Bata in partnership talks with Adidas for Indian market

Talks are going between the two footwear company for a strategic partnership and is likely at an advanced stage, according to a news report.

Footwear major Bata India is in talks with German sportswear giant Adidas for a strategic partnership, CNBC TV18 reported on August 17, citing sources.

The talks are likely in advanced stage and final deal contours are in the works, the business television channel said.

Bata India Ltd on August 9 reported a net profit of Rs 106.8 crore for the June quarter of FY24, registering a decline of 10.3 percent from Rs 119.3 crore a year back.

Also Read | Adidas sees smaller 2023 loss thanks to Yeezy sales

The company's revenue stood at Rs 958.1 crore, rising 1.6 percent from Rs 943 crore in the year-ago quarter, the company said in a regulatory filing.

Bata India shares jumped 5.46 percent and were trading at Rs 1,737.05 at 12.49 pm on August 17.

Also Read | Relaxo Footwears: Strong results; on track for market share gains