Bata India 'continues to explore' tie ups, as Adidas deal talk surfaces

Bata India

Bata India on August 18 issued a clarification to the stock exchanges in a regulatory filing amidst growing speculation about a potential partnership between the footwear major and German sportswear giant Adidas for the Indian market.

The footwear company outlined its stance on the matter, "we would like to inform that the Company continues to explore opportunities for strategic alliance / collaborations / tie-up for the Indian market and as and when matters arise that require disclosure."

"The Company has had successful long-running strategic tie-ups with various Brands over the years for offering unique propositions to consumers," it further said.

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

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.

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.