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Prominent footwear company Bata India is in talks with German sportswear giant Adidas for a strategic partnership, reported CNBC TV18, CNBC TV18 reported on August 17, quoting sources.
The talks are likely to be at an advanced stage and final deal contours are in the works.
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As per the report, the partnership is focused specifically on the Indian market with primary objective to leverage Bata’s extensive and impressive retail network across the country.
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Bata has around 2,100 stores spread across 700 cities throughout the country.
It is to be noted here that the Bata India Ltd reported a net profit of Rs 106.8 crore for the June quarter of FY24. This was a decline of 10.3 percent from Rs 119.3 crore a year back.
The company’s revenue rose 1.6 per cent at Rs 958.1 crore from Rs 943 crore in the year-ago quarter, the company said in a regulatory filing.
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