Bata Launches Bangladesh’s First Eco-Friendly Shoe On International Environment Day
The Bata Shoe Company (Bangladesh) Ltd., which reported that it had suffered a loss of 20 million USD on December 31st, has also taken an eco-friendly approach by launching exclusively Eco-Friendly shoes made from recycled plastic bottles and Ortholite insoles which are made of old tires! Unlike most other footwear companies who have not taken the time to make environmentally friendly options available for their customers, Bata is taking steps in order to save the planet. With new additions like these to its popular line of sandals, flip flops, and slippers, they hope to slow down our consumption of disposable plastics.
Bata Launches Bangladesh’s First Eco-Friendly Shoe
World Environment Day is an annual awareness day for the environment, and this year Bata Bangladesh has partnered with their local recycling initiatives to create a shoe that’s both sustainable and stylish. The upper of these shoes are 100% recycled from PET bottles supported by Refiber™ while on the outsole we used 30% recycled EVA which creates a durable sole material – all done right here in Bangladesh.
Exclusive Eco-Friendly shoes made from recycled plastic bottles and Ortholite insoles which are made of old tires! With this campaign, Bata became the first brand in Bangladesh to create such footwear for its customers.
Rooted in nature but raised within cities, you can find these new eco-friendly kicks at any Bata Flagship store or batabd.com!
On the other side, the Covid-19 pandemic has taken its toll on the Bata Shoe Company (Bangladesh) Ltd, which reported that it had suffered a loss of 20 million USD on December 31st. The company attributes this to their lack of customers and adverse impacts against most rural business leaders. They also recommended shareholders with a 25% cash dividend last year, the lowest payout ever recorded by them to make matters worse for themselves!
In a statement published on the websites of the stock exchanges, Bata said,
“It had been going through a crisis in its overall business since 2020. This year’s major festivals have caused retail sales to plummet due to widespread lockdowns across Bangladesh and led to dramatic losses for this company, which relies heavily upon their stores as they account for 25-30% of yearly revenue.”
In March 2019, Bangladeshi retailer Bata has announced that because of how last year’s national lockdown cut into store revenues by an estimated 10%, earnings are down drastically.
Bata officials said that the company’s earnings per share have dropped significantly since last year due to a change in daily spending habits. An anonymous Bata official told reporters that ,
“Novel coronavirus has changed the spending habits of people, who are now spending more on items like food and gas instead of buying other products.The increased demand for these essentials is causing store shelves to be depleted at almost all times which will take quite some time before they return to normalcy.”
Last year, shareholders saw their investment decrease by 96%. And while losses from one shareholder might not seem significant initially – approximately 36% – when combined with this downward trend it becomes clear how steeply stock prices fell over such a short period. So, Bata launches Bangladesh’s first Eco-friendly shoe might bring them new customers.
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