Targeting 300 franchise stores in next 5 years: Bata
Bata India, India's largest footwear retailer is looking to get even bigger with plans to open about 110 more stores this year. Bata has opened 65 stores in FY18 already.
In an interview to CNBC-TV18, Rajeev Gopalakrishnan, Managing Director & Chief Executive Officer of the company discussed that and more about the company’s plans going forward.
Same-store-sales growth (SSSG) need to be 8-10 percent and rest of the new store opening should contributed 4-5 percent. That is the plan we are taking forward and we will hit the double digit income to the SSSG, he said.
“Today the SSSG in the first half of year is 6 percent and we are targeting to move to 8-9 percent by end of this year,” he added.
If we need to get into a growth of 15-20 percent, we need to expand much more faster, said Gopalakrishnan.
Premiumisation has been one of the key agendas the company has been taking up for the last one to one-and-a-half years.
The management is also looking to increase average selling price by 15 percent this year.
Bata has opened 50 franchise stores this year and is targeting 300 franchise stores in the next 5 years.
No plans of buyback at the moment, he said.