Metro Brands, previously known as Metro Shoes, is an Indian multi-brand footwear retail company based in Mumbai.[5] Metro Brands operates a network of 598 Metro showrooms across 136 cities in India.[6][7]
 | |
 Metro House building in Colaba, Mumbai, where the first store was opened in 1955 | |
| Company type | Public |
|---|---|
| NSE: METROBRAND BSE: 543426 | |
| Industry | Retail, fashion, e-commerce |
| Founded | 1977[1] |
| Founder | Malik Tejani[2] |
| Headquarters | Mumbai, Maharashtra, India |
Area served | India |
Key people | Rafique Malik (Chairman) Farah Malik Bhanji (MD) Nissan Joseph (CEO) |
| Products | Footwear Fashion accessories |
| Brands | Metro Shoes, Mochi Shoes, Walkway, FitFlop, Da Vinchi, Cheemo[3] |
| Revenue |  ₹2,181 crore (US$260 million) (FY23)[4] |
| ₹361 crore (US$43 million) (FY23)[4] | |
| Website | metrobrands |
History
editMetro started as a standalone shoe store in 1955 in Colaba, Mumbai. It was named after the Metro Cinema, which was located nearby.[8] The company was incorporated in January 1977 as Metro Shoes.[9]
In 2013, the company announced it was able to expand the number of its retail stores due to low rental rates, particularly in tier II cities.[10]
In 2015, Metro signed an agreement with Crocs to open exclusive Crocs stores in India.[11]
In December 2021, the company launched its ₹1,367.5 crore (US$160 million) initial public offering (IPO).[6]
In March 2023, Metro Brands Limited reappointed Vikas Vijaykumar Khemani as an independent director.[12]
Controversy
editIn December 1996, Managing Director Rafique Malik, was among several businessmen and politicians arrested by Mumbai Police on charges of misappropriation of concessionary funds allocated to cobblers and artisans.[13] The case is sub judice as of 2018.[14]
References
edit- ^ "Metro Brands Limited Company Information". Economic Times.
- ^ "Metro Brands: Big Shoes To Fill". Forbes India. Retrieved 7 December 2021.
- ^ "Metro Brands eyes greater online presence". The Hindu Business Line. Retrieved 21 January 2023.
- ^ a b "Metro Brands Ltd posts Q4 net profit of Rs 68 crore". FashionNetwork.com. Retrieved 7 November 2023.
- ^ "Metro Shoes to open hundred stores by 2014, reach a turnover of Rs 859 cr". Economic Times. Retrieved 12 October 2013.
- ^ a b "Metro Brands IPO: Everything you need to know". The Indian Express. 10 December 2021. Retrieved 11 December 2021.
- ^ Nair, Prashant (2 August 2023). "Metro Brands says it's on track to add 200 new stores in next 2 years, demand continues to soar". cnbctv18.com. Retrieved 20 September 2023.
- ^ "Homegrown footwear maker Metro Brands aims for Bata's shoes". www.fortuneindia.com. Retrieved 11 December 2021.
- ^ Varadarajan, Prathiksha (10 December 2021). "From one shop to IPO, here's the journey of Metro Brands". Business Line. Retrieved 11 December 2021.
- ^ "Metro Shoes steps up store expansion". LiveMint. Retrieved 12 October 2013.
- ^ "Metro Shoes to open exclusive outlets for Crocs". The Economic Times. 5 August 2015. Retrieved 21 January 2023.
- ^ "Metro Brands Re-appoints Vikas Vijaykumar Khemani As Independent Director". Free Press Journal. 15 September 2023. Retrieved 20 September 2023.
- ^ Subramaniam, Arun (31 December 1996). "Cobbler scam: Shoe firms charged with misappropriating concessionary funds". India Today. Retrieved 7 December 2021.
- ^ Hakim, Sharmeen (12 March 2018). "Discharge plea of ex-sherif rejected". Mumbai Mirror. Retrieved 7 December 2021.