Metro Brands to expand brick-and-mortar presence with 225 new stores
27 August 2024, Mumbai
Footwear retailer Metro Brands plans to expand its brick and mortar presence by opening 225 new stores across India over the next two fiscal years.
Known for offering a wide range of casual and formal footwear for the entire family, Metro Shoes is poised for substantial growth in the current financial year. The company anticipates its sales to grow in the range of 10 per cent -15 per cent and CAGR to grow between 15 per cent to 18 per cent, says Kaushal Parekh, Chief Financial Officer, Metro Brands.
Focused on ensuring that its expansion aligns with its return on capital targets, Metro Brands also plans to leverage strategic collaborations to fuel growth. The company recently partnered with the US-based Foot Locker to enhance its sports and athleisure offerings. The first Foot Locker store under this partnership is scheduled to open in the second half of the 2025 fiscal year.
Despite a 3 per cent Y-o-Y decline in net profits during the Q1, FY25to Rs 92 crore, Metro Brands expects robust growth in the second half of the fiscal year, driven by its ongoing expansion of offline stores.
