21 October 2022, Mumbai:
Metro has acquired Cravatex. By his acquisition Metro aims at strengthening its brand portfolio in the athleisure segment in India.
Metro Brands is an Indian footwear chain. Cravatex owns Proline and Fila. With this acquisition, Metro Brands will get the exclusive rights for Proline brand and for the sale and distribution rights of the international sports brand Fila across all formats.
Metro is a footwear and accessories retailer, with 586 stores across 134 cities and spread across 29 states and union territories in India. The stores retail contemporary shoe brands like Da Vinchi, Skechers, ID, Fitflop and Crocs. The stores also offer a wide variety of economy, mid-range and premium footwear and accessories. The stores also house fresh and exciting looks for casual and formal footwear and accessories, for both men and women.
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 sales whereas its own portal contributes 15 per cent of the sales. Additionally, it plans to expand the product portfolio. In 2015 Metro Shoes 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.
