|
|
Article: The profit collection ; The man from Chile had no magic, just some adroit footwork to help Bata shake off losses, get back its shine and keep it.
- Article from:
- Business Today
- Article date:
- October 18, 2009
- Author:
CopyrightCopyright 2009 Business Today. Provided by ProQuest LLC. (Hide copyright information)
|
Then: Bata India's Q3 loss doubles...Bata's loss jumps to Rs 6.6
crore in Q1 ...Bata drops demerger plan, recast takes loss to Rs 62
crore ...
Now: Recession? What recession?
When Thomas Bata handpicked old loyalist Marcelo Villagran in
2005 from Bata's thriving subsidiary in Chile to steer Bata India,
the shoe major was scuffed and worn out. The balance sheet was
splattered with red ink, shareholders were disgruntled, workers were
unhappy and India Shining was no longer thronging the outlets of the
country's largest shoemaker.
"But even then, Mr Bata highlighted the immense opportunities the
country and its market offered for the brand, recalls the unassuming
Villagran, sitting at Bata's ...