Bata India Continues To Explore Partnerships As Rumors Of An Adidas Agreement Circulate
Bata India Continues To Explore Partnerships As Rumors Of An Adidas Agreement Circulate: According to sources cited by CNBC TV18 on August 17, the world’s largest footwear company, Bata India, and German sportswear giant Adidas are in negotiations to form a strategic alliance.
In response to mounting rumors of a possible partnership between the world’s largest footwear company and German sportswear giant Adidas for the Indian market, Bata India on August 18 provided a clarification in a regulatory file sent to the stock exchanges.
We would like to notify you that the firm continues to investigate prospects for strategic alliances, collaborations, and tie-ups for the Indian market and as and when circumstances emerge that require disclosure, the footwear firm detailed its position on the matter.
The Company has successfully maintained long-term strategic alliances with a number of Brands over the years to provide consumers with original offerings, it was added.
According to sources cited by CNBC TV18 on August 17, the world’s largest footwear company, Bata India, and German sportswear giant Adidas are in negotiations to form a strategic alliance.
According to the business television channel, the negotiations are probably well along and final contract details are being worked out.
On August 9, Bata India Ltd. recorded a net profit of Rs. 106.8 crore for the June quarter of FY24, down 10.3% from Rs. 119.3 crore the previous year.
According to a regulatory filing, the company’s sales for the most recent quarter was Rs 958.1 crore, an increase of 1.6 percent from Rs 943 crore the year prior.
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