Metro Brands Limited (MBL), India's fastest-growing footwear retailer, today announced the inauguration of its 200th Crocs store in India, clocking another landmark in its retail expansion journey. The partnership between MBL and Crocs India Limited (CIL) has successfully captured the attention and loyalty in the hearts and on the feet of Indian consumers, making it a brand that is deeply cherished.
The partnership, which commenced in 2008, was initiated with the introduction of Crocs' products within MBL multi-brand outlets. In 2015, this partnership deepened as the brands inked a non-exclusive retail license agreement. This agreement authorized MBL to distribute Crocs products in India, aligning seamlessly with Metro Brands' mission of bringing global brands to India and offering a dynamic retail experience to its customers. This pivotal collaboration led to the opening of the very first exclusive Crocs store in 2015, located in Lucknow. Today, their 200th Crocs store is located at Pondy Bazaar, the retail hub of Chennai.
Mr. Maulik Desai, Business Head- Crocs, Metro Brands Limited, said, "The launch of our 200th Crocs store in India is a testament to the dedication of our team and our enduring partnership with Crocs. We are committed to offering a global retail experience that appeals to youth and customers seeking comfort. Crocs' unique selling points of comfort, distinctive style, and personalization make us a leader in the market. We're excited about the endless possibilities and milestones that await us in the future."
Mr. Sumit Dhingra, VP & General Manager, India & SEA, said, "We are delighted to celebrate the momentous achievement of inaugurating Metro Brand's 200th Crocs store in India made possible through our esteemed collaboration. This marks a significant milestone in our ongoing partnership with Metro Brands Limited, who is the biggest partner for Crocs India for operating exclusive stores. Playing a pivotal role, Metro Brands has been instrumental in bringing the essence of Crocs - both our iconic comfort and the joy of personalization and self-expression - to the hearts and feet of the Indian consumer. As one of our most cherished partners, Metro Brands Limited has been integral to our success, and we eagerly anticipate continuing this remarkable journey, expanding our reach, and creating even more exciting opportunities for our customers in India."
This milestone not only reaffirms Metro Brand's position as India's fastest-growing footwear retailer but also spotlights the profound impact of their enduring partnership with Crocs India Limited. As Metro Brands and Crocs look ahead, the 200th store at Pondy Bazaar, Chennai, symbolizes not just a landmark achievement but the promise of an exciting and innovative future in the realm of Indian footwear.
Shares of Metro Brands Limited was last trading in BSE at Rs. 1299.75 as compared to the previous close of Rs. 1347.75. The total number of shares traded during the day was 5468 in over 787 trades.
The stock hit an intraday high of Rs. 1354.40 and intraday low of 1291.55. The net turnover during the day was Rs. 7179460.00.