Metro Brands
Indian footwear company
From Wikipedia, the free encyclopedia
Metro Brands, previously known as Metro Shoes, is an Indian footwear company, based in Mumbai.[5] As of 2021[update], Metro Brands operates 598 Metro showrooms across 136 cities in India,[6][7] under brands like Metro, Mochi, and Walkway. The company also retails third-party brands such as Crocs and Skechers.
| |
 Metro House building in Colaba, Mumbai, where the first store was opened in 1955 | |
| Company type | Public |
|---|---|
| NSE: METROBRAND BSE: 543426 | |
| ISIN | INE317I01021 |
| Industry | Retail |
| 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
Metro 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
In 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]