Metro Shoes clocks Rs 1030 crores

In the financial year 2016-2017, Indian footwear company Metro Shoes achieved sales revenue of Rs.1030 crores and expects to achieve revenues of Rs. 1234 crores in the next financial year.

Metro Shoes achieved online sales of Rs 13 crores in 2016-2017. Online marketplaces including Myntra, Flipkart and Amazon collectively contributed 85 per cent of the sales whereas its own portal contributed 15 per cent of the sales.

Further the company plans to launch 100 stores investing between Rs 20 lakhs and Rs 60 lakhs per store. It will explore Tier II cities like Patna, Jabalpur and the eastern part of the country.

Additionally, it plans to expand the product portfolio by introducing accessories as a category with products like belts and shoe-care items.

The footwear company plans to bring two international brands in the next six months. Now it runs four brands under its umbrella, Metro Shoes, Mochi, Crocs and Walkway. It collectively operates a total of 360 stores. Out of this, Metro Shoes has 175 stores, Mochi 105 stores, Crocs 35 stores and Walkaway 45 stores.

In 2015 Metro Shoes signed a retail partnership agreement with Crocs to help increase the global footwear company’s presence across the nation. As per the agreement, Metro Shoes would open exclusive brand outlets of Crocs footwear across the country.