“This is a net of 29 closed and 13 relocated stores, showing that the investments we have made in strengthening our business development and store construction teams are paying off. We added another 10 new cities to our locations in Q4, bringing the total number of cities that we are now present in to 174. This growth has been between all our concepts, including three new Fitflop stores, a brand we added in January of 2022. The quality of the growth is reflected in our improvements in sales per square foot. We are also pleased to see a 48% growth in our e-commerce division, despite the reopening and growth of our brick and mortar stores post-COVID.”
-Kaushal Parekh, CFO
Stock Data
| Ticker | METROBRAND |
| Industry | Footwear |
| Exchange | NSE & BSE |
Share Price
| Last 1 Month | 0.2% |
| Last 6 Months | 14% |
| Last 12 Months | 70.7% |
Business Basics
Metro Brands Limited is a well-known Indian footwear company that specializes in the manufacturing, retail, and distribution of footwear and accessories. Established in 1947, the company has grown into a leading player in the footwear industry, offering a wide range of products for men, women, and children. Metro Brands Limited operates a diverse portfolio of brands that cater to different customer preferences and style choices. The company’s flagship brand, Metro Shoes, is renowned for its high-quality and fashionable footwear, including formal shoes, casual shoes, sports shoes, sandals, and boots. Metro Shoes has gained a strong reputation for its craftsmanship, durability, and trendsetting designs.
Apart from Metro Shoes, the company owns and operates other popular brands such as Mochi, Crocs, and Walkway. Each brand has its own unique positioning, targeting specific customer segments and addressing their distinct footwear needs and preferences. This diverse brand portfolio allows Metro Brands Limited to capture a broader market share and cater to a wide range of customer demographics. In addition to manufacturing and retailing, Metro Brands Limited has a robust distribution network that spans across India. The company operates a large number of exclusive brand outlets (EBOs), franchise stores, and multi-brand outlets (MBOs) to make its products accessible to customers across different cities and towns. The company also has an online presence, offering customers the convenience of shopping for footwear through its e-commerce platform.
Q4 FY23 Financial Performance
Metro Brands Ltd. reported Total Income for Q4FY23 of ₹ 562.87 Crores up from ₹ 416.52 Crore year on year, a rise of 35%. Consolidated Net Profit of ₹ 68.74 Crores, up 1% from ₹ 69.52 Crores in the same quarter of the previous year. The Earnings per Share is ₹ 2.51 for this quarter.
Various Brands Offered By Metro Brands
Metro Brands Limited offers a diverse range of brands that cater to different customer preferences and style choices. The company’s portfolio includes the following prominent brands:
Metro Shoes: Metro Shoes is the flagship brand of Metro Brands Limited. It offers a wide variety of footwear for men, women, and children. From formal shoes to casual shoes, sports shoes to sandals, and boots to slippers, Metro Shoes provides fashionable and high-quality footwear options for all occasions.
Mochi: Mochi is a contemporary footwear brand that offers trendy and stylish footwear for both men and women. It combines fashion-forward designs with comfort and quality, catering to the fashion-conscious urban population.
Walkway: Walkway is a brand that specializes in casual and comfortable footwear. It offers a range of shoes, sandals, and slippers that are perfect for everyday wear. Walkway focuses on providing footwear options that are both affordable and durable.
Crocs: Metro Brands Limited is the authorized distributor of the renowned global brand Crocs in India. Crocs is known for its comfortable and lightweight footwear, including clogs, sandals, flip-flops, and sneakers. The brand’s unique designs and patented Croslite material make it a popular choice among customers of all ages.
These brands offered by Metro Brands Limited cater to different segments of customers, providing them with a wide range of options to choose from. Whether customers are looking for formal shoes for a professional setting, trendy footwear for a night out, comfortable shoes for everyday wear, or iconic Crocs for leisure activities, Metro Brands Limited has a brand that caters to their needs.
India’s Footwear Industry
The footwear industry in India has experienced remarkable growth and transformation in recent years, driven by factors such as a large and diverse consumer base, increasing disposable incomes, and evolving fashion trends. India has emerged as one of the world’s largest footwear markets, offering a wide range of options to cater to various segments and consumer preferences. The domestic market potential is substantial, with India’s massive population of over 1.3 billion providing a significant consumer base.
India’s footwear market is expanding quickly. In 2022, the size of the footwear market in India was $15.1 billion USD. A CAGR of 8% is predicted for the footwear market, which is expected to reach $1,072.6 billion by 2025. With 13% of the world’s 16 billion pairs of footwear produced, India is the second-largest producer after China. $24.86 billion will be made in revenue from the Indian footwear market in 2023. The market is anticipated to expand by 4.84% a year (CAGR 2023-2028).
The footwear industry in India encompasses diverse segments, including casual wear, formal shoes, sports footwear, and sandals, among others. This diversity allows manufacturers and retailers to cater to a wide range of consumer needs and preferences. In this highly competitive landscape, both domestic and international players are actively vying for market share, leading to continuous product innovations and expansions. Established brands, as well as emerging players, are leveraging the growing market potential and introducing new footwear products to capture the attention of Indian consumers.