Bata to export from Bangladesh, invest more to attract ‘youth’ market: CEO Panos Mytaros

Bata, a household name in Bangladesh's footwear industry since 1962, is set to undergo a major transformation. In an exclusive interview with The Business Standard, Panos Mytaros, Chief Executive Officer of Bata Group, shared the company's vision for the future which includes fresh investments, a push into the global export market, and a complete redesign of their product line to stay relevant to a younger generation.

Bata has a very long history in Bangladesh. How do you evaluate the current state of the business here?

This is my first visit to Bangladesh, and for me, it was vital to understand the consumer first. We have valued Bangladesh since we started here in 1962. With 180 million people and a growing economy, the potential is massive. However, we have observed that in some segments of the population, we are losing relevance. We are well-known for children's shoes and basic sandals, but the future must be built on top of that base. We aren't just looking at today; we are looking at where we want to be tomorrow.

Many consumers feel Bata's designs are somewhat traditional or "old." Do you have a plan to attract the younger generation who prioritise both style and comfort?

This is something we are taking very seriously. When a brand like Bata is in a country for many years, there is a tendency to keep doing the same thing. But today's consumer demands more – they want lifestyle, they want a specific "look," and they want comfort.

In Bangladesh, the majority of the population is under 35 years old. To attract them isn't a choice; it's a necessity. We are moving toward what I call "democratising" the product – democratising comfort and design. This means offering premium looks and styles that feel approachable and affordable to the youth. You will see us becoming much more relevant to them very soon.

Historically, Bata Bangladesh has produced for the domestic market. Is there any plan to begin exporting from here?

Traditionally, we produced a lot of shoes here but did not export. That is going to change. We are going to invest in our manufacturing facilities in Bangladesh to make better, more relevant shoes. The goal is to export these shoes to other Bata countries globally. You will see a significant increase in exports from Bangladesh.

We see a shift toward synthetic materials globally. Is Bata reducing its use of leather in favour of synthetics?

We have to provide what the consumer wants while keeping shoes affordable for everyone. Leather remains a very important and premium material in the Bangladesh market. However, for sneakers and lifestyle shoes, textiles and synthetics are often better because they are lightweight and breathable. We will continue to offer leather for its value and premium feel but won't neglect high-quality, competitive synthetic materials that allow for innovation.

Local brands like Apex have become very strong competitors. How does Bata plan to compete with rising local players?

I have seen the market, and I see brands like Apex have very nice stores and good products. In fact, Bata originally "taught" shoemaking to this country, and we are proud of that legacy. But Bata cannot be a follower; we have to stay ahead. To stay ahead, we will innovate, we will invest, and we will be very clear about what our brand stands for.

How do you view the investment environment in Bangladesh?

I find Bangladesh very welcoming to investors. We have been here for decades, so we understand the ups and downs of the economy. Policies change, but we know how to handle that. It is a very good country to invest in, especially for manufacturing and exporting. We are very positive about the environment.

What is your message for your shareholders and consumers in Bangladesh?

To the consumers: give us a little time, but you will see Bata becoming more relevant and our products becoming available to more people through higher distribution. To our investors: my target is double-digit growth every year. A growth in the brand and the company is ultimately a growth for the investors too. We plan to invest "absolutely more" in this country.