Bata to step up India growth, double turnover in 5 yrs

BENGALURU : It’s been a little over six months into the corner office for Bata Group CEO Panos Mytaros and he is already on his second visit to India—the Czech Republic born and Switzerland headquartered footwear giant’s biggest market globally.

Mytaros, who replaced Sandeep Kataria, is charting an aggressive growth strategy for India, a market where he said Bata has been a “sleeping giant” but is now waking up.Growth for the company in the country where it has been present since over 100 years has been stagnant for a while, said Mytaros, setting a stiff target of doubling India business (turnover) in the next five years.“Brand and product are a big job to be done here. There is a big responsibility from our side to be relevant for a wider audience in India and to the times of today. You will see Bata being more visible and more relevant,” Mytaros told TOI in an exclusive interview, adding that many people think Bata to be an Indian company.

India contributes close to one-fourth of the firm’s global revenues currently. “The team has been working on India. I wanted to come and see the progression . When I come here, I learn a lot,” Mytaros said.Bata will expand its network of stores both through a mix of own brand outlets and franchise shops, double down on e-commerce and strategise for young shoppers with a focus on sneakers portfolio as it steps up focus on perking its growth in India, a market where a clutch of global brands such as Skechers and local players like Metro Brands, Campus and Relaxo have intensified competition .

Brands such as Nike and Adidas are also in contention.

Besides, there are a whole new breed of young D2C brands that are catching the fancy of Gen Z and early millennials with their chic styles—think Delhi-based sneaker brand Gully Labs.

For Bata, the key to getting more young shoppers will be driven by defining a clear product portfolio. “I would like to separate shoes and sneakers... What you will see in India from 2027 onwards is a very clear proposition—this is the shoe and this is the sneaker,” said Mytaros, adding that sneakers will become a focus area with a big expansion plan.

“Sneakers are the best bridge to bring the younger consumer,” said Mytaros.

Overall, while premiumisation will be part of India strategy, the mass markets which have been sluggish for sometime will continue to be a core consumer cohort for Bata which the CEO said is a “mass market” company. Even as the West Asia war has been a worry for companies, the firm is not taking price hikes in India as of now given that it manufactures locally.

The firm’s India portfolio includes a mix of own and licensed brands including Power, North Star, Floatz, Hush Puppies and Scholl.Bata India’s stock price has taken a beating, currently trading at Rs 642.60 a piece on the BSE, down from its 52-week high of Rs 1,300. It has also missed out on key partnerships of late—Metro Brands, for instance, bagged the rights to operate American footwear retailer Foot Locker’s India stores. Mytaros said there will be a “dramatic” increase in exports from India in the next five years.