Bata India will refrain from both discounting and increasing product price as popular tactics to compensate for revenue loss faced due to the lockdown and rise in operating cost of its physical stores in the new normal.
The company reopened about 53 per cent of its stores or business with restricted service hours since April 27, starting with states of Goa and Kerala. It does not plan to open any new store in the next 3-6 months and is investing in expanding its product portfolio to stay relevant. The company recently launched new verticals such as Work-From-Home range with slip-ons and sandals, a collection of washable footwear, and anti-viral masks for adults and children.
Expanding ecommerce footprint is another key focus for the company the remainder of the year. It soon plans to roll out Home shopping with Whatsapp chat, a pilot launched two weeks ago to the rest of the country.
Bata India reported a 56.68 per cent decline in consolidated net profit at Rs 38.40 crore for the fourth quarter ended March 2020 due to COVID-19 induced lockdown. The company had posted a net profit of Rs 88.66 crore in January-March quarter a year ago.