Metro Brands, previously known as Metro Shoes, is an Indian multi-brand
footwear
Footwear refers to garments worn on the feet, which typically serve the purpose of protective clothing, protection against adversities of the environment such as wear from rough ground; stability on slippery ground; and temperature.
*Shoes and si ...
retail company based in
Mumbai
Mumbai ( ; ), also known as Bombay ( ; its official name until 1995), is the capital city of the Indian state of Maharashtra. Mumbai is the financial capital and the most populous city proper of India with an estimated population of 12 ...
. , Metro Brands operates 598 Metro showrooms across 136 cities in India.
History
Metro started as a standalone shoe store in 1955 in
Colaba
Colaba (; or ISO 15919, ISO: Kolābā) is a part of the city of Mumbai, India. It is one of the four peninsulas of Mumbai while the other three are Worli, Bandra and Malabar Hill. During the Portuguese rule in the 16th century, the island was ...
, Mumbai. It was named after the
Metro Cinema Metro Cinema may refer to:
* Metro Cinema (Derby), closed 2008
* Metro Cinema (Mumbai) 1938–2006 name, now Metro BIG Cinemas, Mumbai
* Metro Cinema (Kolkata), a single screen movie theatre in Kolkata (formerly Calcutta)
* Metro Cinema Edmonton ...
, which was located nearby. The company was incorporated in January 1977 as Metro Shoes.
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.
In 2015, Metro signed an agreement with
Crocs
Crocs, Inc. is an American footwear company based in Broomfield, Colorado. It manufactures and markets the Crocs brand of foam footwear. Crocs, Inc. terms these "clogs," but they do not contain wood like traditional clogs.
History
2002–20 ...
to open exclusive Crocs stores in India.
In December 2021, the company launched its
initial public offering
An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investm ...
(IPO).
In March 2023, Metro Brands Limited reappointed Vikas Vijaykumar Khemani as an independent director.
Controversy
In December 1996, Managing Director Rafique Malik, was among several businessmen and politicians arrested by
Mumbai Police
The Greater Mumbai Police (Marathi language, Marathi: बृहन्मुंबई पोलीस, IAST: ''Brihanmumbaī Pulīs'', formerly ''Bombay City Police'') is the Police, police department of the city of Mumbai, Maharashtra. It is a cit ...
on charges of misappropriation of concessionary funds allocated to cobblers and artisans. The case is ''
sub judice
In law, ''sub judice'', Latin for "under a judge", means that a particular case or matter is under trial or being considered by a judge or court. The term may be used synonymously with "the present case" or "the case at bar" by some lawyers.
I ...
'' as of 2018.
References
{{Reflist
External links
Metro ShoesMochi ShoesWalkway ShoesFitFlop
Retail companies of India
Companies based in Mumbai
Retail companies established in 1947
Shoe companies of India
Footwear retailers
Indian brands
Indian companies established in 1947
Indian companies established in 1977
Companies listed on the National Stock Exchange of India
Companies listed on the Bombay Stock Exchange
2021 initial public offerings