Bata Falls Into Losses After 58 Years In Bangladesh3 min read

771

Fashion is never complete without a well-designed pair of shoes. In fact, this marketing insight has prompted Bata to introduce a number of designers’ collections for men, women, and children.

Read more: Linkedin Slashing 1k Jobs Indicates Hazard For White-collars

Moreover, exclusive international brands such as Bata Comfit, Marie Claire, Hush Puppies, Nike, Power, North Star, Weinbrenner, and B.first are collaborating with Bata. Especially, these are a few names that testify to the momentous change towards branded shoe marketing in Bangladesh. Notably, most of the custom shoe categories such as athletic shoes come through the development of the Power brand. Not to mention, Bata is uncompromising quality with striking designs that have put Bata shoes in a key position to appeal to different segments of consumers.

All of a sudden, the footwear giant has sunk into losses for the first time in Bangladesh. As a matter of fact, it missed the country’s main shopping season after people’s income was wiped out by the coronavirus pandemic.

Meanwhile, Earnings of 51% of households in the country plunged to zero while a massive 95 percent of people suffered losses in income, A recent study of Brac found. In addition, The ongoing flood has added another blow.

At this instant, Bata’s sales dropped 85.37% to Tk 41.24 crore in the second quarter of 2020. On the other hand, sales dropped 55.37% to Tk 204.92 crore in the first half of the year.

Due to the collapse in sales, Bata Shoe fell into losses in the April-June period, giving up Tk 73.51 crore. Be that as it may, it had netted a profit of Tk 21.68 crore a year earlier.

“The store normally posts revenue of Tk 30 lakh in Eid-ul-Fitr during normal times but it was Tk 2 lakh this year. However, the sales are rising centring Eid-ul-Azha, which is only three days away.
Be that as it may, it can’t match the revenue stream recorded during normal times before the pandemic hit. Further, the situation is slowly getting better than the previous months.”
– Hashim Reza
(Company secretary, Bata Shoe)

Generally speaking, about 25% of Bata’s business comes during the Eid festivals, according to the financial report of the company.

All businesses are roller coaster ride regardless of the brand reputation. From the beginning, Bata has been at the forefront of innovation. To emphasize, both in the production and design of new shoe styles. However, in the creation of business models that permit a quick response to the ever-changing wants and needs of the customers. In effect, Bata enjoys a long history as a leading manufacturer and retailer of quality footwear. Therefore, proudly serves some one million customers each day.

For more updates, stay with Markedium!

Subscribe to our newsletter
Sign up here to get the latest news, updates and special offers delivered directly to your inbox.
You can unsubscribe at any time
Related Posts

Get real time updates directly on you device, subscribe now.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

Privacy & Cookies Policy

Pin It on Pinterest