@VC Circle: Tata International Limited (TIL) has acquired a 76% stake in footwear manufacturing firms Bachi Shoes India Private Ltd (BSIPL) and Euro Shoe Components Private Ltd (ESCPL). The value of the deal is undisclosed.
This acquisition will help TIL to increase its presence in the manufacture and export of footwear and will make it India’s largest exporters of footwear. Moreover, TIL will now have presence in all key footwear segments namely, men’s, women’s and children’s footwear ranges.
TIL was established in 1962 and is the international business gateway of the Tata Group. Finished leather and footwear is a core part of TIL’s portfolio of businesses. It has a significant presence in men’s and women’s footwear segments and exports to various geographies including Europe and the USA.