{{Short description|Indian footwear company}} {{Use dmy dates|date=July 2018}} {{Use Indian English|date=July 2018}} {{Infobox company | name = Metro Brands | logo = Metro Brands.svg | image = Cafe Mondegar.JPG | image_caption = Metro House building in Colaba, Mumbai, where the first store was opened in 1955 | founder = Malik Tejani<ref>{{cite news |title=Metro Brands: Big Shoes To Fill |url=https://www.forbesindia.com/article/family-business/metro-brands-big-shoes-to-fill/52597/1 |access-date=7 December 2021 |work=Forbes India |language=en}}</ref> | area_served = India | industry = Retail | products = Footwear <br /> Fashion accessories | type = Public | traded_as = {{NSE|METROBRAND}} <br> {{BSE|543426}} | ISIN = INE317I01021 | founded = {{start date and age|1977}}<ref>{{cite news |title=Metro Brands Limited Company Information |url=https://economictimes.indiatimes.com/company/metro-brands-limited/U19200MH1977PLC019449 |publisher=Economic Times |language=English}}</ref> | brands = Metro Shoes<br>Mochi Shoes<br>Walkway<br>FitFlop<br>Da Vinchi<br>Cheemo<ref>{{cite news |title=Metro Brands eyes greater online presence |url=https://www.thehindubusinessline.com/companies/metro-brands-eyes-greater-online-presence/article30704777.ece |access-date=21 January 2023 |work=The Hindu Business Line|language=en}}</ref> | location = Mumbai, Maharashtra, India | key_people = Rafique Malik (Chairman)<br>Farah Malik Bhanji (MD)<br>Nissan Joseph (CEO) | revenue = {{up}} {{INRconvert|2181|c}} (FY23)<ref name="fy23"/> | profit = {{up}} {{INRconvert|361|c}} (FY23)<ref name="fy23">{{cite news |title=Metro Brands Ltd posts Q4 net profit of Rs 68 crore|url=https://in.fashionnetwork.com/news/-metro-brands-ltd-posts-q4-net-profit-of-rs-68-crore,1519229.html |access-date=7 November 2023 |work=FashionNetwork.com |language=en-IN}}</ref> | homepage = {{URL|https://metrobrands.com/}} }}
'''Metro Brands''', previously known as '''Metro Shoes''', is an Indian footwear company, based in Mumbai.<ref>{{cite web |title=Metro Shoes to open hundred stores by 2014, reach a turnover of Rs 859 cr |url=http://retail.economictimes.indiatimes.com/news/footwear/metro-shoes-to-open-hundred-stores-by-2014-reach-a-turnover-of-rs-859-cr/22369256|publisher=Economic Times |access-date=12 October 2013}}</ref> {{As of|2021}}, Metro Brands operates 598 Metro showrooms across 136 cities in India,<ref name="IPO"/><ref name="Nair 2023 s490">{{cite web | last=Nair | first=Prashant | title=Metro Brands says it's on track to add 200 new stores in next 2 years, demand continues to soar | website=cnbctv18.com | date=August 2, 2023 | url=https://www.cnbctv18.com/earnings/metro-brands-q1-earnings-on-track-to-open-200-stores-in-next-2-years-17408071.htm | access-date=September 20, 2023}}</ref> under brands like Metro, Mochi, and Walkway. The company also retails third-party brands such as Crocs and Skechers.
==History== Metro started as a standalone shoe store in 1955 in Colaba, Mumbai. It was named after the Metro Cinema, which was located nearby.<ref>{{cite news |title=Homegrown footwear maker Metro Brands aims for Bata's shoes |url=https://www.fortuneindia.com/enterprise/homegrown-footwear-maker-metro-brands-aims-for-batas-shoes/106285 |access-date=11 December 2021 |work=www.fortuneindia.com |language=en}}</ref> The company was incorporated in January 1977 as Metro Shoes.<ref>{{cite news |last1=Varadarajan |first1=Prathiksha |title=From one shop to IPO, here's the journey of Metro Brands |url=https://www.thehindubusinessline.com/markets/from-one-shop-to-ipo-heres-the-journey-of-metro-brands/article37924098.ece |access-date=11 December 2021 |work=Business Line |date=10 December 2021 |language=en}}</ref>
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.<ref name=livemint>{{cite web |title=Metro Shoes steps up store expansion |url=http://www.livemint.com/Industry/TIUAMO99wyFeb6SJ5Dg8EL/Metro-Shoes-steps-up-store-expansion.html|publisher=LiveMint |access-date=12 October 2013}}</ref>
In 2015, Metro signed an agreement with Crocs to open exclusive Crocs stores in India.<ref>{{cite news |title=Metro Shoes to open exclusive outlets for Crocs |url=https://economictimes.indiatimes.com/industry/cons-products/fashion-/-cosmetics-/-jewellery/metro-shoes-to-open-exclusive-outlets-for-crocs/articleshow/48361443.cms |access-date=21 January 2023|work=The Economic Times |date=5 August 2015 |language=en}}</ref>
In December 2021, the company launched its {{INRconvert|1367.5|c}} initial public offering (IPO).<ref name="IPO">{{cite news |title=Metro Brands IPO: Everything you need to know |url=https://indianexpress.com/article/business/market/metro-brands-ipo-everything-you-need-to-know-7665884/ |access-date=11 December 2021 |work=The Indian Express |date=10 December 2021 |language=en}}</ref>
In March 2023, Metro Brands Limited reappointed Vikas Vijaykumar Khemani as an independent director.<ref name="Free Press Journal 2023 u505">{{cite web | title=Metro Brands Re-appoints Vikas Vijaykumar Khemani As Independent Director | website=Free Press Journal | date=September 15, 2023 | url=https://www.freepressjournal.in/business/metro-brands-re-appoints-vikas-vijaykumar-khemani-as-independent-director | access-date=September 20, 2023}}</ref>
==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.<ref>{{cite news |last1=Subramaniam |first1=Arun |title=Cobbler scam: Shoe firms charged with misappropriating concessionary funds |url=https://www.indiatoday.in/magazine/indiascope/story/19961231-cobbler-scam-shoe-firms-charged-with-misappropriating-concessionary-funds-834263-1996-12-31 |access-date=7 December 2021 |work=India Today |date=31 December 1996 |language=en}}</ref> The case is ''sub judice'' as of 2018.<ref>{{cite news |last1=Hakim |first1=Sharmeen |title=Discharge plea of ex-sherif rejected |url=https://mumbaimirror.indiatimes.com/mumbai/crime/discharge-plea-of-ex-sherif-rejected/articleshow/63260969.cms |access-date=7 December 2021 |work=Mumbai Mirror |date=12 March 2018 |language=en}}</ref>
==References== {{Reflist}}
==External links== *[https://metroshoes.com/ Metro Shoes] *[https://www.mochishoes.com/ Mochi Shoes] *[https://walkwayshoes.com/ Walkway Shoes] *[https://fitflop.in/ FitFlop]
Category:Retail companies of India Category:Companies based in Mumbai Category:Retail companies established in 1947 Category:Shoe companies of India Category:Footwear retailers Category:Indian brands Category:Indian companies established in 1947 Category:Indian companies established in 1977 Category:Companies listed on the National Stock Exchange of India Category:Companies listed on the Bombay Stock Exchange Category:2021 initial public offerings