Metro Brands Limited IPO : Issue Opens Dec 10, 2021
Established in 1955, Metro Brands Limited is one of the largest Indian footwear specialty retailers, in India. The company caters to the footwear needs of customers through a wide range of branded products for the entire family including men, women, unisex and kids, and different occasions.
The company targets the mid and premium segments in the footwear market which have a higher presence of organized players and growth in the overall footwear industry. Some of the company's well-known brands include Metro, Mochi, Walkway, Da Vinchi, and J. Fontini, as well as certain third-party brands such as Crocs, Skechers, Clarks, Florsheim, and Fitflop. Metro Brands also offer accessories such as belts, bags, socks, masks, and wallets, at their stores. The company also retails footcare and shoe-care products at their stores through the joint venture, M.V. Shoe Care Private Limited. The company follows the "company-owned and company operated" (COCO) model of retailing through their own Multi Brand Outlets (MBOs) and Exclusive Brand Outlets (EBOs), to manage their stores.
As of September 30, 2021, the company operated 598 Stores across 136 cities spread across 30 states and union territories in India. The company has been supported by Mr. Rakesh Jhunjhunwala as an investor since 2007.
Objects of the Issue:
- Expenditure for opening new stores of the company, under the “Metro”, “Mochi”, “Walkway” and “Crocs” brands; and
- General corporate purposes
Competitive Strengths:
- One of India's largest footwear retailers
- Wide range of brands and products
- Efficient operating model and asset-light business
- Presence across multiple formats and channels
- First choice for other national and international third-party brands
- Strong promoter background and an experienced management team
- Strong track record of growth and profitability
Company Promoters:
Rafique A. Malik, Farah Malik Bhanji, Alisha Rafique Malik, Rafique Malik Family Trust And Aziza Malik Family Trust are the company promoters.
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