In addition, MBL collaborates with Nykaa Fashion and Crocs to strengthen its market position
Metro Brands (MBL) has secured a long-term licensing deal with US-based athletic footwear and apparel retailer Foot Locker. This partnership will see the launch of two to six stores across two to three Indian cities within the current fiscal year. These stores, ranging from 3,000 to 5,000 square feet, will introduce Foot Locker’s ‘store of the future’ concept, featuring bold storefronts, exclusive in-store environments, an expanded selection of footwear and accessories, sustainability features, active digital fixtures and advanced technology to enhance customer service through Foot Locker’s sneaker ambassadors, known as Stripers.
In addition, MBL has teamed up with Nykaa Fashion to offer exclusive online sales in India. This collaboration grants MBL access to a range of premium international brands tailored to local climate conditions and preferences. Ankur Bisen, Senior Partner and Head of Consumer, Food and Retail, Technopak Advisors, highlights that MBL’s partnership with Foot Locker strategically positions the company to capture a significant share of the casual footwear market in India.
According to Statista, India’s sneakers market is projected to grow by 7.85 per cent annually from 2024 to 2029, reaching a volume of 48.77 million USD by the end of this period. Bisen notes that MBL’s deep understanding of the Indian market will be instrumental in helping Foot Locker navigate its complexities.
MBL reported a 126.3 per cent increase in profit, rising from Rs 68.74 crore in the same quarter of the previous fiscal year to Rs 155.57 crore in Q4 FY ’24. During this time, MBL also extended its exclusive agreement with Crocs India to manage and own Crocs stores across western and southern India, while continuing to oversee existing stores in northern and eastern regions.
