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Tag: Nissan Joseph

  • 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.”

  • Metro Brands Ltd partners with New Era Cap

    Metro Brands Ltd partners with New Era Cap

    Mumbai: New Era Cap, the New York-based brand in sports fashion has announced the signing of a long-term licensing agreement with Metro Brands Ltd (MBL), India’s footwear and accessories specialty. This partnership will expand the retail presence of New Era in India and deepen MBL’s retail expansion in the athleisure market.

    Under the terms of the agreement, MBL is granted exclusive rights for the distribution and sale of New Era products including headwear, apparel and accessories through retail stores and shopping kiosks. They will hold rights to channel online sales through their own websites, New Era sites and online marketplaces. New Era will also be present in the coming Foot Locker stores in India.

    New Era is a symbol of authenticity and individuality, appealing to a wide range of people from sports fans to fashion-forward individuals. Best known for being the official on-field cap for Major League Baseball and the National Football League, New Era’s signature headwear silhouettes include the 59FIFTY, fitted cap, the 9FIFTY snapback and the adjustable 9FORTY.

    The Indian headwear market has thrived through e-commerce. Recognizing the potential for retail expansion, Metro Brands Ltd plans to strategically penetrate the market by integrating sports culture into the cap industry with New Era.

    New Era VP Paul Gils said, “We are thrilled to be partnering with Metro Brands to create a robust growth plan for both headwear and apparel in India. Metro Brands has a deep understanding of the Indian consumer coupled with their expertise in retail and distribution. We look forward to significant brand expansion over the coming years.”

    Metro Brands Ltd CEO Nissan Joseph said, “At Metro Brands Ltd, our vision is to introduce the finest global brands to India and fulfill our customers’ complete athleisure wardrobe needs. This partnership marks a major milestone in that journey. It will allow us to revolutionize the cap market, elevate the retail experience, and address the evolving preferences of our customers. We are confident that, through this collaboration, caps are going to be the next statement accessory to watch out for.”

    Metro Brands Ltd, with over 800 stores across India, is gearing up to open the first Foot Locker store in the country. Within the Metro Brands Ltd family, an array of brands, including iconic Indian labels like Metro Shoes, Mochi and popular international choices like Crocs, FitFlop and Fila, have prospered.

  • Metro Brands Ltd appoints Mohit Dhanjal as COO

    Metro Brands Ltd appoints Mohit Dhanjal as COO

    Mumbai: Metro Brands Ltd, an Indian footwear retailer, has announced the appointment of Mohit Dhanjal as chief operating officer (COO), effective on 1 August 2024. Dhanjal brings a wealth of retail experience and a proven track record of leading strategic growth in the industry.

    In his new role, Mohit Dhanjal will be driving operational excellence and process improvements to support the company’s growth initiatives. He will have a profound impact on shaping the strategic direction of the company and overseeing day-to-day operations.

    “We are thrilled to welcome Mohit Dhanjal to our executive team,” said Metro Brands Ltd CEO Nissan Joseph. “Mohit’s extensive experience in Fashion and Lifestyle Retail, coupled with his visionary approach to cater the new-age customer, makes him a great fit to lead MBL’s operational strategy. We are confident that he will play a key role in accelerating our innovation and enhancing our competitive edge.”

    Mohit joins Metro Brands Ltd from Reliance Retail, where he served as chief revenue officer for Tira Beauty & led the group’s foray into multi-brand beauty retailing in the prestige & luxury space in India. With over 30 years of experience in the retail sector, Dhanjal has held various leadership positions at Sephora (Arvind Fashions Ltd), Raymond Ltd, and  Hindustan Unilever, where he demonstrated strong abilities to build and scale high-performing teams and deliver cutting-edge solutions.

    “I am excited to join Metro Brands Ltd at such a pivotal time in its growth journey,” said Dhanjal. “I look forward to working with the multi-talented team here to help accelerate Metro’s strategic priorities and deliver exceptional value to our customers.”

  • Metro Brands brings on board Nissan Joseph as CEO

    Metro Brands brings on board Nissan Joseph as CEO

    Mumbai: Homegrown fashion footwear retailer Metro Brands has announced the appoinment of Nissan Joseph as its chief executive officer, effective 1 July.

    The company will continue to be helmed by its founding members, managing director Farah Malik Bhanji, and chairman Rafique A. Malik, it said in a statement on Friday.

    Prior to joining Metro Brands, Joseph was associated with Philippines-based MAP Active & Planet Sports Inc, a lifestyle retailer in Southeast Asia, where he was the CEO since March 2020. During his 18 year-long experience in retail and brand management, he has held key roles for five years at Crocs, for which Metro Brands operates retail stores in India. He has also worked with Payless Shoes Pty Ltd and Hickory Brands, Inc.

    As of March 31, 2021, Metro Brands Ltd’s pan India network comprises 586 stores in over 130 cities with brands like Metro Shoes, Mochi, Walkway, and Crocs under its banner.