Bata says open to tie-ups after stock rises 5% on Adidas buzz

Kolkata: Bata India said it has ‘always explored possibilities of tie-ups’ a day after its stock jumped more than 5% over buzz of a strategic deal with Adidas.
The footwear giant already has international alliances with global majors such as US giant Hush Puppies. Speculation of a collaboration with the German sports and lifestyle major was also fuelled by the fact that Bata India is now giving a disproportionate thrust on sneakers for growth in the Indian market — in line with the global trend of casualisation. The company has also recently introduced sports apparel.
Responding to stock exchange queries, Bata said, “The company has had successful long-running strategic tie-ups with various brands over the years for offering unique propositions to consumers. In response to the clarification sought, 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 will fully comply with its obligations.”