Bata to pump Rs 100cr into retail biz

Kolkata (PTI): Bata India on Tuesday announced that the company is planning to invest Rs 100 crore in the current year to ramp up the retail footprint and also refurbish its three manufacturing facilities. "Bata India plans to add 100 retail outlets in the current financial year and the company expects to achieve a sales growth of 20 per cent during 2013," Bata India Chairman Uday Khanna said. It is also planning to set-up standalone concept stores for ladies footwear over the next two years. "We would look to have standalone ladies footwear concept stores in the next 18 to 24 months," group MD Rajeev Gopalakrishnan said. The footwear stores will be under the 'Bata' brand, he added. Ladies footwear brands, which include the likes of Marie Claire and Sundrops, contribute around 25 per cent to the company's top line.

Khanna without giving further details said the company had initiated steps to merge its two subsidiaries � Bata Properties Ltd and Coastal Commercial and Exim Ltd � with itself. On the queries by the shareholders for bonus and stock split, Khanna said, "On the issue of bonus shares we will come back to you, on share split we will come back in due course."