What Metro Brands does

Metro Brands Limited is one of India's largest footwear and accessories specialty retailers, operating more than 1,000 stores across 212 cities through a wholly-owned retail model. Founded in 1947 and headquartered in Mumbai, the company went public on BSE and NSE in December 2021 and is recognized as India's second-largest fashion footwear retailer. It runs a multi-format distribution network including exclusive brand outlets for in-house brands (Metro Shoes, Mochi, Walkway, Davinchi, Cheemo, Biofoot), licensed international brands (Crocs, FitFlop, FILA, Proline, New Era Cap, Clarks, Foot Locker), and the recently launched MetroActiv multi-brand athletic retail concept.

The business is built on a multi-brand, multi-price-point retail platform combining physical stores, e-commerce websites, quick commerce in four major cities, and exclusive digital partnerships such as the Nykaa Fashion tie-up for Foot Locker. Underlying technology comprises an e-commerce platform with omnichannel integration capabilities and a quick commerce fulfillment layer; Metro does not rely on proprietary AI or differentiated software IP, with competitive advantage stemming from retail scale, brand heritage and exclusive licensing arrangements.

Revenue is generated primarily through one-time retail sales of footwear and accessories across owned stores and online channels, supplemented by exclusive licensing and distribution economics for international brands. In Q4 FY26, Metro Brands reported revenue from operations of ₹773 crore (up 20.26% YoY) and net profit of ₹118 crore (up 23.48% YoY), with e-commerce contributing 12.2% of revenue at 53% YoY growth. Customer base is broadly diversified across Indian urban and suburban consumers with 10M+ customers served, supported by celebrity brand ambassadors and CSR programs.

Name

Metro Brands

Legal name

Metro Brands Limited

Website

https://metrobrands.com

Company type

Public

Founded year

1947

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Metro Brands Limited is an Indian footwear and accessories specialty retailer operating 1,000+ stores across 212 cities, selling in-house brands (Metro Shoes, Mochi, Walkway) and licensed international brands (Crocs, FitFlop, FILA, Clarks, Foot Locker) to mass-market Indian consumers via owned retail, e-commerce and quick commerce channels.

Ownership category

akta.pro rank

Product category

Footwear Retail

NAICS

Shoe Retailers (45821), Clothing and Clothing Accessories Retailers (45811)

SIC

Retail-Shoe Stores (5661), Retail-Apparel & Accessory Stores (5600)

akta.pro primary industry

Casual & Lifestyle Footwear Retail (CRAAADAB)

akta.pro secondary industries

Athletic Footwear & Performance Apparel Distribution (CRAOAJAH), Specialty Footwear Retail (Dance, Skate, Cleats, Bowling, etc.) (CRAAADAJ)

Keywords

• Footwear retail
• Specialty footwear stores
• Licensed brand distribution
• Multi-brand retail
• Footwear accessories

Headquarters

HQ city

Mumbai

HQ country

India

HQ region

Asia

Offices6 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Supply Chain, Operations, Personnel, Marketing or Sales, Infrastructure

Revenue model

1. Physical Retail Store Sales: Revenue generated from company-owned and operated retail stores across India selling footwear and accessories under various brands including Metro Shoes, Mochi, Walkway, Crocs, FitFlop, FILA, Proline, and licensed international brands
2. E-commerce and Omni-channel Sales: Online sales through company websites and marketplace partnerships, contributing 12.2% of total revenue with 53% year-on-year growth
3. Licensing and Distribution Rights: Revenue from exclusive distribution and licensing agreements for international brands including FILA, Proline, Crocs, FitFlop, Clarks, New Era Cap, and HEYDUDE in the Indian market

Pricing tiers

Go-to-market motion2 records

Distribution channels6 records

Marketing channels6 records

Core offering

Metro Brands Limited is an Indian footwear and accessories retailer that operates a multi-format retail network of 1,000+ stores across 212 cities, distributing in-house brands (Metro Shoes, Mochi, Walkway, Davinchi, Cheemo, Biofoot) and licensed international brands (Crocs, FitFlop, FILA, Proline, Clarks, New Era Cap, Foot Locker). The company sells men's, women's, and children's footwear through company-owned stores, exclusive brand outlets, e-commerce platforms, marketplace partnerships, and quick commerce channels.

Product overview

Metro Brands Limited is an Indian footwear and accessories retail company operating a diversified portfolio of in-house brands and licensed international brands. The company operates a multi-format retail network including exclusive brand outlets, multi-brand stores, and e-commerce platforms across 1,000+ stores in 212 cities. Its in-house brands include Metro Shoes (core fashion footwear), Mochi Shoes (contemporary/youth-focused), Walkway Shoes (value comfort), Davinchi (fashion-forward), and Cheemo (ethnic haute couture bags/footwear). Licensed international brands include Crocs, FitFlop, FILA, Proline (through Cravatex acquisition), New Era Cap (headwear), Clarks, and Foot Locker (sneaker/streetwear). In 2025, Metro Brands launched MetroActiv, a new multi-brand athletic retail concept combining physical stores with online platform and wellness tools, featuring partnerships with Nike, Adidas, Puma, and Fila. The company went public on BSE and NSE in December 2021.

Differentiator

Problem solved

Functional benefit

Brands

• Metro Shoes: Core footwear brand offering innovative and quality footwear and accessories for men, women, and kids.
• Mochi Shoes
• Walkway Shoes
• Crocs
• FitFlop
• FILA
• Proline
• Davinchi
• Cheemo
• New Era Cap
• MetroActiv
• Biofoot

Products and services

• Metro Shoes Core in-house fashion footwear brand targeting men, women, and children with style, comfort, and affordability. The flagship brand of Metro Brands offering a wide range of casual, formal, and occasion-based footwear.
• Mochi Shoes Contemporary in-house fashion footwear brand targeting younger consumers with trendy designs and the 'MochiCIONS' Gen-Z campaign, offering stylish options for men, women, and children.
• Walkway Shoes In-house footwear brand offering comfortable and stylish options for everyday walking and casual wear, including sports collection for men and women, targeting value-conscious consumers.
• Crocs (Licensed) Licensed distribution of Crocs footwear in India via Exclusive Brand Outlets. Crocs is known for its iconic clog silhouettes made with proprietary Croslite material, offering comfortable casual footwear for the whole family.
• FitFlop (Licensed) UK-based lifestyle and wellness footwear brand distributed exclusively by Metro Brands in India, offering shoes engineered with biomechanics for all-day comfort and wellness.
• FILA (Licensed) Italian global premium sportswear and lifestyle fashion brand established in 1911. Metro Brands holds exclusive rights for FILA in India, offering footwear, apparel, and accessories across retail and online channels.
• Proline (Licensed) Sportswear and athletic footwear brand with exclusive rights held by Metro Brands through the Cravatex acquisition, offering athletic and sports-inspired apparel and footwear.
• Davinchi In-house fashion-forward footwear brand celebrating youth individuality and style, positioned as a bold fashion statement for consumers who want to make an impression.
• Cheemo In-house haute couture brand for ethnic handbags and matching footwear, with handcrafted items created by specially chosen and trained Indian artisans where each piece is an exclusive art work.
• New Era Cap (Licensed) New York-based headwear brand founded in 1920, distributed exclusively by Metro Brands in India. Known for iconic caps like the 59FIFTY and lifestyle silhouettes, recognized as Official Cap of MLB, NFL, and NBA.
• MetroActiv Multi-brand retail concept focusing on athletic footwear, sportswear, and fitness accessories, combining physical stores with an online platform and wellness tools, featuring partnerships with Nike, Adidas, Puma, and Fila.
• Foot Locker India Global sneaker and streetwear retail chain operated by Metro Brands in India. Flagship Mumbai store spans 5,000+ sq ft with interactive retail layouts and Sneaker Hub for customization, featuring Nike, Jordan Brand, adidas, and PUMA products.
• Clarks (Licensed) British footwear brand distributed exclusively by Metro Brands in India through exclusive partnership with Clarks International Limited and Clarks India Services Private Limited.
• Biofoot In-house brand offering orthopedic insoles and foot care products.

Quantifiable outcome

• Q4 FY26 revenue grew 20.3% YoY to ₹773 crore
• +3 more outcomes

Named customers3 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Twelve partnerships are on record, tiered core and minor.

• Clarks InternationalcoreChannel Partner/ Reseller/ Distributor · 1 June 2025Clarks announced exclusive partnership with Metro Brands Limited for distribution in India. Metro Brands operates exclusive distribution agreement with Clarks International Limited and Clarks India Services Private Limited.
• New Era CapcoreChannel Partner/ Reseller/ Distributor · 9 August 2024New Era Cap, a New York-based headwear brand, signed a long-term licensing agreement with Metro Brands Limited to expand retail presence in India. Metro Brands receives exclusive rights to distribute New Era's headwear, apparel, and accessories through its retail stores, shopping kiosks, and online channels.
• Foot LockercoreChannel Partner/ Reseller/ Distributor · 1 November 2023Foot Locker is expanding its presence in India by opening a flagship store in Mumbai operated by Metro Brands for brick-and-mortar retail and partnered with Nykaa Fashion for exclusive e-commerce channels. The store features products from Nike, Jordan Brand, adidas, and PUMA.
• Cravatex Brands LimitedcoreStrategic or Co-development Partner · 20 October 2022Metro Brands plans to acquire 100% stake in Cravatex Brands to expand in sports and athleisure market. The acquisition grants Metro Brands exclusive rights for brands like FILA and Proline across various retail and online formats. The deal includes sale of Paragon Partners' stake in Cravatex and was subject to closing conditions.
• Nykaa FashionminorChannel Partner/ Reseller/ DistributorExclusive e-commerce partnership for Foot Locker products in India through Nykaa Fashion platform, complementing the physical retail presence.
• HEYDUDEminorChannel Partner/ Reseller/ DistributorHEYDUDE partnered with Metro Brands to enter the Indian market, expanding Metro Brands' portfolio of international footwear brands.
• NikecoreChannel Partner/ Reseller/ DistributorNike products featured in MetroActiv multi-brand retail concept and Foot Locker stores operated by Metro Brands in India.
• AdidascoreChannel Partner/ Reseller/ DistributorAdidas products featured in MetroActiv multi-brand retail concept and Foot Locker stores operated by Metro Brands in India.
• PUMAcoreChannel Partner/ Reseller/ DistributorPUMA products featured in MetroActiv multi-brand retail concept and Foot Locker stores operated by Metro Brands in India.
• Greensole FoundationminorOthersCSR partnership to refurbish discarded footwear and distribute to needy students; 12,500 recycled footwear pairs distributed to rural school children from Gujarat and Odisha.
• Aasra Welfare AssociationminorOthersCSR partnership for recycling old discarded footwear in an eco-friendly manner; pilot project for monthly 100 tons of old footwear disposal.
• CanCare TrustminorOthersCSR partnership to build a 93-bed Head & Neck Cancer Hospital in Mumbai; funded part of CAPEX; hospital commissioned in August 2023.

Scale indicators10 records

Recent moves9 records

Expansion highlights6 records

Direct peers

• Foot Locker: Foot Locker is a global sneaker and streetwear retailer; while Metro Brands currently operates the India franchise for Foot Locker, Foot Locker as a corporate entity represents a directly comparable specialty sneaker retail peer in the global footwear category.
• Woodland: Woodland is an Indian footwear and outdoor brand with extensive retail presence, comparable to Metro Brands as a multi-brand Indian footwear retailer with both own-brand and licensed product offerings.
• Bata India: Bata India is India's largest footwear retailer with thousands of stores nationwide, directly comparable to Metro Brands as a multi-format, multi-brand footwear specialty retailer targeting mass and mid-market consumers across the country.
• Skechers India: Skechers operates its own branded retail stores and e-commerce in India, directly competing with Metro Brands' athletic footwear formats including MetroActiv and Crocs/FitFlop EBOs.
• Relaxo Footwears: Relaxo Footwears is one of India's largest footwear manufacturers and sellers (including the Sparx and Flite brands), competing with Metro Brands across the mass-market casual and athletic footwear price tiers in India.
• Campus Activewear: Campus Activewear is an Indian athletic and casual footwear brand with growing distribution and D2C presence, directly competing with Metro Brands in the Indian sneaker and casual footwear segment.
• Liberty Shoes: Liberty Shoes is an Indian footwear brand and retailer with own-brand and licensed products sold through company-owned retail stores, comparable to Metro Brands' vertically integrated footwear retail model with brand portfolio.

Broad incumbents

• Aldo Group: Aldo is a global fashion footwear specialty retailer with multi-brand store formats; it is comparable to Metro Brands as a footwear specialty retailer operating in similar fashion and casual footwear segments across multiple geographies.
• Puma SE: Puma is a global athletic footwear and apparel brand sold through MetroActiv and other channels in India; as a broad incumbent, Puma's own D2C and wholesale strategy in India is comparable to Metro's branded retail approach.
• Crocs Inc. Crocs is a global casual footwear brand that licenses Metro Brands for India distribution; as a broader footwear incumbent, Crocs represents an upstream licensor and category competitor with global brand and DTC reach.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Metro Brands