ECONOMYNEXT – Sri Lanka’s Softlogic Holdings Plc said it had bought Footwear Retailer Ltd which has the franchise and a factory to make Bata branded shoes in the island.
Softlogic said it intended to “revive and re-position ‘Bata’” to make it the number one footwear brand in Sri Lanka.
It will launch “seasonal designs” concurrently with Bata’s international launches.
Softlogic paid 293 million rupees to buy Footwear Retailer Limited/Bata Shoe Company Ceylon Ltd, the firm said in a stock exchange filing.
The company originated in 1950 has manufactured and distributed shoes in Sri Lanka for 73 years.
It has a factory in Ratmalana which employs 150 persons.
