Footwear maker Bata India in partnership talks with Adidas - CNBC-TV18 (updated)
17/08/2023 07:08
(Adds details and background)
BENGALURU, Aug 17 (Reuters) - Footwear manufacturer Bata
India BATA.NS is in talks with sportswear giant Adidas
ADSGn.DE for a strategic partnership, CNBC-TV18 reported on
Thursday, citing sources.
The retailer, which houses brands such as Hush Puppies and
Scholl, is likely to tie up with Adidas for the Indian market,
as per the report.
Bata India, the flagship of Netherlands-based Bata BN, has
more than 2,050 stores across the country, according to its
latest annual report.
The talks with Adidas are likely at an advanced stage with
final deal contours in the works, CNBC-TV18 said on social media
platform X, formerly known as Twitter.
The report came in after the Gurugram-based manufacturer in
its annual report mentioned that it has expanded its range of
"sneaker" shoes to more than 500 of its stores in a bid to cater
to increased youthwear demand.
Adidas and Bata India did not immediately respond to
Reuters' request for a comment.
(Reporting by Hritam Mukherjee in Bengaluru; Editing by Sonia
Cheema and Sherry Jacob-Phillips)
((Hritam.Mukherjee@thomsonreuters.com; Twitter:
@MukherjeeHritam;))