25 February 2023, Mumbai
By the end of 2025 Metro Brands plans to add 260 new footwear stores.
Metro Brands which now has some 720 stores and nearly 4,000 employees overall will also hire between 1,500 and 2,000 workers in the country to staff the new footwear stores.
The rising affluence in the country and a shift in consumer spend from mom-and-pop stores to bigger chains have set Metro up for sales gains. The company’s revenue rose by 68 per cent for the nine months ended December 31, 2022. The footwear company runs four brands under its umbrella, Metro Shoes, Mochi, Crocs and Walkway. Online marketplaces including Myntra, Flipkart and Amazon collectively contribute 85 per cent of its online sales whereas its own portal contributes 15 per cent of the sales. Additionally, it plans to expand the product portfolio.
In 2015 Metro signed a retail partnership agreement with Crocs to help increase the global footwear company’s presence across the nation. As per the agreement, Metro Shoes would open exclusive brand outlets of Crocs footwear across the country.
Metro, which operates nearly 200 exclusive stores selling only footwear made by Crocs, expects to benefit from the US company’s plans to sharpen its focus on sandals, which is commonly worn by Indians.
