The popular Indian shoe company, Bata is trading at Rs 553, which is up by Rs 17 or 3% more than their previous closing trade. The company is searching for ways to expand their company even more and plan to focus on tier II and tier III cities as well as the rural markets. This way it will expand their company and provide more growth.

The company has created a separate team to come up with ways to implement their business in rural areas. Bata India Chairman, P M Sinha, who is on the verge of retirement stated that the company will seek a four-fold increase in turnover in the next five years. “It is these markets which will provide growth and volume for our company”.

The company plans on using wholesalers in rural areas and have also designed shoes particularly for rural conditions. Bata is seeking to open 70 to 80 stores across the country and invest about Rs 1.5 crore per store. There are currently 1,250 stores.

Uday Khanna, former Managing Director and Chief Executive Officer of Lafarge India, is currently the present chairman at the latest meeting. Uday states that Sinha has also set tough targets, but they are hoping that the company can achieve what they are aiming for.