Metro Shoes

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Metro Brands
TypePublic
IndustryRetail, fashion, e-commerce
Founded1977[1]
FounderMalik Tejani[2]
HeadquartersMumbai, Maharashtra, India
Area served
India
Key people
Rafique Malik Tejani (Chairman)
Farah Malik Bhanji (MD)
ProductsFootwear
Accessories
BrandsMetro, Mochi, Walkway, Da Vinchi, J. Fontini
ServicesOnline shopping
Websitemetrobrands.com

Metro Brands, previously known as Metro Shoes, is multi-brand footwear retail chain in India.[3] Metro Shoes operates from a network of 598 Metro showrooms at 136 cities in India.[4]

History[]

Metro Brands had its roots to a single shoe store on Grant Road in Mumbai in 1955.[5] The company was incorporated in January 1977 as Metro Shoes.[6]

In 2013, the company announced that it was able to expand the number of its retails stores due to low rental rates, particularly in tier II cities.[7]

In December 2021, the company launched its ₹1,367.5 crore (US$180 million) initial public offering (IPO).[4]

Controversy[]

In December 1996, MD of Metro Shoes, Rafique Malik Tejani, was among several businessmen and politicians arrested by Mumbai Police on charges of misappropriation of concessionary funds allocated to cobblers and artisans.[8] The case is sub judice as of 2018.[9]

References[]

  1. ^ "Metro Brands Limited Company Information". Economic Times.
  2. ^ "Metro Brands: Big Shoes To Fill". Forbes India. Retrieved 7 December 2021.
  3. ^ "Metro Shoes to open hundred stores by 2014, reach a turnover of Rs 859 cr". Economic Times. Retrieved 12 October 2013.
  4. ^ a b "Metro Brands IPO: Everything you need to know". The Indian Express. 10 December 2021. Retrieved 11 December 2021.
  5. ^ "Homegrown footwear maker Metro Brands aims for Bata's shoes". www.fortuneindia.com. Retrieved 11 December 2021.
  6. ^ Varadarajan, Prathiksha (10 December 2021). "From one shop to IPO, here's the journey of Metro Brands". Business Line. Retrieved 11 December 2021.
  7. ^ "Metro Shoes steps up store expansion". LiveMint. Retrieved 12 October 2013.
  8. ^ Subramaniam, Arun (31 December 1996). "Cobbler scam: Shoe firms charged with misappropriating concessionary funds". India Today. Retrieved 7 December 2021.
  9. ^ Hakim, Sharmeen (12 March 2018). "Discharge plea of ex-sherif rejected". Mumbai Mirror. Retrieved 7 December 2021.

External links[]

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