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Bata India to open large stores, spend Rs 200 crore

28 May 2010 Evaluate

Bata India is planning to spend Rs.150-200 crore over the next three years to open new large format stores and renovate existing ones. This fiscal, the company plans to open around 70 large format stores with the focus on large formats only in the future. The company will be closing down 24 cash-drained stores this year.  The company at present has over 1,250 retail stores.

The company has restructured terms and conditions for the development of its integrated township project at Batanagar in West Bengal. It would receive an aggregate upfront amount of Rs.100 crore for future transfer of shares in the joint-venture company and variation of the development rights. In addition, the company will also receive 640,000 square feet of constructed space free of cost in the project over a period of time.

In 2005, Bata set up a joint venture company with Calcutta Metropolitan Group Ltd (CMGL) on a 50:50 shareholding basis to build the integrated township.crackcrack

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