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Tag: Foot Locker

  • Metro Brands reports steady performance in Q3 FY 2025

    Metro Brands reports steady performance in Q3 FY 2025

    MUMBAI:  Footwear retailer Metro Brands  announced its standalone and consolidated financial results for the quarter ending 31 December 2024 which showcased robust growth, largely driven by the festive and wedding seasons.

    The company recorded a standalone revenue of Rs 688 crore, reflecting a year-on-year sales growth of 10 per cent. The EBITDA margin stood at 32.6 per cent  with a profit after tax (PAT) margin of 13.7  per cent. Notably, the PAT figure includes a one-time tax charge of Rs 25 crore resulting from the reconciliation and reassessment of tax liabilities, mainly related to the Fila business.

    During the quarter, Metro Brands expanded its retail presence with the launch of its first Foot Locker store and a new kiosk for New Era, catering to an increasingly diverse customer base. The company also enlisted celebrities Triptii Dimri and Vijay Varma for its Metro Shoes line, alongside Shanaya Kapoor and Vedang Raina for Mochi, which bolstered brand visibility and contributed to growth.

    Metro Brands liquidated its old Fila inventory during this period and is set to release a second drop of India-manufactured merchandise by mid-February 2025.

    Over the nine months ended  31 December 2024, the company opened 61 new stores while closing four bringing total net new openings below the initial guidance of 100 for the year. However, the company remains committed to its overall target of establishing 225 new stores by FY 2026.

    Said CEO Nissan Joseph: “The third quarter of FY 2025 reflects steady progress for Metro Brands as we build on the momentum of the festive season. With an 18 per cent increase in PBT and a 13 per cent  rise in EBITDA, our focus on operational rigor is yielding results. The successful launch of the Foot Locker store and New Era kiosk, along with our celebrity partnerships, have enhanced our brand visibility and customer engagement. We are optimistic about our initiatives and remain dedicated to delivering value for our customers and stakeholders as we approach the final quarter of the year.”

  • Foot Locker to make its India debut

    Foot Locker to make its India debut

    Mumbai: Foot Locker, a prominent name in sneaker culture, will inaugurate its omnichannel launch in India on 19 October, with Metro Brands operating physical stores and Nykaa Fashion managing the e-commerce business.

    The first store, located at Select City Walk, will feature Foot Locker’s Reimagined concept, offering an innovative retail experience for consumers and sneaker enthusiasts.

    Alongside the physical store launch, Nykaa Fashion will provide an online shopping experience that mirrors the excitement of the in-store journey through its Foot Locker website and Shop-in-Shop on the Nykaa Fashion and Nykaa Man platforms. This digital platform aims to deliver a superior online shopping experience with a focus on convenience and personalisation.

    Foot Locker India will connect youth, culture, and passion-driven communities. The brand ambassadors, known as Stripers, will be category experts who enhance the shopping experience and lead community programs.

    Customer-centric initiatives, such as India’s FLX(TRA) Rewards Program, will be part of the brand experience. Metro Brands and Nykaa Fashion will provide access to top sneaker and apparel brands, including Nike, Jordan Brand, adidas, PUMA, New Balance, FILA, Asics, New Era, and more. Customers can also personalise their sneakers at the Sneaker Hub and protect their footwear with sneaker care brands like Crep.

    Commenting on the launch of India’s first Foot Locker store, Foot Locker, Inc Sr VP, strategic planning & growth Peter Scaturro said, “Bringing Foot Locker to India, via licensing arrangements  with Metro Brands and Nykaa Fashion, is a pivotal milestone in our global expansion. India’s vibrant sneaker culture offers a unique opportunity for Foot Locker to become a leading brand in the market. With our Foot Locker Reimagined concept, we aim to elevate the sneaker experience by blending innovation and technology in an immersive environment. Together with Metro Brands and Nykaa Fashion, we’re thrilled to inspire and empower Indian sneakerheads to express their individuality and connect with the Heart of Sneakers.”

    Metro Brands CEO Nissan Joseph said, “With India’s athleisure market expanding rapidly, the strategic relationship between Metro Brands Ltd, Foot Locker Inc, and Nykaa is a huge step in leveraging this tremendous opportunity. The commitment to customers and community is deeply rooted in Foot Locker’s ethos, and with Metro’s deep understanding of Indian consumers, we are excited to shape the next generation of sneaker culture, making the shopping experience more conversational and enriching for sneaker enthusiasts.”

    Commenting on the partnership, Nykaa co-founder and Nykaa Fashion CEO Adwaita Nayar said, “As the exclusive e-commerce platform for Foot Locker’s launch in India, we are thrilled to collaborate with such an iconic retailer that is revolutionizing the sneaker market. With sneaker culture gaining significant momentum in India, Nykaa Fashion is set to deliver a next-gen retail experience through our sophisticated digital platforms. Together, we are excited to create a seamless shopping journey that caters to the diverse and passionate sneaker community in India, bringing them closer to the global sneaker movement.”