MUMBAI: Bata, a household name in the footwear market, is diversifying its business in accessories categories like sunglassesand scarves and is expecting to net 15-20 per cent of revenues from this area in the next two-three years.
"Our footwear business is growing at about 20 per cent annually, which is very good, but we want a diverse portfolio. While we already have handkerchiefs in the market, in the next one month, we will introduce sunglasses and scarves," BataBSE 1.29 %Managing Director Rajeev Gopalakrishnantold PTI.
Over the next two-three years, the non-footwear business should contribute 15-20 per cent of the overall revenues, he added.
"We want to be a contemporary brand, present across categories. The products will be priced keeping in mind the middle and the upper-middle class population," Gopalakrishnan said.
These products will be introduced across Bata stores. Bata has over 1,350 stores, including 1,000 company-owned stores.
"We will add about 100 stores this year, of which some have already come up. We are investing about Rs 100 crore this year for retail expansion and modernisation of manufacturing lines," he said.
Bata today launched its new monsoon collection starting Rs 199.