Bata India rolls out voluntary retirement scheme for workers at Hosur

The footwear company announced a voluntary retirement scheme for eligible workers at its Hosur unit in Tamil Nadu, aiming for benefit both the company and its employees

The Board of Directors of Bata India Limited on Monday approved the introduction of a voluntary retirement scheme (VRS) aimed at eligible workers at the Bata Shatak Unit in Hosur, Tamil Nadu.

 

“The company believes that implementation of the VRS will be mutually beneficial to the workmen and the company. The status of implementation of the aforesaid VRS and the financial impact thereof will be ascertained and communicated in due course, as per the company’s Policy for Determination of materiality of an event/information,” the company said in an exchange filing.

 

Bata India’s financial performance 

Bata India reported a 53 per cent increase in consolidated net profit to Rs 51.97 crore for the second quarter ending September 2024, compared to Rs 33.99 crore in the same period a year before, the company had said in its regulatory filing. Revenue from operations rose 2.2 per cent to Rs 837.14 crore during the quarter.  

 

 

Total expenses for the September quarter stood at Rs 784.55 crore, up 5 per cent year-on-year, while total income, including other income, increased 2.36 per cent to Rs 854.32 crore. Shares of Bata India closed at Rs 1,336.90 on Monday on the BSE, down 1.47 per cent.

 

Bata partners with Zepto 

The company has partnered with quick commerce platform Zepto to deliver its fashion and festive footwear collections swiftly. Bata highlighted that the growing quick commerce market, with a CAGR of over 4.5 per cent, has significantly boosted demand for fashion products.  

 

Initially launched in Delhi-NCR, Bata plans to expand its quick commerce service to major metropolitan cities across India, offering a wider range of products. The move comes ahead of an estimated 4.8 million weddings in the coming months, aiming to cater to last-minute style needs with convenience and accessibility.  

 

Embracing quick commerce

 

The partnership aligns with a broader trend of footwear and apparel brands embracing quick commerce for faster delivery and enhanced customer experience.

 

Gunjan Shah, CEO of Bata India, said, “We wanted to strengthen our omnichannel presence to ensure that customers can shop for our stylish and high-quality footwear in the way that best suits them — whether online, in-store, or now, with rapid doorstep delivery.”