 4-5 years. We shall bring in more innovations," he said.
Speaking of other brands, Shah said Power is now a Rs 500-crore brand and constitutes 15% of
Bata India
's turnover. The flagship brand — Bata — constitutes 70% of the revenue of the company. While admitting that the demand this fiscal was soft, the MD said that the company was betting big on the festive season.
Commenting on retail expansion, Shah said that in the next few years, it would happen primarily through franchisee model. Of Bata's 2,000 stores in the country, 628 are franchisee stores. "In less than four years, franchisee stores have gone up to 600 from only 100. We shall enter 500 new towns through these stores," he said and added that in years to come, 80% of new stores would be franchisee-owned.
Earlier, Bata India chairman Ashwani Windlass pointed out that the MNC was going through major restructuring globally and in India. "Our primary focus would be product development. There would be a focus on efficiency. E-commerce would be a significant part of the portfolio," he had said.
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