Metro Shoes enters into partnership with Crocs India

Showcasing its leadership in retail footwear, India's leading footwear brand, Metro Shoes, has announced a partnership with Crocs, the world leader in innovative casual footwear. Metro Shoes has 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 will be opening Exclusive Brand Outlets (EBOs) of Crocs footwear across the country.

Metro Shoes will be opening 30 Crocs stores in the first year and take the tally to 100 stores in the next 3 years. Metro Shoes will be investing around INR 40 crores and are expecting target sales of over INR 100 crores during this period. The association will enable Crocs to extend their excellent product range and make them available for the Indian consumer.

Speaking about the partnership, Mr. Rafique Malik, Chairman, Metro Shoes said, "India offers significant untapped potential for the Crocs brand, and we see a huge opportunity for growth. Metro Shoes was established in India in 1947 with a single store in Mumbai at Colaba. Today, Metro has 300 showrooms across India and is a brand name in every household. Crocs will bring in an excellent product range and their expertise in merchandising whereas Metro Shoes will bring in their expertise in opening and operating stores across India, knowledge of regional preferences and excellent customer service. We are sure that the response will be phenomenal and we look forward to taking the venture to the next level."

Commenting on the partnership, Mr. Nissan Joseph, Managing Director, Crocs India said, "With the growing marketplace and emerging consumer demands in India, more families want the latest styles, brands and quality products. Our partnership with Metro Shoes gives us more opportunities to meet these consumer needs with our wide variety of fun, comfortable shoes for the entire family."

Talking about this partnership, Mr. Andrew Rees, President, Crocs Inc. said, "Crocs is pleased to share our broad portfolio of casual, colorful footwear - including our newest styles and iconic clog - with more families in more cities across India. Our partnership with Metro Shoes lets us expand our footprint, while helping people of all ages celebrate and 'Find Your Fun' in every pair of Crocs shoes."

The first EBO was opened recently in Saharaganj Mall, Lucknow and two more will be opening shortly in Viviana Mall (Thane) and Elante Mall (Chandigarh)

Source : Equity Bulls

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