Metro Brands, Nykaa, and Foot Locker Join Forces to Revolutionize India's Sneaker Market

30 Nov 2023 , 12:30 PM

Metro Brands’ shares surged nearly 9% to a new 52-week high of Rs 1,441, while FSN E-Commerce’s Nykaa stock rose over 3% to Rs 178.35 after announcing a strategic partnership with Foot Locker.

Foot Locker collaborates with Nykaa and Metro Brands to transform India’s sneaker segment, catering to the evolving needs of next-gen customers.

A long-term licensing agreement was signed between Foot Locker, Metro Brands Limited (MBL), and Nykaa Fashion, aiming to revolutionize the Indian sneaker market.

MBL gains exclusive rights to own and operate Foot Locker stores in India, while Nykaa Fashion becomes the exclusive e-commerce partner, operating Foot Locker’s India website.

Sneaker segment volume in India is projected to reach 66 million pairs by 2028, with rapid growth and a demand for unique designs.

Mary Dillon, President and CEO at Foot Locker, Inc., expresses excitement about the partnership’s potential to appeal to the growing Indian market.

The collaboration leverages Metro Brand’s store operational excellence, Nykaa Fashion’s digital capabilities, and Foot Locker’s global sneaker experience.

Adwaita Nayar, Co-Founder of Nykaa and CEO of Nykaa Fashion, highlights the aim to bring the world’s best sneaker brands to India with ease and platform comfort.

Nissan Joseph, CEO of Metro Brands, anticipates the partnership to revolutionize the sneaker market in India and enhance the retail experience.

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