Bata India, one of Indias largest footwear chains, is planning to set up 40 new stores across the country by March 31 this year.
While commenting on the company outlets, a company official said, "These new stores will be based on the international format of Bata stores and will have an average size of 3,000 square feet."
On his statement, the company official said that the investment for the expansion would be raised through internal accruals but declined to quantify the amount.
Bata India, one of the largest footwear retailers in India with a market share of over 20 percent in the organised sector, has currently over 1,200 stores located in more than 400 towns and cities.
The managing director of Bata India, Marcelo Villagran said, "Bata India has started over 150 new large format stores since 2006 and will continue to open 60 new stores every year. Our retail expansion plans are aimed at meeting the shoe requirements of our customers across India."
The new stores will primarily be located in tier-I and tier-II cities like Sonepat, Kota, Jodhpur, Ludhiana, Berhampur, Mandya, Gangtok, Hubli and Nasik apart from the metros.
The company official said that the footwear major was witnessing double digit growth in spite of the financial slowdown that has hit corporate India across sectors.
The Associated Chamber of Commerce and Industry and consultancy KPMG has confirmed that between $25-30 billion investment is anticipated for setting up of over 1,000 hypermarkets and over 5,000 supermarkets in the next four to five years.
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