European footwear major and India’s leading and most preferred footwear brand, Bata, announced its financial results for the first quarter ended June 30, 2017. The company’s Q1 turnover and net profit stood at Rs 743.1 crore and Rs 60.4 crore, respectively.
Start of the 2017-18 fiscal saw the high decibel launch of SS 2017 collection which included international styles for women like espadrilles and the exciting Bata Insolia range, probably the world’s most comfortable heels with Insolia® Technology that reduces pressure on the fore foot by 30 per cent.
Company’s focus on lifestyle segment, improved visual merchandising yielded an impressive 10 per cent growth in same store sales and opening of 40 new stores resulted in 15 per cent growth in retail turnover for this quarter. Additional footfalls were generated through various marketing initiatives including the recently launched TV campaign. The company saw a gross margin improvement of 1 per cent through introduction of value added products and change in the product mix.
Q1 17-18 also saw the reveal of a new image of Bata India with the latest women’s thematic TVC ‘Me. And Comfortable With It’ and also the successful organisation of its image changing 1st edition of Bata Fashion event in New Delhi. It was attended by leading fashion editors, bloggers, influencers and coincided with the visit of the Global CEO – Alexis Nasard and global CMO – Thomas Archer Bata.
President – South Asia, Bata, Rajeev Gopalakrishnan said, “We at Bata India are thoroughly excited to continue our momentum in our evolution to a contemporary lifestyle brand. We took strategic steps in the last quarter like opening of 40 new stores, nationwide launch of Bata Insolia range of comfortable heels for women and a grand fashion event, a first for India. We ended on a high with our Brand TVC reaching out to the modern Indian women. All these initiatives generated additional footfalls and resulted in higher same store sales and better margins.”