Bata India is reportedly in talks with global sportswear giant Adidas for a strategic partnership aimed at the Indian market.

What Happened: The discussions between Bata India and Adidas are likely at an advanced stage, with the final details of the deal being worked out, CNBC-TV18 reported, citing sources. The exact nature and scope of the partnership remain undisclosed.

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Why It Matters: A collaboration between Bata, a household name in India known for its durable and affordable footwear, and Adidas, a global leader in sportswear, would create synergies between two of the most well-known footwear brands in the country, allowing them to leverage each other’s network and brands.

Bata currently runs around 2,100 stores across 700 cities in India and is one of the most popular footwear brands in the country.

Price Action: Bata India shares were up 0.72% at ₹1,659.05 in morning trade on Thursday.

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Editor’s Note: Artificial intelligence was used as a secondary aid in the writing of this story.